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
Zcash launches new software for Sapling hard fork
Privacy-enhanced coin zcash is set to receive a major upgrade with the release of networking software compatible with its upcoming Sapling hard fork.
Coinbase backs $12.7 million in startup funding
Startup Securitize has raised nearly $13 million in a Series A funding round as part of its initiative to issue digital products of traditional securities on the blockchain.
