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South Korean telecom giant KT has announced its plans to expand blockchain-based food distribution ecosystem in collaboration with Nongshim Data System (NDS), an affiliate of South Korean food and beverage company Nongshim.
The objective is to enhance transparency in the management of agricultural and livestock products by applying blockchain to food distribution.
In a press release dated July 19, KT said that consumers would be able to safely consume food as the entire process including food production, processing, inspection, logistics, sales, and consumption will be managed by blockchain technology, which cannot be tampered with.
KT and NDS plan to establish a blockchain-based food safety history management platform in the latter half of this year, which will combine blockchain development platform, GiGA Chain BaaS (Blockchain as a Service), with NDS' food history management solution.
Taking the example of beef, KT explained that consumers would be able to check key details about the product such as distribution routes, information of the livestock industry, processors, intermediate distributors, etc., using the bar code or QR code of the beef packing material.
The real-time recording and verification of all related transactions using blockchain, the companies found that the traceability time was reduced from the existing up to 6 days to less than 10 minutes.
Last September, NDS announced a project that applies blockchain technology to the food safety sector. It said that it plans to introduce cutting-edge techniques in Korea in collaboration with global food tracking solution providers, such as Ambrosus and TE-FOOD.
[The article has been written using online translation of the press release]
