On the 19th July, KT (formerly Korea Telecom)
announced a blockchain partnership with Nongshim Data System (NDS), the IT affiliate of food manufacturing group Nongshim. The project aims to introduce greater transparency and traceability to agricultural produce and processed foods, via a blockchain-based food safety platform.
The benefit of the platform will be twofold. Producers will cut costs by automating processing, contracts and verifying certifications on the platform rather than manually. Consumers will benefit through greater transparency in the supply chain. By scanning a product’s QR code in a supermarket, customers will have access to information about the product’s origin and its journey to the store.
The platform will leverage KT’s 5G blockchain network, GiGa Chain Blockchain as a Service (BaaS), as well as NDS’s experience in this field. NDS previously tested a blockchain-based system on the beef supply chain. It cut time to trace food from the slaughterhouse to store from six days to under ten minutes.
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