2023 ACHIEVEMENTS

Take a closer look at all the achieved milestones during 2023.

Watch Short Video
  • +357 2425 0808
  • Login
  • English

Home

Blog

Samsung to use Blockchain to manage its ...

Samsung to use Blockchain to manage its supply chain

Samsung to use Blockchain to manage its supply chain

NetShop ISP

NetShop ISP · Blog Author

Apr 16, 2018 · Archive

Smartphone and semiconductor giant Samsung Electronics Co. is considering a blockchain platform to manage its vast global supply chain network, according to Bloomberg.

Song Kwang-woo, Blockchain chief at Samsung SDS Co. – an information technology subsidiary of Samsung- said to Bloomberg that the system could cut shipping costs by 20 per cent.

“It will have an enormous impact on the supply chains of manufacturing industries.” “Blockchain is a core platform to fuel our digital transformation” Song Kwang-woo added.

Professor of industrial engineering at Korea University in Seoul, Cheong Tae-su, said to Bloomberg “A blockchain system may help the company reduce the time lag between product launches and actual shipments, making it easier to respond to rival products and shifting consumer appetites in emerging markets like China” “It’s about maximizing supply efficiency and visibility,” said Cheong, “which translates into greater consumer confidence.”

Samsung is another major name and one of the first global manufacturers to consider using the blockchain as part of its day-to-day operations, following Maersk and IBM who announced a blockchain strategy at the beginning of 2018.

Press Releases
71

Free VPS Trial

No Credit Card Required.

Recent Posts

Navigating Forex Server Hosting: Key Distinctions from Conventional Providers

Navigating Forex Server Hosting: Key Distinctions from Conventional Providers

23 February, 2024

How to Install Nginx, MariaDB, PHP-FPM on AlmaLinux 9 Server (LEMP)

How to Install Nginx, MariaDB, PHP-FPM on AlmaLinux 9 Server (LEMP)

16 February, 2024

How To Reset Forgotten MySQL 5.7 Root Pass in Linux

How To Reset Forgotten MySQL 5.7 Root Pass in Linux

09 February, 2024

4 Things Web Developers Should Know about Virtual and Dedicated Server Hosting

4 Things Web Developers Should Know about Virtual and Dedicated Server Hosting

05 February, 2024

How to Install Docker Compose on Debian 12 Server

How to Install Docker Compose on Debian 12 Server

22 January, 2024

#letushostyou

Award Winning Hosting Provider established in 2004.

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2024 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer