Samsung Implents Blockchain and Produces Bitcoin Miners, Focuses on Crypto
BTC

Blockchain technology is making inroads in many different industries. Samsung, a global technology leader, is now keeping a close eye on this technology. The company plans to incorporate distributed ledgers to manage its global supply network. Samsung also shows a keen interest in manufacturing cryptocurrency mining equipment.

The Impact of Blockchain Technology

Cryptocurrencies have introduced the world to how blockchain technology can be harnessed for many different purposes. For Samsung, it seems this technology can serve as an immutable record to keep tabs on the company’s global shipments. Incorporating a distributed ledger into the existing supply chain will help reduce shipping costs. For a company dealing with billions of dollars in shipments every year, any cost-cutting measure needs to be explored.

This new implementation is being developed with the help of SDS. Depending on how this measure turns out, the impact on Samsung’s supply chains can be rather significant. In its current form, this industry relies on paperwork being sent back and forth between different parties. With a distributed ledger, coordinating with other parties and authorities becomes a lot more straightforward.

The technology in question will be trialed to handle most of Samsung’s products. That list includes smartphones, displays, and so forth. If successfully implemented, blockchain technology will be a valuable tool in reducing the time between product launches and actual shipments. In terms of rivaling with other companies, this method can give Samsung a competitive edge in the industry.

Samsung Keeps a Close eye on Cryptocurrency

This new announcement comes at a rather interesting time for Samsung. Over the past few months, it has become apparent the company is eyeing the cryptocurrency industry as well. More specifically, the firm has shown an interest in developing mining hardware components. For now, Samsung is producing ASIC chips for Halong Mining, a very popular manufacturer of Bitcoin and Ethereum mining hardware.

With this particular venture, the technology giant is bringing some much-needed competition to the mining industry. As of right now, it is primarily controlled by Bitmain. There is plenty of room for other manufacturers, yet none of them makes any big impact. With Samsung backing the effort by Halong Mining, the ecosystem continues to grow.

By tackling both cryptocurrency and blockchain, Samsung is heading in a rather surprising direction. When global technology giants pay attention to these industries, interesting things are bound to happen. The company’s blockchain venture is still in development and has no official “roadmap” as of right now. Other companies in the shipping and logistics industry are also looking for ways to cut overhead costs once and for all.

