Samsung Electronics Co is Now Exploring Blockchain Technology for Global Shipments

samsung electronics co is now exploring blockchain technology for global shipments

One of the world’s largest makers of semiconductors and smartphones is considering blockchain technology for their global supply network, Bloomberg reported this morning. Samsung SDS, Samsung’s IT subsidiary, is looking to the technology to cut costs. Song Skwang-woo, Samsung’s VP and blockchain chief, thinks that adding blockchain to its current systems could cut costs up to 20%. The South Koreans tech giant added Nexledger last year, which functions as a transaction management tool. Last year, Kwang-woo said in a press conference when announcing Nexledger: “In developing our blockchain platform, we thought…

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