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Tobacco Giant Philip Morris Estimates It Could Save Up to $20 Million by Using Blockchain

Published 04/26/2019, 09:12 AM
Updated 04/26/2019, 09:22 AM
Tobacco Giant Philip Morris Estimates It Could Save Up to $20 Million by Using Blockchain

International tobacco company Philip Morris is considering blockchain use in tracking tax stamps on cigarette boxes, the firm’s spokesperson confirmed to Cointelegraph on April 26.

Philip Morris International (NYSE:PM) is looking to implement emerging technologies such as blockchain in order to improve the efficiency, transparency and cost effectiveness of its business, the company’s representative said in an email to Cointelegraph.

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