Copy link
Increase text size
Decrease text size
Link copied

KT, Nongshim Data System to implement blockchain tech in food distribution system

Mon, 29 Jul 2019, 12:32 pm UTC

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]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,850.08 (+0.51%)
  • Ethereum (ETH) $229.37 (+0.71%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $326.21 (+2.15%)
  • Bitcoin SV (BSV) $231.03 (+2.87%)
  • Bitcoin (BTC) $8,850.08 (+0.51%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft