According to a post published on July 18, 2019, KT (formerly Korea Telecom), South Korea’s largest telephone company, and Nongshim Data System (NDS) an IT affiliate of the food and beverage company, signed an agreement to develop a blockchain-based food safety record system, once again expanding their blockchain services.
Blockchain for food transparency
South Korean telecom giant, KT, and Nongshim Data System (NDS), an affiliate of the homonym food and beverage company, have joined forces to create a blockchain-powered food safety network to achieve transparency in the distribution process of agriculture products and processed foods.
The solution will be applied to the entire distribution process, from production to final sales, guaranteeing the immutability of the data entered. The goal is to create a service that ensures that the distribution process is more easily and efficiently controlled. Through the control of data on food production and their systematic management, productivity would also improve. In the current distribution process, most of the existing operations such as contracts, agreements, and others are managed manually. Thanks to blockchain technologies, these operations would become advantageous in terms of efficiency and costs.
According to the source, last year NDS had already demonstrated the efficiency and reliability of an agriculture record system using blockchain technology. In fact, after testing the system on a meat distribution chain, controlling the processes of slaughtering, packaging, and sales of the product using Internet of Things (IoT) equipment, it was confirmed that the traceability time was reduced from six days to less than 10 minutes.
The two companies declared their intention to complete the development of the platform for the second half of the year, allowing customers to access full supply chain data by scanning QR codes on products available at supermarkets.
Highlights from KT’s year in Blockchain
The company recently announced it was joining a mobile authentication platform project based on blockchain technology together with SK Telecom, LG U+, Samsung Electronics, KEB Hana Bank, Woori Bank e Koscom 7. The consortium said its platform should be available on almost all South Korean smartphones as of 2020.
Earlier in May, KT, joined hands with Lemon Healthcare, a Seoul-based mobile healthcare solution company, to co-develop and start the operation of a blockchain-based smart hospital platform service for sharing medical records between care providers.
In that same month, the company began working with government ministries and the Korea Internet Development Agency (KISA) to issue hazard analysis and critical control points (HACCP) certificates on the blockchain in South Korea; HACCP is a food safety standard developed in the United States, but now used internationally.
Last but not least, according to February a 14, 2019 report, KT Corporation is responsible for the development of a native cryptocurrency, called the K-coin, for the city of Gimpo. In spite of anti-crypto legislation, the South Korean government is supporting blockchain adoption, following a tradition of forward-thinking openness to new technologies.