Korea uses Samsung’s blockchain technology to combat customs fraud

Korea uses Samsung’s blockchain technology to combat customs fraud

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Answer Korea uses Samsung’s blockchain technology to combat customs fraud

The South Korean Customs Authority is looking forward to adopting the blockchain technology that will be provided by the Korean giant “Samsung” as the backbone of its decentralized customs clearance system.

Foundation said,Samsung SDSWhich represents the technology and information arm of the conglomerate on Friday; that the Korean Customs Service has signed a Memorandum of Understanding providing for the use of the platform”Nixelgerfor Samsung to build the new platform.

Forty-eight local institutions, including public agencies, shipping and insurance companies, signed the memorandum of understanding, according to the company, with the aim of participating as a contract on the distributed network to bring more transparency into the customs process.

Everyone seeks to participate in the new decentralized platform such as: “customs statements” and “delivery forms”, and it is designed “mainly to prevent document fraud” in addition to making the export process more efficient.

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The accession of the “Korean Customs Service” to the Union

The Korean Customs Service began working with Samsung on a blockchain use case last May when it joined the newly launched Global Shipping and Logistics Consortium.

News website CoinDesk also reported in April that Samsung SDS has already begun work on developing a blockchain platform for international shipments — one that costs in the sector are expected to drop by 20%.

Pioneering projects that will be based on the blockchain

The new customs initiative is in line with the South Korean government’s overall agenda to advance the adoption of blockchain technologies in public services, after allocating earmarked government funding for it. The Ministry of Information and Communications Technology is currently focusing on developing six pilot projects for public services, one of which will be specialized in customs clearance.

It is worth noting that South Korea seeks to double its uses of blockchain technology in the public sector during the current year and before the end of next year, and aims to increase the projects that rely on this technology.

The Korea Internet and Security Agency (KISA), a subsidiary organization of the (Ministry of Communications and Information Technology), said it aims to increase the number of pilot projects in the public sector from 6 this year to 12 in 2019, CoinDesk Korea reported last Tuesday.

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“Next year, we are considering expanding the scope of the pilot projects in the public sector to 12 projects, and we plan to support more than 3 national projects at the private sector level,” said Min Kyung-sik, head of the Catachine team.

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