KT, the largest telecommunications company in South Korea, has announced plans to expand its blockchain-backed food distribution ecosystem in collaboration with Nongshim Data System (NDS), an affiliate of local food and beverage firm Nongshim.
As reported by TokenPost, the aim of the partnership is to improve transparency in the management of agricultural and livestock products through the application of blockchain technology in food distribution processes.
In a press release dated July 19, KT said such transparency would guarantee food quality and safety as the entire process – including production, processing, inspection, logistics, sales and consumption – would be managed via blockchain, thereby ensuring that the records remained unalterable.
KT also explained that consumers would be able to check key details about products, such as distribution routes, industry data, processors and intermediate distributors, using the barcode or QR code on the packaging.
KT and NDS plan to jointly establish a blockchain-backed food safety history management platform in the second half of 2019, combining blockchain development platform GiGA Chain Blockchain as a Service (BaaS) with NDS’ food history management solution.
Companies have found that, through the use of real-time recording and verification on all related transactions, traceability time was reduced from up to six days currently to less than 10 minutes.
In September 2018, NDS announced a project to apply blockchain technology to the food safety sector, noting that plans include introducing innovative techniques in South Korea in partnership with global food tracking solution providers, such as Ambrosus and TE-FOOD.
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