Samsung Wants To Use Blockchain For Its Huge Global Supply Chain
electronics giant revealed it intends to use for its global supply chain, Bloomberg April 16.
Samsung SDS, the company’s IT subsidiary, is eyeing the technology with a view to cut costs by up to 20%, according to vice president and Blockchain chief Song Kwang-woo.
If it gets the green light, the move would be a further addition to SDS’ Blockchain interaction, alongside its transaction management tool which debuted last year.
“It will have an enormous impact on the supply chains of manufacturing industries,” Song told the publication.
“Blockchain is a core platform to fuel our digital transformation.”
According to the plans, Samsung’s entire global supply network could transfer to Blockchain, with 2018 volumes set to include 488,000 tons of air cargo and one million shipping containers.
Included in the volume are consumer items such as Samsung Electronics’ Galaxy S9 smartphone.
Samsung has sought to ingratiate itself with the cryptocurrency industry on a new level this year, partnering with mining hardware manufacturers and to produce chips.
In addition, November 2017 saw a with the South Korean government for the creation of a Blockchain platform focusing on “welfare, public safety and transportation” by 2022.
We have launched a beta version of our bitcoin wallet with simple bitcoin exchange service and bitcoin invoicing service. The wallet is secured with multi-sig and 2FA PIN. TREZOR integration for password-less logins and offline transaction signing is (…)
We Used a Burner Wallet to Create a Micro-Economy for Drunk People at our House Party, and it was… We Used a Burner Wallet to Create a Micro-Economy for Drunk People at our House Party, […]
Interest in bitcoin is intensifying. People wishing to purchase bitcoin and other cryptocurrencies are flocking to digital currency exchanges, such as Coinbase. In effect, on November 2, 2017, as bitcoin hit all-time highs for the third week in a row, Coinbase in just a 24-hour period.
The number of people wishing to participate in the cryptocurrency ecosystem is increasing exponentially. For example, data collected by shows the extraordinary growth of Coinbase’s customer base.
Coinbase, the online cryptocurrency exchange, now has more than 11.9 million customers, in 32 countries. The amount of digital currency Coinbase has exchanged has reached $40 billion USD, according to the company’s website.
Coinbase added 100,000 users in the past 24hrs Data:
— Alistair Milne (@alistairmilne)
Based in San Francisco, California, Coinbase allows customers to instantly purchase bitcoin, Ethereum, and Litecoin using a US bank account.
bitcoin’s value continues to increase dramatically. As of this writing, bitcoin’s price has surpassed $7,300 USD. Thus, the cryptocurrency is for its fifth consecutive quarter of impressive growth in value.
Financial experts suggest various to explain bitcoin’s recent increase in value. For example, many experts attribute the latest spike to the CME Group’s that it plans to launch bitcoin futures contracts in the fourth quarter of this year, contingent upon regulatory approval. This announcement has aroused investors’ interest. The CME Group is one of the largest derivative marketplaces.
Other experts propose that the bitcoin’s recent price spike is due to the upcoming Segwit2x blockchain hard-fork. Blockchain is the technology behind bitcoin. On November 16, 2017, blockchain is scheduled to undergo a hard-fork, or split, known as Segwit2x. Consequently, there will be two bitcoin blockchains and two types of coins: bitcoin and Bitcoin2x.
The Segwit2x hard-fork might significantly benefit those holding bitcoin because they will receive an equal amount of Bitcoin2x for each bitcoin they possess.
Specifically, as detailed by Coinbase, “Any user storing bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required – we will automatically credit your account. If you have 5 bitcoin stored on Coinbase before the fork, you will have 5 bitcoin and 5 Bitcoin2x following the event.”
But even before the CME Group’s bitcoin futures announcement and the Segwit2x hard-fork, bitcoin’s adoption rate had been increasing. As we can see by the striking number of new Coinbase customers now subscribing in a single day, this trend seems likely to strengthen.
Do you think bitcoin’s adoption rate is just scratching the surface? Let us know in the comments below.
