The Crypto Times
Image default
Government International News

South Korea’s DAPA Plans to Build A Blockchain Pilot Project

The Defense Acquisition Program Administration (DAPA) of South Korea announced April 10 on their press release that the agency is launching a blockchain pilot project. They are aiming to make improvements on the reliability of data in the defense sector through blockchain technology.

Defense Data on the Blockchain

The South Korean agency said it’s planning to build a blockchain platform that would secure sharing of defense business data about military acquisition projects between governmental organizations. It is also an effort to eliminate any acts of data forgery.

As stated on their press release, this new initiative will include efforts from DAPA and two organizations – the Defense Agency for Technology and Quality and the Agency for Defense Development. These three agencies will work together toward improving the defense procurement operations’ credibility.

Aside from enhancing the credibility and record of defense projects with blockchain, the DAPA is also seeking to reduce the paperwork involved with state procurement projects applications and unify the documentation process and the press release notes.

Backed by the South Korean Government

Earlier this year, DAPA introduced a pilot for developing blockchain applications in the defense sector, with an investment of up to $530,000 per project from the South Korean government. This initiative is supported by the Korea Internet & Security Agency, a sub-organization of the South Korean Ministry of Science and ICT.

US Looking into Blockchain

Last year, the United States Department of Defense introduced the idea of blockchain technology being used in facilitating the process of emergency responses.

Moreover, Dublin-based global management consulting and professional services company Accenture sealed a partnership with French multinational aerospace company Thales Group to develop updates on aircraft supply chains using blockchain.

Related posts

Crypto Platform Binance Set to Launch US Branch in a Few Weeks

Viena Abdon

US Financial Services Firm Confident Blockchain Tech is Standardized by 2021

Viena Abdon

Riot Blockchain Shares Soars and Cryptocurrencies Outlook Improves

Viena Abdon

McAfee Report Shows Alarming Rise in Ransomware and Cryptojacking Attacks

Viena Abdon

Study Hints at Bitcoin Adoption Steadily Growing in New Markets

Viena Abdon Takes Cryptocurrency for Travel to 82,000 Destinations

Viena Abdon