Samsung Electronics Co. may use a blockchain ledger system to manage its massive global supply network, Bloomberg reported on Sunday.

The world’s largest smartphone and chipmaker is considering using the technology behind cryptocurrency to track its global shipments, worth tens of billion of dollars a year. The system could cut shipping costs by 20 percent,  the report said, citing Song Kwang-woo, unit Samsung SDS Co.’s blockchain chief.

The news comes as companies worldwide announce plans to use blockchain technology for a widening range of tasks, even tracking the life cycle of chickens. SDS is working on the system for Samsung Electronics. Read more here.

ThirtyK Staff
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