Samsung plans to launch blockchain-based logistic service

Posted 21 June, 2018

IT department of South Korea's conglomerate – Samsung SDS – has reportedly announced AI-based blockchain platform Cello Square 3.0 to deal with the logistics. 

According to the press release, the blockchain project can provide a real-time tracking of the cargo via a mobile application.

"Cello Square 3.0 has artificial intelligence (AI)-based functions to show sellers the best delivery methods and shipping companies. Sellers can save shipping time and cost using this information," the company stated.

The blockchain and Near field communication system are said to provide a buyer with the information of the origin, producer, importers and exporters, which in fact may reduce the risk of possible fraud and fakes in terms of the international cargoes.

The company is yet to announce the launch date as the media reported. Kim Hyung-tae, the head of the logistics division commented:

"We will provide the best service to global e-commerce sellers through Cello Square 3.0, which combines Samsung SDS global logistics operation experience with cutting-edge IT technology."

Earlier, Samsung division expressed intentions to put on stream Nexfinance, the financial blockchain-based platform for big data analysis.

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