ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Friday Nov 16th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

The Korea Customs Service To Participate In Blockchain Pilot Program

By

Nathan

Graham

WriterETHNews.com

The South Korean customs service has partnered with logistics company the Korea Center to develop a blockchain platform designed to simplify the clearance of goods.

In March of this year, ETHNews reported that the Korea Customs Service (KCS) had revealed plans to use blockchain technology in order to prevent smuggling and trade finance fraud, as well as to increase communication and transparency through real-time information sharing.

Today, local outlet Chosun reported this plan came one step closer to fruition when the KCS signed a Memorandum of Understating with the Korea Center to develop a blockchain-based platform to improve the process of clearing items through customs.

The Korea Center is no stranger to the challenges of logistics. The company currently runs Malltail, one of the biggest package forwarding services in Korea, and will be responsible for the development and verification of this new blockchain platform.

According to the article, "When blockchain technology becomes fully scaled, the process of clearing goods through customs will be simplified through mutual sharing of information [and the automatic generation of reports] ... It is expected that customs service will become more transparent."

Several companies, such as Matrix Tobi Co. Ltd., Nomad Connection Co. Ltd., and CJ Korea Express Co. Ltd., are participating in the pilot program, which will be operated by the KCS in several Malltail distribution locations in Japan, Germany, and the US.

Kim Kee-rok, CEO of Korea Center, said, "I am very pleased to be selected as a participating company in this pilot project to establish a blockchain e-commerce customs platform ... In the future, [I plan to introduce] a full payment service."

The KCS and Korea Center are the latest organizations that are looking to blockchain technology to improve their efficacy, communication, and overall customer service. In November 2017, ETHNews reported that shipping giant UPS was looking into the advantages of using blockchain technology. Just last week, it was reported that US-based Norfolk Southern had joined with the Blockchain in Transportation Alliance (BiTA) to help define the role blockchain technology will play in the fields of shipping and logistics.


Translations approximated with the help of Google Translate.

Nathan Graham

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest South Korea, Korea Customs Service or other Ethereum application news.