Ultimate magazine theme for WordPress.
BTC
$56,570.56
-0.85%
ETH
$4,522.87
-1.26%
LTC
$203.72
-2.05%
DASH
$176.39
-0.07%
XMR
$239.04
+3.95%
NXT
$0.02
-0.85%
ETC
$47.15
-0.97%
DOGE
$0.21
+0.87%
ZEC
$227.08
+2.56%
BTS
$0.05
+5.74%
DGB
$0.05
+1.13%
XRP
$0.97
-0.84%
BTCD
$142.11
-0.85%
PPC
$0.89
-1.35%
CRAIG
$0.01
-0.85%
XBS
$2.63
+2.01%
XPY
$0.01
-13.56%
PRC
$0.00
0%
YBC
$1,800.98
-68.95%
DANK
$0.02
-0.85%

Leading South Korean telecom firm adopts blockchain for carbon ambitions



A major South Korean telecommunication company, KT Corp, has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions.

The telecommunications firm currently provides around 90% of the nation’s fixed-line mobile networks, as well as a further 45% of broadband high-speed internet services.

The e-document venture titled “E-document Digital Transformation (DX) One Team” will be a collaborative effort between fourteen businesses with the established objective of reducing the network’s carbon emission output.

Once implemented, the initiative will digitize the entire tenure of the paper-based documentation process ranging from creation through to storage and finally customer distribution.

The numeral goal is to convert 4.5 billion paper documents into e-documents each year, considerably reducing carbon emissions by 129.6 billion tons.

In March 2020, the firm launched a blockchain-based platform called Paperless to support businesses and organizations in digitally creating and storing contract documents.

An official from KT Corp, Yoon Dong-Sik shared his views on the impact of the paperless system at the time:

“We expect KT Paperless Service to reduce corporate document management and costs so that it will improve the business process as well.”

Related: South Korea Telecoms Giant Ramps Up Blockchain Roaming Deal With China

Last week, we reported that supply chain management platform VeChain launched a similar blockchain initiative to support businesses in tracking and reporting their carbon production data.