Blockchain Tech Can Leverage Productivity in Manufacturing, Said Samsung SDS CEO

By Anne W. | March 28, 2019

Hong Yuan Zhen, President and CEO of Samsung SDS – a consultancy and IT subsidiary of Samsung Group – has stated that global manufacturing industry can take advantages of blockchain to increase its productivity.

The 4-day “Boao Forum for Asia 2019 Annual Meeting”, which held in Boao, Hainan province from March 26 to 29, has gathered various experts and professionals from different industries. Reported by local media agency Sina Technology News, while giving speech in the event, the CEO has highlighted the impact of IPA and blockchain technology.

“In the whole process of supply chain management, communication is very important, data needs to be collected, and through blockchain and AI, we can improve processes and enhance trust so that we can share information better, so a healthy process is established.”

Hong Yuan Zhen has claimed his belief in blockchain technology, which can offer businesses technical support, as well as the capability to drive better business solutions. He also added that the future of digitalization is worth believing, “digitalization is more than a merely technical process”.

Reported by The Crypto Sight on Mar. 1, Samsung Galaxy S10’s cold wallet was introduced to support at least 4 cryptocurrencies including Bitcoin and Ethereum. Earlier, Samsung has confirmed that their newest smartphone will be providing key storage for cryptocurrency.

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