Samsung Eyes Blockchain for Supply Solution

After joining a number of market leaders using blockchain, Korean giant Samsung is once again eyeing up the emerging technology - this time for supply chain solutions.

Statements issued by Samsung SDS, the company's IT and logistics-focused subsidiary, have re-tabled the tech giant's prospering interest in blockchain technologies.

Anticipating a titanic half-million tons of air cargo in 2018 alone, SDS envisages blockchain will slash costs by 20% for the 66 billion-dollar empire's boundless global supply network.

Samsung has not confirmed their blockchain-augmented supply chain, yet the prodigious IBM/Maersk collaboration should serve as a pointed reassurance to apprehensive shareholders to whom blockchain will invariably be Greek.

While the supply chain solution would be a new venture for Samsung, the tech powerhouse has taken a series of steps to establish itself as an early adopter of blockchain technologies.

Spending more than $10 billion on research and development each year, the application of blockchain to supply chain is an unsurprising step for the multinational, lying in the wake of 2017's ramping pro-blockchain rhetoric.

2017 was a busy year for Samsung, the company establishing intimate connections with all avenues of the blockchain industry, ranging from investment to entrepreneurship.

April saw the company launch their very own enterprise-grade security platform Nexledger, a July investment into Blocko, and an August entrance to Hyperledger -an open-source blockchain consortium.

Samsung SDS' blockchain technology and consulting capabilities will contribute to Seoul's leap as a top-rate global city.

Second, only to IBM, Samsung sports a whopping 5518 US patents, and may soon enough be registering their very own proprietary instance of blockchain technology.