Samsung Is Probably Going To Start Using Blockchain

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When you're a global manufacturing giant, it stands to reason that you might need a fair amount of organisation and security when it comes to shipping your wares. With that in mind, it's not particularly surprising that Samsung Electronics Co.is considering investing in a blockchain ledger system in order to keep track of its global shipments.

Song Kwang-woo, the blockchain chief at Samsung SDS Co., told Bloomberg that implementing a blockchain system could cut shipping costs by 20 per cent, as well as reduce the time between product launches and shipments.

"It will have an enormous impact on the supply chains of manufacturing industries,” said Song. Blockchain is a core platform to fuel our digital transformation."

While blockchain technology has been rising in popularity in recent years, Samsung is one of the first global manufacturing companies to be talking about it this seriously.

There are been no word on when Samsung will implement a blockchain ledger (nor if it definitely will), but we can expect to see more companies invest in the technology over the next few years, as demands for efficiency and security continue to rise.

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