Samsung to Use Blockchain for Global Shipping

Korean tech giant plans to reduce shipping costs by 20% using blockchain technology
16 April 2018   192

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.

Zilliqa is holding a meetup in Singapore

High throughput blockchain platform Zilliqa is organizing a meetup session in Singapore on May 23 to share its progress and preview its new smart contract language Scilla
24 April 2018   26

A meetup titled "Zilliqa: Sharding in Action & Security by Design" by Zilliqa project will take place on May 23 at The Metro@ thebridge. Zilliqa is a new high-throughput public blockchain platform that can enable real-world applications considered impossible up to the moment. Zilliqa utilizes the idea of sharding to reach thousands of transactions per second without sacrificing security and decentralization.

The session will covering the so-far progress of the project, the partners joining the project and the preview of the new smart contract language Scilla that further improves on security for smart contracts. The event is going to be broadcasted love on YouTube. The agenda of the meetup is as follows

  • 18:45 - 19:00 Overview of the Zilliqa project
  • 19:00 - 19:20 Session with partners of Zilliqa
  • 19:20 - 19:50 Demo: Testnet & secure smart contracts with Scilla
  • 19:50 - 20:40 Networking

At the moment of publication, Zilliqa market parameters are as follows:

  • Average price $0.099018
  • Market cap $721,249,874
  • Volume (24H) $86,625,700