Blockchain technology is all set to be used for the implementation of Korean custom services. For this purpose, the Korean Customs Service (KSCS) selected the renowned Samsung SDS to provide its cutting-edge blockchain platform called the Nexledger.

Agreement between Samsung SDS and KCS will greatly enhance service-delivery

According to the press release by Samsung, the two entities signed the memorandum of understanding. The agreement also saw the participation of 48 other business entities including insurance providers, logistics firms, shipping operators and government authorities.

This agreement will greatly assist export-related companies to share various shipping documents in a transparent manner, which will help in curtailing document forgery and other forms of white-collar criminal activities. Moreover, it will also reduce document-processing delays, eventually speeding up the overall custom clearance process.

Vice President of the logistics division of Samsung SDS, Mr. Kim Hyung-tae expressed his optimism by stating that, “we will play our role in uplifting the competitiveness of Korean national logistics setup with the successful completion of this project.”

Samsung SDS assisting both the public and the private sector by utilizing blockchain technology

Nexledger was launched in April 2017. It provides a cloud-computing solution for government authorities like the KCS and other corporations to develop their own services as an added layer. The Nexledger platform provides several features including smart contracts, real-time transaction processing, and management monitoring systems created for various types of industries.

This is not the first time that Samsung SDS would be working for a government project. Earlier, Seoul metropolitan government selected it to transform the capital city’s municipal governance by the year 2022 using Nexledger. Here again, the basic aim was to provide convenience to the citizens and enable transparency.

Apart from provisioning services to government agencies, Samsung SDS has been facilitating banking sector as well. Last month, it announced the launching of a banking certification ecosystem called ‘BankSign’. It is also based on the blockchain technology and designed to greatly simplify inter-banking transactions.

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