News, Editorials & Opinions

SAMSUNG DELVES DEEPER INTO CRYPTO EXPLORING BLOCKCHAIN FOR ITS LOGISTICS
Apr 16, 2018
 

Samsung Electronics Co. is the latest big name to show a keen interest in the powers of blockchain technology, specifically, how it can be incorporated into their supply chain management processes. According to Bloomberg Quint, the company’s logistical and information and technology branch, Samsung SDS CO., could use a blockchain ledger to monitor their billion-dollar global shipments sector.

A part of this digital transformation is working towards a paperless way of doing business. Not only are physical documents annoying, they’re expensive too. In fact, according to International Business Machines Corp., the documentation costs for container shipments is more than double that of other modes of transportation. When it comes to Samsung shipments, this equals a substantial amount of money and by implementing blockchain technology, the company could save as much as 20% in shipping fees.

Source: Bitcoinist (http://bitcoinist.com/samsung-delves-deeper-crypto-exploring-blockchain-logistics/)

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