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Cryptocurrency Price Change 24h Market Cap Volume Circulating Supply Price Chart
1. Bitcoin BTC
$6,415.74
-1.06%
$110.92B $4.36B 17.29M BTC
2. Ethereum ETH
$212.04
-4.39%
$21.67B $2B 102.19M ETH
3. XRP XRP
$0.518442
10.28%
$20.67B $1.66B 39.87B XRP
4. Bitcoin Cash BCH
$436.67
-3.59%
$7.58B $385.07M 17.37M BCH
5. EOS EOS
$5.32
-1.48%
$4.83B $795.73M 906.25M EOS
6. Stellar XLM
$0.245855
-0.07%
$4.62B $103.32M 18.79B XLM
7. Litecoin LTC
$57.24
0.00%
$3.35B $328.92M 58.46M LTC
8. Tether USDT
$1.00
-0.21%
$2.81B $3.33B 2.81B USDT
9. Cardano ADA
$0.078563
-1.69%
$2.04B $75.91M 25.93B ADA
10. Monero XMR
$114.33
-0.43%
$1.88B $29.4M 16.44M XMR
11. Dash DASH
$186.53
-3.05%
$1.56B $160.67M 8.34M DASH
12. IOTA MIOTA
$0.549896
-0.63%
$1.53B $26.5M 2.78B MIOTA
13. TRON TRX
$0.020553
-3.31%
$1.35B $113.45M 65.75B TRX
14. Ethereum Classic ETC
$10.97
1.40%
$1.15B $171.94M 104.82M ETC
15. NEO NEO
$17.62
-1.91%
$1.15B $60.4M 65M NEO
16. Binance Coin BNB
$9.66
-1.78%
$1.09B $18.01M 112.44M BNB
17. Tezos XTZ
$1.50
-0.25%
$908.53M $1.45M 607.49M XTZ
18. NEM XEM
$0.090970
-3.29%
$818.73M $12.67M 9B XEM
19. VeChain VET
$0.012449
-3.25%
$690.35M $19.12M 55.45B VET
20. Dogecoin DOGE
$0.005694
0.57%
$662.19M $17.34M 116.29B DOGE
21. Zcash ZEC
$129.41
-3.02%
$631.46M $109.89M 4.88M ZEC
22. OmiseGO OMG
$3.33
-0.78%
$467.3M $46.54M 140.25M OMG
23. Bytecoin BCN
$0.002093
-1.62%
$385.28M $2.21M 184.07B BCN
24. Bitcoin Gold BTG
$22.22
1.59%
$383.4M $12.2M 17.25M BTG
25. Lisk LSK
$3.27
-0.90%
$361.71M $6.48M 110.52M LSK
26. 0x ZRX
$0.626554
-1.19%
$338.24M $15.21M 539.84M ZRX
27. Ontology ONT
$1.81
-1.96%
$333.5M $32.56M 184.21M ONT
28. Qtum QTUM
$3.58
-2.75%
$317.99M $115.5M 88.92M QTUM
29. Maker MKR
$436.21
-2.09%
$317.66M $544,776 728,228 MKR
30. Decred DCR
$36.46
-1.53%
$311.13M $598,395 8.53M DCR
31. BitShares BTS
$0.111914
-1.15%
$297.78M $6.78M 2.66B BTS
32. Nano NANO
$2.20
-0.28%
$292.58M $11.53M 133.25M NANO
33. Bitcoin Diamond BCD
$1.86
1.04%
$285.46M $5.19M 153.76M BCD
34. Zilliqa ZIL
$0.034105
-0.71%
$265.35M $9.12M 7.78B ZIL
35. DigiByte DGB
$0.023972
-0.51%
$259.93M $2M 10.84B DGB
36. Steem STEEM
$0.910093
-4.29%
$252.44M $6.61M 277.38M STEEM
37. ICON ICX
$0.624937
-2.30%
$242.12M $12.56M 387.43M ICX
38. Aeternity AE
$0.952005
-0.39%
$221.84M $7.31M 233.02M AE
39. Siacoin SC
$0.005920
-2.72%
$219.34M $6.43M 37.05B SC
40. Waves WAVES
$2.12
-1.68%
$212.23M $5.19M 100M WAVES
41. Verge XVG
$0.013548
-3.93%
$205.55M $3.73M 15.17B XVG
42. Metaverse ETP ETP
$3.66
0.83%
$189.19M $9.77M 51.72M ETP
43. Bytom BTM
$0.170774
-1.71%
$171.2M $32.14M 1B BTM
44. Pundi X NPXS
$0.001402
-0.91%
$160.45M $1.97M 114.41B NPXS
45. Basic Attention Token BAT
$0.159028
-0.98%
$159.03M $5.3M 1000M BAT
46. Stratis STRAT
$1.51
0.46%
$149.84M $4.78M 99.03M STRAT
47. Augur REP
$12.68
-4.12%
$139.49M $6.52M 11M REP
48. Hshare HSR
$3.14
43.90%
$136.65M $6.35M 43.53M HSR
49. Holo HOT
$0.000986
-2.75%
