South Korean Government announces plan to use beef-tracking blockchain

By Harry Menear
Seoul announced this week that a joint partnership between the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs has i...

Seoul announced this week that a joint partnership between the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs has implemented blockchain technology to track beef along the procurement and supply chain streams.

Yonhap reports that, “the program testing phase is scheduled for December and the official system launch is scheduled for January 2019.”

The ministries plan to distribute the digital ledger technology in order to “track beef through the supply chain to provide consumers with information about the source of their food.” Blockchain technology as a way to enforce accountability and transparency along the supply chain is one of the most common uses of the software.

In “August, the South Korean government announced that it was earmarking US$4.4 billion in its budget for 2019 to go towards eight critical sectors including blockchain, big data and artificial intelligence”, CNN reported.

SEE ALSO: 

“The government will focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy,” according to a statement by the South Korean Government.

In August, the largest exporter of grain in Australia, the CBH Group, partnered with a local startup to use blockchain technology to track oat shipments. And this month, French supermarket Carrefour announced plans to use blockchain to track poultry shipments.  

Share

Featured Articles

No going back on e-commerce - FedEx Express AMEA CEO

FedEx Express survey shows that SMEs and consumers in AMEA region feel there’s room for further growth in the already booming e-commerce market

Behavioural science 'key to procurement change' - Loseby

David Loseby of Suppeco tells the Supply Chain Digital show why behavioural science has a vital role to play in procurement digital transformation

Walgreens CPO Jim Townsend to speak at Procurement LIVE

Walgreens Boots Alliance Chief Procurement Officer Jim Townsend will be speaking at Procurement & Supply Chain LIVE London on 13 October

Managing risk 'crucial' - Gartner Supply Chain Symposium

Supply Chain Risk Management

Air cargo resilience is focus of World Cargo Symposium

Logistics

Sustainability measurements lacking, says EY survey

Sustainability