The provincial government in Chungcheonbook-do, western South Korea, announced today they would support the development of a blockchain-based consumer goods tracking platform. The platform is designed to prevent fraud in the consumer goods industry.
The project was selected by the Ministry of Trade, Industry, and Energy as part of its Industrial Innovation Foundation contest which set out to select various solutions for industry and business growth. The project is hosted by the Korea Institute of Industrial Technology and Inha University.
The project will about $10 million of investments from various sources. Of those funds, about $6.7 million will be from national government purses, $2.6k will be from provincial government pools, and the rest will be from private investments. The project’s development and promotion period will continue for three years starting this year.
The platform uses blockchain technology to record the distribution process starting from a product’s first shipment all the way to the consumer’s purchase. The blockchain solution prevents data forgery after entry and all but eliminates the possibility of falsification. Therefore, consumers will be able to check the product’s shipping history such as which country or which factory a product came from in addition to the other points at which it may have stopped on its way to the outlet for purchase.
For full functionality, it will require the implementation of a QR code and scanning system. An automated device will scan each QR code and store the data of its whereabouts via blockchain. This solution may also prevent damage to goods.
김종현(2020.08.13) 충북도, 가짜상품 유통방지 블록체인 플랫폼 구축
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