Samsung (KS:005930) SDS, the IT arm of the South Korean tech company Samsung Group, announced on Wednesday that it would leverage blockchain and artificial intelligence (AI) technologies for its logistics platform Cello Square (NYSE:SQ) 3.0. The new platform integrates the company’s logistics know-how and the two of the most disruptive technologies available.
Kim Hyung-tae, VP of the logistics business unit of Samsung SDS, stated:
“We will provide services to global e-commerce sellers with Cello Square 3.0, which combines cutting-edge IT with Samsung SDS global logistics operation experience.”
E-commerce companies will use the platform to cut delivery time and costs by letting Cello Square 3.0 automatically pick the most convenient shipping methods and options. As the platform leverages blockchain, the recorded data cannot be falsified, which increases the reliability of transactions and delivered goods.
“By applying a blockchain technology that cannot be modified or stolen, it will prove the international cargo’s origin and increase the reliability of the product,” Hyung-tae said.
The current blockchain-based trial allows buyers to verify information like the exporting country, the company that exports or imports the selected goods, and the distribution history by putting a smartphone to the NFC (Near-field communication) tag linked to the imported luxury products.
Also, Cello Square 3.0 will offer a mobile tracking solution that will allow clients and shippers to check information on orders and delivery status among other details. The information will be accessed in real-time from smartphones or devices with an Internet connection.
Samsung SDS said that it would also come up with a premium solution to forecast the shippers’ sales volume and to recommend logistics cost savings by assessing sales and demand data with machine learning tools.
Even though Cello Square 3.0 seems to be promising and has aroused interest from market participants, the company didn’t reveal the release date.
At the beginning of this month, Samsung SDS announced its intention to launch Nexfinance, a cutting-edge platform that also relies on blockchain and AI for solutions in the digital finance space.
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