Samsung Jumps on the Blockchain Bandwagon
- Technology seen enabling faster shipments of phones and chips
- Korean manufacturer may be among first to deploy blockchain
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The world’s biggest maker of smartphones and semiconductors may use the technology behind cryptocurrencies to manage its vast global supply network.
Samsung Electronics Co. is considering a blockchain ledger system to keep track of global shipments worth tens of billion of dollars a year, according to Song Kwang-woo, the blockchain chief at Samsung SDS Co., the group’s logistical and information and technology arm. The system could cut shipping costs by 20 percent, according to SDS.