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S Korean Fishermen, Farmers To Use Blockchain Trading Platform

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South Korea’s South Jeolla Province is set to launch a blockchain-powered platform that it says will allow farmers and fishermen to trade their produce via a shared, distributed ledger.

Source: iStock/momcilog

The province is one of the country’s biggest agricultural providers. Some 40% of its population works in the fishing or farming industries.

The platform has been developed in conjunction with the country’s Ministry of Science and Technology, as well as the Ministry of Information and Communication. No time frame for the launch of the platform was given.

South Jeolla authorities claim that when the platform is operational, it will allow producers and buyers to monitor production, distribution and trading processes in real-time. Parties such as farmers, fishermen, food processing companies, vendors and consumers will all be able to access and trade on the platform.

The developers also say users will be able to access the platform via their mobile phones, and that the system will allow direct smart transactions. The developers also state that agriculture professionals can use the platform to prove they meet government-issued environmental, health, safety and sustainability standards.