Samsung to Use Blockchain for Global Shipping

Korean tech giant plans to reduce shipping costs by 20% using blockchain technology
16 April 2018   457

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.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   137

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.