South Korea’s customs service has signed an agreement with Samsung SDS to use blockchain technology for its customs clearance system, according to a press release.

Samsung SDS, the IT arm of the electronics giant, will create a blockchain platform based on Nexledger, which helps businesses manage digital financial transactions and data exchange, according to Cointelegraph.

“The new product is reportedly aimed at organizations active in export operations, enabling them to streamline and secure document sharing at each stage, from customs declarations of the exported goods to the delivery, in addition to detecting and preventing the use of forged documents,” Cointelegraph reported. Read more here.

ThirtyK Staff
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