Won-pyo Hong, CEO of Samsung SDS, reported that it will build a blockchain-based platform for Customs Clearance Service with Korea Customs Service.
The Korea Customs Service (KCS) and 48 others have signed an agreement for customs clearance and logistics service based on blockchain technology. The list includes public agencies, shipping companies and insurance agencies, at the Seoul central station Customs on 14th September 2018.
Samsung SDS will depend on Nexledger to build up a blockchain-powered platform for export customs clearance service. Nexledger is a blockchain platform intended to give an integrated solution for organizations. The services are for the companies looking to decrease costs while overseeing digital financial transactions and data exchange.
The Korea Customs Service intends to set up a cooperation system to mutually respond to changes in the business while rebuilding business procedures and setting up export customs and logistics services with civil organizations taking part in the undertaking.
The blockchain-based export customs logistic service will enable export companies to quickly share documents generated at each stage. It will also detect and block forged documents.
Samsung SDS also developed a blockchain logistic project in June this year. Cello 3.0 platform by Samsung will combine Artificial Intelligence(AI) technology and the company’s “logistics know-how,” as reported by Cointelegraph.
Samsung SDS has demonstrated the development and stability of the Nexledger last year. It promoted the consortium pilot venture of marine blockchain logistics with 38 individuals, government and labor.
Samsung SDS applies Nexledger to different businesses such as finance, manufacturing, logistics and public sector. Nexledger benefits them with real-time mass transaction processing, smart contract and management monitoring system, as Samsung SDS reported.
Samsung SDS believes that with the successful execution of blockchain customs clearance service they can lead the blockchain logistics industry. Kim Hyung-tae, VP of logistics division of Samsung SDS, stated, “We will add to enhance the competitiveness of national logistics by additionally reinforcing the initiative of blockchain logistics field with the fruitful execution of this project.”
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