• Tue, 18 Jun 2019, 08:40 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Korea Customs Service seeks to implement blockchain and AI

Image via Wikimedia

Fri, 28 Dec 2018, 07:37 am UTC

The Korea Customs Service (KCS) has announced that it has completed the technology verification of blockchain technology and artificial intelligence (AI) for their application in the e-commerce business.

The agency held a meeting on December 26 which focused on integrating blockchain and AI into the e-commerce business. At the meeting, a demonstration was also conducted to confirm the results of technical verification for the introduction of these innovative technologies in the field of customs administration.

For the blockchain application, Korea Center Co., Ltd., CJ Korea Express Co., Ltd. and Lotte Global Logistics Co. participated in the pilot project and conducted the technical verification.

Based on the technology verification, the KCS plans to develop an AI-based X-Ray in 2019 and apply it to Incheon Customs Express Logistics Center in the second half of the year. It will enable to verify the accuracy of the report items and whether illegal goods are brought in or not through X-ray.

The KCS said that blockchain technology will enable e-commerce companies and transportation companies to share information on orders and transportation of goods in real time. Then, it will use AI X-Ray to determine the accuracy of the information – that is, whether the information provided matches the actual products.

“In order to establish the basis for the introduction of the block chain technology, the pilot project will be expanded and implemented along with the improvement of the customs legislation and other systems,” the release said.

The KCS further added that it will “use its block chain and new artificial intelligence technology to do its best so that convenient and prompt customs clearance as well as blocking of illegal goods will be carried out in customs clearance of foreign direct goods.”

[Some sections of the article have been translated online from Korean]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,158.96 (-0.07%)
  • Ethereum (ETH) $269.96 (-0.33%)
  • XRP (XRP) $0.439600 (+1.94%)
  • Litecoin (LTC) $131.16 (-3.39%)
  • Bitcoin Cash (BCH) $419.78 (-2.48%)
  • Bitcoin (BTC) $9,158.96 (-0.07%)
Jun 18, 2019 (Tuesday)
06:36
BitTorrent creator Bram Cohen becomes CEO of Chia Network as Ryan Singer steps down
06:15
Overstock.com subsidiary Medici Land Governance puts Wyoming County's land records on blockchain
05:39
Canada's Shoppers Drug Mart partners with TruTrace Technologies to launch blockchain-based cannabis tracking system
05:15
Ripple to invest $50M in MoneyGram to boost XRP adoption in new strategic partnership
05:09
Binance to issue bitcoin-pegged token on Binance Chain
04:04
Polish Alior Bank authenticates documents with public ethereum blockchain
03:28
South Korean cryptocurrency exchanges to be held accountable for user losses
03:27
Russian Central Bank considers CBDC issuance, but not "right away"
Jun 17, 2019 (Monday)
11:35
Nomura and Nomura Research Institute to develop blockchain-based platform for exchanging securities and other rights
10:53
Samsung interested in collaborating with platform companies on blockchain, AI, 6G
08:57
Canadian Securities Administrators includes blockchain and crypto-assets in Business Plan for 2019-2022
08:24
BnkToTheFuture acquires Altcoin.io to build non-custodial securities token exchange
08:09
Crypto Technicals: Ripple bounces off 50-DMA support, on track to test $0.47
07:44
MGI teams up with Thales to develop blockchain-powered cargo community system
07:13
Mitsubishi Electrics, Yaskawa Electric and other Japanese manufacturers to use blockchain tech for data sharing: Report
07:13
Security token platform Polymath teams up with blockchain-based digital ID startup Blockpass
04:54
Seoul announces ₩50 billion 'Fourth Industrial Revolution Fund', focus on 5G, AI, blockchain, big data
04:28
Crypto Technicals: Bitcoin bulls renlentless, BTC/USD scales new 13-month highs, bias still bullish
03:18
Brazil authorities to develop regulatory sandbox for blockchain, DLT
03:18
Austrian steel firm Alukönigstahl develops blockchain-powered database "STEEL but SMART" for steel trading
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft