Food Titan And Telecom Titan Of Korea Joins Hand For A Blockchain Project

Largest telecom corporation of South Korea, KT has recently teamed up with Nongshim Data System (NDS), the tech wing of food producer Nongshim. Both the companies have signed the deal for a food supply chain management project that will make use of blockchain technology.

The blockchain project mentioned above will be developed for the food safety network. Both the conglomerates will create a range of services that will help the farmers, retailers, and distributors to sustain a transparent supply chain management program.

The spokesperson of both the company has affirmed that they have conducted an extensive series of test on its distribution network based on the blockchain technology. The blockchain built platform can now assess supply chain information of beef products in just 10 minutes. If the blockchain platform is not used then to gather the news, it takes six days for them.

In the future KT is planning to offer a massive range of services using blockchain. Last March the company has shared details about its GiGA blockchain platform. Now the company is gearing up to provide cloud-based blockchain services to different companies.

The spokesperson of both the companies has further added that customers can access full supply chain data by simply scanning the QR code printed on the product available in the supermarkets. The partners are hopeful that they will accomplish the venture by the conclusion of 2019.

This year KT has also introduced its blockchain-backed healthcare platform in partnership with mobile healthcare platform. They as well have introduced a blockchain-backed system for sharing medical records among the caregivers. The company is also planning to launch a blockchain-based energy transaction platform in the future. Presently they are developing stablecoin backed by local currency.

Nongshimon, then again, is also expanding its blockchain venture. Currently, they are working with KISA and government of the country to develop a blockchain-based platform that will issue HACCP certificate to the restaurants and food producers of the country.