Samsung to Use Blockchain for Global Shipping

Korean tech giant plans to reduce shipping costs by 20% using blockchain technology
16 April 2018   668

Technology giant Samsung is considering the possibility of using blockchain in its systems to track and manage global supply chains.

In a conversation with Bloomberg, the blockchain head of the Samsung SDS - IT-division of Samsung - Song Kwang-woo reported that the use of the blockchain will reduce costs by 20%.

The representative of the company confirmed that SDS is working on the creation of a blockchain platform for Samsung Electronics, which makes it one of the first large manufacturers seriously thinking about integrating the technology on such a scale.

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

Head of Blockchain, Samsung SDS

SDS expects to handle 488,000 tons of aviation cargo and 1 million 20-foot equivalent of shipping units in 2018. This includes advanced Samsung devices, including the Galaxy S9 and the upcoming Note 9, as well as OLED displays for the iPhone X and much more.

In addition to tracking shipments, the platform on the blockchain can shorten time and improve the efficiency of product launching processes and their delivery to the end user.

Samsung SDS is a member of the Enterprise Ethereum Alliance (EEA). The company successfully carried out the first experimental delivery of cargo from Korea to China, during which the whole process was controlled by the system on the blockhouse, at the end of 2017.

More than a year ago, Samsung SDS launched its own blocking platform Nexledger, intended for corporate users.

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.