Two South Korean government ministries have launched a blockchain pilot for port logistics innovation, according to a press release from the country’s Ministry of Science, ICT and Future Planning (MSIT), published Dec. 18.
MSIT, together with the Ministry of Oceans and Fisheries, are reportedly testing whether the technology can make Korea’s container shipping industry more efficient. As the press release outlines, the pilot will run over a period of one year in the Port of Busan, the country’s largest port, and the fifth busiest container port worldwide.