[2018-04-17] Samsung Is Planning to Implement Blockchain Technology for Logistic

[Vladdirescu87]

Samsung Is Planning to Implement Blockchain Technology for Logistics Purposes

Famous South Korean giant Samsung Electronics Co. is considering the implementation of blockchain tech in order to supervise the company’s supply channels around the world. The Asian manufacturer could become one of the first to deploy the financial technology behind cryptocurrencies.

According to reports, Song Kwang Woo, the chief of blockchain at Samsung SDS, stated that the group’s logistical and information and technology arm, Samsung Electronics is looking at a blockchain ledger system that will enable it to keep track of global shipments worth tens of billions of dollars annually.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/samsung-to-implement-blockchain-technology/

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[peter0425]

Its really logical for all company that really holds a lot of customers data to migrate their legacy or even added blockchain to support their logistics. We all know that blockchain is the new wave of technology cause it will not save time but a lot of money for a certain company and the funds being saved can be channel for more R&D.

So I'm not surprised by this decision and its just about time for them to join the bandwagon and implement blockchain in their support system. Maybe it will cut a bit of employees of Samsung, but this decision is based on pure business logical (save cost, cost-cutting).

[Gotottack]

This is what is true- large companies and even governments are after the blockchain technology irrespective if they are for Bitcoin or not- because they see the potential it has especially in the future. I also think this is the reason they let Bitcoin for the moment sans laws that directly address it mainly because they are studying how it goes- its strengths and weaknesses. I am hoping this is all for the better- both to Bitcoin and to the blockchain technology- and not to ditch Bitcoin all at once when they perfected the latter. Otherwise, Bitcoin will die the natural death in the limelight of the blockchain technology.