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Samsung SDS successfully pilot a blockchain technique for the Korean maritime industry

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A government-supported blockchain pilot application to record and track shipping logistics and documents related to South Korea's import / export.

Samsung SDS, the computer and technology provider subsidiary of Samsung (the largest Korean conglomerate), successfully concluded a 7-month pilot project to apply blockchain technology to current logistics sites in the industry Korean maritime.

As reported by CCN in May, Samsung SDS began the pilot project alongside the launch of a blockchain consortium consisting of Korean shipping logistics companies, public research centers, government authorities such as the Korean Customs Service and the Department of Oceans and Fisheries. as maritime operators. The goal? Implement a blockchain application to power all logistics processes for "all exports and imports by the end of the year".

The seven-month pilot was successful. As revealed by Samsung SDS, import / export documents and logistics documents relating to shippers, shipping companies, customs agents and banks were stored on blocks and accessed on a real-time immutable registry to simplify the process. process of issuing documents. ]

The pilot debuted shortly after Samsung SDS launched "Nexledger", its B2B blockchain platform ready for use in April. A first test saw the entire logistics process of a shipment between Korea and China between the participating shipping company, port operators and goods owners delivered using blockchain technology .

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Beyond the paperwork, the blockchain also facilitated the shipping of fresh produce in which data relating to the position, temperature and moisture of the food product were relayed to the general ledger by the 39; IoT (internet of things). The benefits of such real-time transparency allow an accurate estimate of marine insurance premiums during breaks or any other problem during the shipping process.

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Kim Hyung-tae, vice president of logistics at Samsung SDS, said:

Through this pilot project, we confirmed that the blockchain technology can raise the level of the logistics information network to a new level of shipping.

Image of the Shutterstock Samsung shipyard.

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