Samsung Blockchain Tapped By S. Korea’s Customs Service

Source: Cryptodaily.co.uk, originally published on .

https://cryptodaily.co.uk/2018/09/samsung-blockchain-korea-customs/.

Samsung Blockchain Tapped By S. Korea’s Customs Service

Samsung SDS on Friday announced that South Korea’s Customs Service will use the company’s blockchain solutions to implement a decentralized customs clearance system. SDS is the company’s IT division that houses innovations such as Nexledger blockchain and biometric solution Nexsign.

Per a new agreement, 48 Korea-based institutions such as public agencies, shipping companies, insurers and other stakeholders will participate as distributed nodes to bring transparency, efficiency and security to the customs process. Use cases include sharing of necessary documentation and fraud prevention such as inability of smugglers to forge documents.

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