KT and NDS team up on blockchain supply chainKT signed an agreement with Nongshim Data System (NDS), an IT affiliate of the food and beverage company, to develop a blockchain-based food safety record system and expand blockchain services into the produce and food distribution industries.
The food safety record system will use blockchain technology to achieve transparency in the distribution process of agriculture products and processed foods. It manages the entire distribution process of foodstuffs - production, processing, examination, retail and sales - through blockchain technology, ensuring that data cannot be manipulated.
NDS demonstrated last year the efficiency and reliability of an agriculture product record system using blockchain technology. After testing the system on the distribution process of beef products, it took only 10 minutes to check the process with the new technology compared to the existing method, which would take up to six days.
The two companies will work together to develop a platform for the record system by the end of this year. If a blockchain-based platform is established, food distribution companies will be able to utilize the technology to manage distribution.
For example, a consumer will be able to easily check the farm, processing facility and distributor of a beef product by scanning its barcode or QR code.
KT is also currently developing an identification system among other services through its GiGA Chain Blockchain as a Service (BaaS) platform, first unveiled in March this year. KT GiGA Chain BaaS allows companies to use blockchain in their businesses by providing development tools and operation systems through the cloud.
It is able to prevent data from altering through its “anchoring” technology that regularly inspects data. It also provides an application programming interface to easily develop smart contracts.
BY WON JAE-YEON [email@example.com]