Connect with us


Samsung Subsidiary SDS President: Blockchain can “Improve Supply Chain Management”

Saad Ullah



Samsung’s IT subsidry, SDS’ President has said blockchain can improve manufacturing efficiency through effective use in supply chain.

Blockchain to Improve Process and Enhance Trust

According to the local media platform, Sina Technology News, the firm’s leader talked about how blockchain technology could help productivity to increase through real time data analysis in conjunction with artificial intelligence.

Hong Yuan Zhen, who is President and CEO of Samsung SDS, the IT and consultancy sister concern of Samsung said, “In the whole process of supply chain management, communication is very important, data needs to be collected, and through blockchain and AI, we can improve processes and enhance trust so that we can share information better, so a healthy process is established.”

He said these words in the “Boao Forum for Asia 2019 Annual Meeting” which was held the city of Boao in the Hainan province of China.

The president was of the opinion that digital technology is still not being used to its full potential and combining decentralized technologies with others would not only bring ever more increased productivity, but herald a fundamental change in how companies will operate in the future.

Samsung’s Blockchain Adoption

Samsung has always been known to adopt cutting edge technology in its endavours. The firm had made a major leap in the retail communication sector when it decided to use the then new Android mobile OS. That move put the South Korean firm at a different level.

Recently, there were rumors of Samsung to offer a crypto wallet in its upcoming flagship Galaxy S10 mobile.      Benjamin Geskin, a serial mobile leaker had uploaded pictures of the mobile screen clearly showing the mobile having a crypto wallet related feature.

Initially denied by Samsung, the release of the mobile shows that it does have a cold storage crypto wallet.

The continued emphasis on blockchain clearly shows that the South Korean firm sees a lot of benefit in the technology.

Continue Reading
China's GDP Growth: Investing
Blockchain20 hours ago

China Looking into Blockchain State Currency Renminbi

Blockchain2 days ago

Pakistani PM, Imran Khan, Chairs Meeting on Government Digitization, Wants Blockchain

Blockchain3 days ago

Blockchain Event BlockShow Launches Crypto Donations for Notre Dame Cathedral

Blockchain4 days ago

Samsung Partners with Indian IT Firm Mahindra for its NextLedger Blockchain

Blockchain5 days ago, a Blockchain Events Firm, Launches Initial Exchange Offering (IEO) on BitForex

Blockchain5 days ago

Porsche Launches Blockchain Proof of Concept “You Owe Me” for Parking Fee

Blockchain7 days ago

Goodbye YouTube: PewDiePie Shifts to Blockchain Video Platform DLive

Blockchain1 week ago

Telegram’s Blockchain, TON Undergoes Beta Testing

Blockchain1 week ago

Luxury Brand Louis Vuitton Seeks Authenticity Check through Blockchain, Microsoft to Help

Banking1 week ago

MUFG, Fifth Largest Bank Globally, Decides to use Stablecoin By End of 2019

Blockchain2 weeks ago

Consulting Firm Accenture Granted Two Blockchain Interoperability Patents

Cryptocurrency3 weeks ago

Bithumb Hacked Again. USD 19 Million in EOS and XRP Stolen

Banking3 weeks ago

Major Indian Bank Joins Ripple for Remittances

Blockchain3 weeks ago

New Weiss Crypto Analysis Gives Top Grade to XRP, EOS and BTC

Blockchain3 weeks ago

CEOs of MasterCard and Wells Fargo Say Blockchain Full Potential Yet to be Realized

Banking3 weeks ago

HSBC SVP Says CFTC Should Make “Some Positive Words” for Blockchain

Blockchain3 weeks ago

Chocolate Company Hershey Joins Blockchain Advertisement Platform AdLedger

Blockchain3 weeks ago

Samsung Subsidiary SDS President: Blockchain can “Improve Supply Chain Management”

Blockchain3 weeks ago

Shipping Giant UPS to Facilitate B2B Sales with Blockchain

Blockchain4 weeks ago

BMW And Intel Partner With Singapore Government for Blockchain Accelerator

Like us on Facebook

The Trending Posts

Pin It on Pinterest

Share This