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

Saad Ullah

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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.

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