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.
  • Bitcoin (BTC) $36,790.90 (-5.06%)
  • Ethereum (ETH) $1,170.09 (-1.45%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Litecoin (LTC) $142.54 (-4.65%)
  • Cardano (ADA) $0.304000 (+0.05%)
  • Bitcoin (BTC) $36,790.90 (-5.06%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
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.