Samsung embarks a new blockchain-based project, which has been titled Cell 3.0. According to the announcement made Wednesday, June 20th, the aim is to bring a logistics platform to life, founded on blockchain technology. As for its official launch, details are yet to be disclosed.
Mainly, the released statement suggested that this effort will combine artificial intelligence along with Samsung’s IT arm, Samsung DS. The Vice President of the logistics dept at Samsung SDS, Kim Hyung-tae, believes that services will be accessible across worldwide e-commerce markets.
The Cell 3.0 is supposedly one of several projects that Samsung is considering, as the firm previously mentioned the specs of a blockchain-based platform called Nexfinance, which focuses on the financial sector.
Regardless, their current target being logistics is crucial, as it is a growing problem that many operators like DHL and FedEx still continue to face. Generally, this industry is still in need of better practices related to safety, cost management and how everything is run.
Here is a strong point that was made in the press release:
“By applying a blockchain technology that cannot be modified or stolen, it will prove the international cargo’s origin and increase reliability of the product.”