On the 29th July, South Korea’s state Defense Acquisition Program Administration (DAPA)
announced that it is working with multiple other agencies for an interoperable blockchain system. The arms procurement department hopes to create a more transparent and fair platform for military administration.
Three days before the announcement, DAPA made an agreement with the National Defense Science Institute, Defense Technology Quality Agency, and Korea Defense Industry Promotion Association to build the distributed ledger technology (DLT) solution.
They plan is to use blockchain to track the entire bidding process from the receipt of proposals to the evaluation of bids on defense contracts. Ultimate this should reduce the risk of fraud and increase efficiency by using one system between them. South Korea’s military funding programs will also be logged on the blockchain.
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