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In its relentless effort to explore decentralized applications, the Korean Customs Service (KCS) will test an e-commerce customs. demining platform powered by blockchain technology.
In an announcement last week, the Korean customs authority revealed that it had signed a memorandum of understanding with a number of e-commerce companies to develop, test, and carry out transactions on the untitled blockchain customs platform. Participants include CJ Korea Express and Lotte Global Logistics, two transport and logistics companies.
It was said of the pilot:
Through this pilot project, we will conduct a technical audit for the practical and effective application of blockchain technology in the area of electronic commerce clearance and plan to improve related laws and systems .
The blockchain platform allows mutual sharing of information between participants and generates automated import clearance reports from authorities, the KCS added.
In particular, the Authority confirmed that it was carrying out research and development work on a custom clearance platform specifically designed to increase the efficiency of the handling of goods and services. e-commerce.
A complete pivot to implement a blockchain solution would prevent falsification and falsification of information related to e-commerce transactions and would help customs clearance authorities to share information in real-time and seamlessly, the claimed authority.
As previously reported, the blockchain pilot project could involve up to 50 domestic companies on the export side and 10 others based in Vietnam and Singapore for imports to test the blockchain-based customs clearance system.
The KCS has already participated in a seven-month supply chain pilot project led by Samsung SDS, the computing subsidiary of the Samsung electronics giant, in a consortium that also counts a number of authorities government, logistics companies and marine operators.
Image of Shutterstock's South Korea Shipyard.
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