Cryptonews Blockchain News

S Korean Telecoms, Food Giants Team up for Blockchain Project

Adoption

Blockchain

South Korea

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Last updated:

June 26, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Two of South Korea’s most blockchain-keen conglomerates say they will team up for a joint food supply chain project that makes use of the technology.

Telecoms giant KT has sealed a deal with food producer Nongshim’s own tech arm, Nongshim Data System (NDS). The companies say they will create a blockchain-powered food safety network and create a range of services that will allow retailers, farmers and distributors to maintain transparent supply chains.

NDS says, per First Media, that it has already conducted a range of tests on its own distribution network, and says that with the use of blockchain technology, it can now access supply chain data on its beef products in the space of 10 minutes. Without the blockchain network, the company says the checking process would take up to six days.

The companies say that their new platform will allow customers to access full supply chain data by scanning QR codes on products available at supermarkets. NDS and KT say they hope to complete work on the project by the end of 2019.

KT says it will also step up its services offerings. The company released details of its GiGA Chain Blockchain as a Service (BaaS) platform in March this year, and now says it is ready to offer cloud-based blockchain development services to companies.

It has been a busy few weeks for KT and its blockchain activities. The company recently announced it was joining a mobile authentication platform project based on blockchain technology with its two biggest rivals, LG U+ and SK.

Earlier this summer, KT also expanded its blockchain-powered healthcare offerings, with a mobile healthcare platform, as well as a blockchain-powered system for sharing medical records between care providers. The company is also expanding its nationwide local cryptocurrency/stablecoin initiative – and hopes to launch a blockchain-powered energy trading platform in the near future.

And as previously reported, in May Nongshim began working with government ministries and the Korea Internet Development Agency (KISA) on a project that will see blockchain technology employed to issue HACCP certificates to Korean restaurants and food producers.