South Korea’s central post service, Korea post partners with crypto exchanges of the country to implement a Blockchain billing system. Together the South Korean government and local private companies will work on the new project. The private companies include Coinplug and global IT firm NHN.

The implementation will be operational under the Ministry of Science and ICT. The project will receive $677,000 as a grant from the South Korean authorities. The project will apparently start in the innovative city of Naju.

The national postal service will also consider extending the venture overseas. This is not the first instance where a major body has decided to implement blockchain in its system. Recently, South Korea’s top utility firms have joined hands to develop a blockchain-powered system for Renewable Energy Certificates. Apart from this Shinhan Bank of Korea will launch a Blockchain Loan System.