Samsung SDS, one of the Samsung Group companies, is going to use its blockchain platform to create the world's first customs clearance system for the South Korean Customs Service.
In July, the Korea Customs Service selected Samsung SDS to implement a project to create a new export customs clearance system in response to the growing volume of traditional and e-commerce.
Samsung Group's IT division will use a blockchain platform designed specifically to create such a system. The Nexledger platform will allow mobile device users to securely access various services through the encryption of biometric information for certification.
The company noted that the new logistics system will allow institutions and companies associated with exports to quickly and easily exchange various documents with each other, including customs declarations and delivery notifications. The system will also prevent forgery or falsification of documents. It is capable of processing a large number of transactions in real time and will support smart contracts for security and convenience.
Samsung is already using its platform in various industries, including financial, manufacturing and logistics.
To keep up with progress, Samsung intends to further develop blockchain technology, combining it with other innovative technologies, such as artificial intelligence, cloud service.
You May Also Like
Whiskey on the blockchain? Anything is possible
Fusion Whiskey, along with its partners Adelphi Distillery, have announced that they will begin releasing The Winter Queen, a cocktail made from Scotch and Dutch malt whiskeys and innovative blockchain technology.
Blockchain was declared unsuitable for holding elections
Researchers from the Initiative for CryptoCurrencies and Contracts, who study traditional and blockchain voting, do not share the enthusiasm of many and believe that blockchain will not only not help improve the voting process, but will also significantly worsen the situation.
