South Korea to Develop Customs Blockchain Platform
May 30, 2018
The Korean Customs Service (KSC) has signed a memorandum of understanding with the company’s local operator Malltail on developing blockchain-based e-commerce platform for customs.
Malltail is the leading parcel delivery service in South Korea with one million customers. The company’s Korean operator, Korea Center, is to be in charge for technical and commercial development of the blockchain platform for the KSC. The service will enable platform for seven distribution centers Malltail in the US, Japan and Germany.
The company plans that customs clearance process will be simplified due to data exchange and automatically created customs declarations as soon as the technology is completely implemented. This would make the service for efficient and transparent.