Today Samsung SDS announced that a consortium led by the company had successfully concluded a monthslong test on blockchain-powered storage in marine transport, with the expectation that the technology will take the shipping industry to a new level.
It is stated that blockchain technology will allow importers and exporters to make transactions of documents, such as a bill of landing and letter of credit, without forgery and tampering threats.
According to the company, blockchain can also track and store information, such as location, temperature, humidity and external shocks en route.
The consortium, joined by 38 entities from private and public sectors, has tested the blockchain technology since May. Samsung SDS vowed to support the application of the blockchain technology with logistics firms in the consortium, including Hyundai Marine Merchant.
Meanwhile, Samsung SDS is working on the Seoul Metropolitan Government’s project to create an information strategy plan based on blockchain technology.