Tech Giant Samsung May Soon Start Using Blockchain For Shipping Goods

Tech Giant Samsung May Soon Start Using Blockchain For Shipping Goods

The tech titan Samsung Electronics is examining the possibility of the blockchain use in the transportation of its commodities. Accordingly, the company hopes to decrease the transportation costs by 20%. The intentions of the business have been revealed by the blockchain chief at Samsung SDS Song Kwang-woo, as per Bloomberg.

New Perspectives For the Largest Manufacturer of World’s Smartphones

Samsung may soon apply blockchain behind the realm of cryptos, as it is often done by giant companies. A few months ago Maersk and IBM announced their mutual plans to use DLT for delivery.

It seems that the world’s most outstanding producer of semiconductors Samsung is reluctant to stay behind in this race for the future. The delivery of Samsung production costs tens of billion dollars annually, and blockchain can be an excellent tool for tracing them. But most importantly, the new trend tech can cut the costs of the transportation of goods by 20%.

When unveiling the plans of the company, Kwang-woo said that if Samsung ends up adopting the DLT for carrying out its operations, it is going to affect the shipping niche in the world of manufacturing considerably.

The VC of SDS also labeled blockchain as the nucleus platform for triggering the cyber metamorphosis of Samsung.

Whereas businesses around the globe concentrate on introducing the blockchain in international financial remittances and tracing the distribution of food, Samsung may act as a game-changer. At present, it is Samsung SDS, the Samsung Group’s info and logistical lever, which is preparing the system for the business.

What Exactly Does Samsung Want To Use DLT For?

With the help of blockchain, the company plans to manage 448k tons of air loads as well as one mln of transportation pieces equivalent to 20 foot already in 2018.

Among the supply units, there will be:

  • Galaxy S9 smartphones
  • inartificial light- exhaling diode monitors

The excellent benefit of the use of blockchain for shipping is that it can help to decrease the time interval between the set off of the goods and actual transportation.

This is what the professor of manufacturing engineering at Korea University Cheong Tae-su believes. He also says that the blockchain system can help Samsung to fight its contenders and match the interests of its clients, especially in the appearing markets such as China.

Tae-su also added that the application if such tech can optimize the delivery effectiveness as well as transparency. This, according to his words, will lead to what he calls “greater consumer confidence.”