News coming from South Korean has it that the government of the country is set to start using blockchain technology to track the supply cycle of beef (meat from cattle) within the country.
Beef Tracking Platform
According to the report announcing the new innovation, the program will be under the monitoring of the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs.
The government of the country has already fixed a date for the launch of the platform— sometimes next month. The beef tracking platform is expected to launch initially in North Jeolla Province and once the trial phase of the operation is over, a formal nationwide unmasking is expected to follow by January next year.
The existing method used for tracking battles right from birth to slaughter in the country is a paper-based reporting system. This method is considered to be time-consuming as well as resource intensive. This is beside the fact that the method is prone to alterations.
According to the Ministry of ICT, “the blockchain-based system is expected to enhance efficiency and prevent fraud due to the immutable nature of distributed ledger technology.”
Massive Support for Blockchain Technology
The South Korean government has shown great support for blockchain technology in recent times. The country has been consistent when it comes to providing a suitable environment for blockchain innovations to thrive. The government of the country has also done well to employ the use of blockchain technology for a smoother run of its affairs. A case in point is the beef-tracking blockchain pilot. This has been described as the “latest vote of confidence in distributed ledger technology by the South Korean government”.
In a previous report, the South Korean government made it known that come 2019, not less than US$4.4 billion will be earmarked for the development of some specific industry. This includes the blockchain, artificial intelligence and six other. This was confirmed in a statement from the South Korean finance minister Kim Dong-yeon which states that:
“The government will focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy,”