Samsung SDS: Blockchain can Enhance Manufacturing

April 12, 2019

Hong Yuan Zhen, President and CEO of Samsung Group subsidiary Samsung SDS, has said blockchain technology can enhance productivity in the manufacturing industry, believing it offers a better way to share information and establish “healthy processes.”

His comments were made at the Boao Forum for Asia Annual Conference 2019, held in Boao, China from March 26th – 29th.

The executive reportedly stressed the productivity gains of blockchain technology together with live, real-time data analyses and predictions, noting that communication is particularly important in the process of supply management.

Hong Yuan Zhen said he believes digitalization means more than just technical processes, seeing blockchain as a new idea representing new solutions.

In February 2019, Samsung revealed that its latest Galaxy S10 smartphones include wallet functions for Bitcoin (BTC), Ethereum (ETH), Cosmo Coin (COSM) and Enjin Coin (ENJ). COSMEE, a beauty social media platform that uses COSM to incentivize content creation, claimed it was selected by Samsung as the first partner decentralized application (dApp) supported by the upcoming smartphone. Enji Coin on other hand can reportedly be used to send and receive ERC-20 and ERC-1155 crypto gaming assets.

Speculation had surrounded news of possible blockchain and crypto integration for newer phones, with Samsung dismissing the idea of an integrated crypto wallet in December 2018. Leaked photos the following month nevertheless suggested support for an Ethereum wallet in the new Galaxy S10 series.

The IT and consultancy subsidiary has made prior moves into the blockchain space, having collaborated with Dutch bank ABN AMRO on a pilot project to use distributed ledger technology for shipping. Samsung SDS has also launched its own blockchain platform for finance-related businesses, along with further blockchain implementation targeting the logistics industry.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Dubai Economy Moves to Unified Business Registry on the Blockchain Platform
Dubai Economy has revealed it is moving to a Unified Business Registry Platform hosted on the Blockc...

October 20, 2019

Singapore Offers Courses for Mothers Re-entering Workforce
Singapore’s Ngee Ann Polytechnic and social enterprise [email protected] are working together to develop cou...

October 20, 2019

Binance CEO Signals High Hopes for Blockchain 
Binance CEO Changpeng Zhao believes that blockchain technology can contribute to the development of ...

October 20, 2019

Terra Announces New Partnerships at Korea Blockchain Week
Alternative finance platform Terra has announced that CHAI, its payment DApp, will partner with majo...

October 19, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us