Great news for Samsung and Blockchain technology. The company is trying to improve its Smart Logistic Platform, Cello, by capitalizing investments in Blockchain and artificial intelligence. The information was released during a press conference held by Samsung SDS in South Korea.
Samsung SDS Searches Investments in Blockchain
Samsung SDS CEO, Hong Won-pyo, explained the upgrades they were planning for their smart logistic platform known as Cello. The platform works with different chain suppliers offering transportation systems, chain planning services and more.
The Cello Platform explains:
“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.”
With this improvements, the logistic chain will increase its efficiency with artificial intelligence algorithms alongside with blockchain integrations.
“For (new, emerging) technologies like blockchain, the most important task is creating many real-life use cases proving their utility and value,” commented Mr Hong. “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,” he stated.
The Samsung SDS Cello platform was launched in 2012 in order to work as a provider for Samsung Electronics. Since then, the company has been expanding using different emerging technologies. It has attracted several investors and invested in research and development.
At the same time, according to the Korean Herald, Samsung SDS will handle around 488,000 tons of air cargo and more than 1 million units of twenty-foot equivalent ship cargo in 2018.
With the new improvements, the company is searching to solidify its position as one of the largest logistic firms by volume. Blockchain and AI will allow cost reductions, more precise data, the creation of tracking systems and more.