South Korea’s largest telephone company, KT Corporation, and Nongshim Data System (NDS), a tech affiliate of the food and beverage company Nongshim, have signed an agreement to develop a blockchain-based food safety system to allow for greater transparency in the supply chain of agricultural products and processed foods.
According to a report by Cryptonews.com, the blockchain solution will keep precise records of the entire distribution process, from farms to store shelves. This service will enable the efficient regulation of the whole supply chain.
NDS has already demonstrated the efficiency and reliability of agricultural records that rely on distributed ledger technology (DLT). After testing the system on a meat distribution chain, the Nongshim affiliate reported that traceability times were greatly reduced from six days to less than 10 minutes.
The two companies announced that they plan to complete development of the platform by the end of the year, allowing customers to access full supply chain data by scanning QR codes on food products sold at supermarkets.
This collaboration with NDS is only the latest foray by KT in the blockchain space. The Korean telephone giant is expected to launch more DLT-based products, including its GiGA Chain BaaS (Blockchain as a Service) platform that was announced in March this year, as well as its cloud-based blockchain development services intended for enterprise use.
In May, KT, in partnership with mobile healthcare solutions firm Lemon Healthcare, revealed it was developing a blockchain-based hospital platform service for sharing medical records between care providers.
More recently, KT announced that it was participating in a mobile authentication platform project using DLT in collaboration with its competitors SK Telecom and LG U+.
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