The Company Samsung Accepts Blockchain to Track it Global Shipment

The South Korean electronic giant Samsung is watching for blockchain platform to manage and keep track of shipments of its vast global supply chain network.

Samsung Electronics- the world’s biggest chipmaker and manufacturer is considering a board implementation of a blockchain ledger platform to track its global shipments.

Song Kwang-woo, a blockchain chief at Samsung SDS announced that a blockchain system could slash shipping costs by 20 percent.

The executive also proved that SDS is going to develop blockchain for Samsung Electronics, placing it among the earliest global manufacturers to seriously explore the applicability of blockchain technology at such a scale.

SDS has proven experience in implementing blockchain technology for the logistics and shipping industry, successfully concluding a 7-month pilot project to record and track shipping logistics of imports and exports in Korea’s massive shipping industry in December 2017.

A blockchain platform could even lower the time and ramp up efficiency between product launches and their shipments to end users.

Delivering Blockchain Tech

Samsung SDS developed ‘Nexledger’ blockchain platform for businesses over a year ago.

SDS launched a blockchain pilot in May 2017 for shipping industry of South Korea to track shipments in real-time by leading a consortium that included Korea’s Ministry of Oceans and Fisheries, technology giant IBM and major freight operator Hyundai Merchant Marine.

Samsung SDS successfully completed its first trial run of a shipment that saw the entire process of a shipment, including booking and delivery, from Korea to China. SDS concluded its pilot in late 2017, that aims to process “all exports and imports” in Korea using blockchain.

The metropolitan government of Seoul chose Samsung SDS in November 2017 to deploy blockchain technology to the city’s entire administration as a means to improve transparency and enhance citizen convenience.