Korea : Blockchain Based Nexledger Platform Being Developed In Partnership.

Korea : Blockchain Based Nexledger Platform Being Developed In Partnership.

2018-09-16 | Eddy Morgan

Korea : Blockchain Based Nexledger Platform Being Developed In Partnership.

According to an official press release by the company, Samsung SDS- the IT subsidiary of the Samsung Group, would soon develop a blockchain-powered platform supported Nexledger, which would be used for export customs supplying services. Nexledger could be a blockchain based platform designed and would be providing an integrated answer to the businesses wanting to minimise large scale expenses whereas managing digital monetary transactions and data exchange.

The new product is reportedly geared toward organizations active in export operations, enabling them to contour and secure document sharing at every stage, from customs declarations of the exported merchandise to the delivery, additionally to sleuthing and preventing the employment of forged documents.

Along with the Customs Service Agency in Korea, 48 completely different organizations, together with public agencies, shipping, and insurance firms have additionally insurance firms have additionally entered this agreement.

The future platform isn't the primary blockchain-powered supplying project developed by Samsung SDS. Even in June, the firm revealed its Cello 3.0 platform, which is able to combine the both AI technology along with the company’s “logistics knowhow.”

Later in Aug., Samsung SDS proclaimed the launch of BankSign, a blockchain-based certification tool for banks and a joint project with the Federation of Korean Banks. BankSign reportedly allows customers to amass a certification that's valid for up to 3 years, replacement the prevailing certificate system, which needs annual renewal and registration and authentication with every individual bank.

U.S. Customs and Border Protection is additionally wanting to adopt blockchain for its cargo following system. The agency proclaimed in August that it'll launch a live testing of the system, the results of which will outline how the blockchain is able to reinforce the verification method of certificates of origin from partners of the North American trade Agreement and therefore the Central America trade Agreement.

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