$131.35M $3.67M 133.21B HOT
50. Golem GNT
$0.136427
-0.97%
$130.87M $2.32M 959.24M GNT
51. Status SNT
$0.037551
5.72%
$130.32M $13.6M 3.47B SNT
52. Komodo KMD
$1.10
0.99%
$120.92M $458,577 109.84M KMD
53. Mithril MITH
$0.301905
5.86%
$116.96M $18.29M 387.39M MITH
54. Ardor ARDR
$0.113259
4.42%
$113.15M $1.54M 999M ARDR
55. Waltonchain WTC
$2.79
-1.80%
$112.08M $5.93M 40.14M WTC
56. Cryptonex CNX
$2.02
-0.66%
$112M $5.74M 55.48M CNX
57. MOAC MOAC
$1.79
2.19%
$111.78M $70,134 62.46M MOAC
59. Populous PPT
$2.95
-2.30%
$109.25M $1.22M 37M PPT
60. IOST IOST
$0.012622
-3.76%
$106.03M $33.3M 8.4B IOST
61. Electroneum ETN
$0.013216
14.05%
$105.44M $1.31M 7.98B ETN
62. MaidSafeCoin MAID
$0.232388
-3.41%
$105.17M $1.16M 452.55M MAID
63. KuCoin Shares KCS
$1.13
-2.94%
$102.65M $184,703 90.73M KCS
1124. Vulcano [OLD] VULC
$0.012704
0.00%
$101.22M - 7.97B VULC
64. RChain RHOC
$0.264792
-9.73%
$101.2M $264,557 382.17M RHOC
65. ReddCoin RDD
$0.003450
1.57%
$99.39M $1.14M 28.81B RDD
66. Wanchain WAN
$0.887232
-2.95%
$94.18M $1.34M 106.15M WAN
67. TrueUSD TUSD
$1.00
-0.35%
$93.48M $24.29M 93.54M TUSD
68. Dentacoin DCN
$0.000281
3.09%
$91.46M $67,552 325.23B DCN
69. Aion AION
$0.399333
-4.72%
$89.77M $1.64M 224.79M AION
70. aelf ELF
$0.334139
1.24%
$83.53M $6.55M 250M ELF
71. Dropil DROP
$0.003789
1.12%
$83.13M $552,053 21.94B DROP
72. Huobi Token HT
$1.65
-1.38%
$82.63M $12.81M 50M HT
73. Aurora AOA
$0.023795
-8.49%
$82.35M $826,384 3.46B AOA
74. MonaCoin MONA
$1.31
11.36%
$82.07M $5.42M 62.53M MONA
75. FunFair FUN
$0.016151
0.61%
$80.93M $1.04M 5.01B FUN
76. Bancor BNT
$1.38
-3.54%
$79.55M $3.5M 57.72M BNT
77. Horizen ZEN
$15.79
-2.04%
$75.77M $649,371 4.8M ZEN
78. GXChain GXS
$1.25
1.49%
$75.17M $2.25M 60M GXS
79. QASH QASH
$0.214047
0.55%
$74.92M $1.05M 350M QASH
80. Decentraland MANA
$0.070947
-4.20%
$74.5M $3.08M 1.05B MANA
81. TenX PAY
$0.649107
-1.64%
$70.98M $5.31M 109.35M PAY
82. DigixDAO DGD
$35.44
-2.09%
$70.87M $318,637 2M DGD
83. Ark ARK
$0.663643
-5.79%
$69.93M $438,688 105.38M ARK
84. Crypto.com MCO
$4.34
0.94%
$68.47M $4.73M 15.79M MCO
85. Nxt NXT
$0.068135
-2.66%
$68.07M $1.51M 999M NXT
86. CyberMiles CMT
$0.090268
0.89%
$62.95M $5.65M 697.34M CMT
87. Power Ledger POWR
$0.162734
-1.20%
$62.87M $14.59M 386.33M POWR
88. WAX WAX
$0.066795
0.16%
$62.44M $298,459 934.79M WAX
89. Nebulas NAS
$1.35
0.24%
$61.34M $3.12M 45.5M NAS
90. Mixin XIN
$137.63
7.34%
$60.98M $56,178 443,087 XIN
91. Theta Token THETA
$0.085247
-0.72%
$58.31M $1.92M 684M THETA
92. Bitcoin Private BTCP
$2.77
-3.25%
$56.93M $94,727 20.52M BTCP
93. Dai DAI
$1.00
-0.28%
$55.17M $3.25M 55.28M DAI
94. Loopring LRC
$0.092472
-2.62%
$52.9M $8.67M 572.07M LRC
95. PIVX PIVX
$0.919340
-0.12%
$52.2M $358,961 56.78M PIVX
96. Dragonchain DRGN
$0.217429
-5.03%
$51.84M $855,437 238.42M DRGN
97. Elastos ELA
$6.66
-1.94%
$51.34M $1.43M 7.71M ELA
98. Gas GAS
$5.02
-1.20%
$50.88M $574,311 10.13M GAS
99. ZCoin XZC
$8.77
-4.68%
$50.17M $1.06M 5.72M XZC