Tracking global shipments can be a chore for any large scale manufacturer, but the Samsung blockchain may just be the solution for the South Korean electronics conglomerate. The use of a blockchain-based system has not been fully set into practice yet, but Song Kwang-woo, head of blockchain at the company, has said that the use of the technology could slash shipping costs by up to 20%. The exploration of Samsung blockchain shipping solutions would position the company as the first to seriously explore blockchain technology in a large scale shipping application.
The use of this tech in Samsung's shipping procedures would not just save costs for the company, but would also see improvements for the customer. The switch to a blockchain-based system could decrease the amount of time between a product launch and availability to the customer and could ensure fewer product shortages.
Image Credit: Yves Herman/Reuters
Blockchain-Based Shipping Procedures
More Stats +/-
Secure Medical Exchanges
Blockchain-Powered VR Concerts
Affordable Blockchain Tools
Blockchain Peer-to-Peer Learning
Get the top 100 trends happening right NOW -- plus a FREE copy of our award-winning book.