Bitcoin, Cryptocurrency And Blockchain News

Big News! Samsung Has Now Added Blockchain Technology and AI to its Smart Logistics Platform, Cello


In a press conference held at Samsung’s SDS center in Seoul, South Korea, Samsung’s SDS head, Hong Won Pyo explained that they were capitalizing on blockchain and artificial intelligence to upgrade their Smart Logistics platform, Cello. The platform works with various chain suppliers offering transportation systems, chain planning services and much more. The CEO said,

Power your supply chain to move faster and deliver on time. Control and optimize every part of the process with powerful tools that help you plan, detect delays, avoid extra costs, and access the best routes and rates in real-time,

Use The Bitcoin (UTB), reports that the new upgrades aim at enhancing efficiency on the Cello platform with artificial intelligence algorithms, along with blockchain integrations. “Blockchain technology itself is open-sourced. But it becomes useful only when it is combined with the right functions to serve a particular purpose in a particular industry. And I believe this is not something all companies can do,” stated Mr. Hong.

Sustained Continuous Development

The Cello platform was started in 2012 as a provider for Samsung Electronics. Using various technologies, Samsung has been improving and expanding the platform, attracting a number of investors, and has also pumped huge resources into research and development. The Korean Herald reported that Samsung SDS will now handle more than 488, 000 tons of air cargo as well as more than 1 million units in twenty-foot ship cargo this year. Prior to the announcement, Samsung SDS had already completed a pilot project with Korean fishcake producer Samjin Amook, using the new blockchain technology. Through the scanning of a barcode, it was easy for customers to see where the product was manufactured and the channels it passed through before getting to the supermarket, hence enhancing trust.

Solidifying its Leading Role in the Logistics Industry

With the new improvements, Samsung SDS is in line to solidify its leading position in the logistics industry by volume. The new developments will not only enhance efficiency but also reduce costs in the creation of tracking systems. The company has also gone beyond the provision of logistics services by coming up with an online marketplace known as Cello Square, where clients from all over the world can search for and pick various logistics services depending on their needs.

Samsung SDS has also indicated that it will apply the blockchain-based data recording system in the financial and public sectors. The company seeks to make digital transactions and authentication secure and cheaper.

Is blockchain technology the way to go for logistics companies? Leave us your opinion in the comments section.