[ad_1]
Two South Korean government ministers have launched a pilot blockchain for port logistics innovation, according to a press release from the country's Ministry of Science, ICT and Future Planning (MSIT), published on 18 December.
According to reports, MSIT, together with the Ministry of Oceans and Fisheries, is testing whether the technology can make the shipbuilding industry more efficient in Korea. As outlined in the press release, the pilot will last a year in the port of Busan, the largest port in the country, and the fifth busiest container port in the world.
The initiative aims to ascertain whether exploiting blockchain technology can increase transparency among all parties in the logistics sector, simplify administrative processes in import and export operations and allow real-time data sharing.
Reportedly, both ministries will collaborate on the project at the start of this year, as part of a "Blockchain Technology Development Strategy", officially announced by MSIT last June.
As reported, other basic pilot projects of the strategy are planned in the real estate sectors, online voting, breeding management, customs clearance and international distribution of electronic documents. The overall strategy aims to raise 230 billion won (about 204 million dollars) by 2022.
If Busan's logistics blockchain pilot will be successful, both ministries plan to expand the initiative on other ports nationwide.
As reported in June, South Korea announced this year a partnership with the US State Department to strengthen the cooperation of the two countries in advancing the so-called "Fourth Industrial Revolution".
The term was given by the World Economic Forum (WEF) to indicate a series of technological discoveries that "will radically change the way we live, work and relate to one another … [across] global politics. "The WEF particularly recognized the main role of the blockchain in the revolution as early as 2016.
In other important blockchain and shipping products worldwide, this logistics and transportation giant from IBM and Denmark Maersk has launched the global dispatch solution with blockchain, which counts 94 participating organizations and 154 million dispatching events already captured at the time of launch.
[ad_2]Source link
