Chungcheong Buk-do plans to screen out fake products using blockchain technology.

On August 13th, Chungcheongbuk-do announced that it is participating in an agreement to build a platform that link global shopping mall with a system that prevents distribution of fake export products in the province using blockchain technology and big data.

The project was finally selected under the title of ‘Blockchain-based distribution history management platform construction project’ in the ‘2020 Industrial Innovation Foundation Construction Competition’. The agreement was signed between Korea Institute of Advancement of Technology (KIAT) and Inha University. Chungbuk Institute of Science and Technology Innovation, Korea Trade Information and Communication, and Markany participated in Inha University consortium, which was led by Inha University.

‘Blockchain-based distribution history management platform’ prevents forgery and alteration of data, and records the distribution process from product shipment to the point of purchase to the consumer on the blockchain, allowing consumers to easily access products through mobile QR code recognition. You can check history information and distribution process. It plans to support customized product development by analyzing and providing sales data by product and country and consumer tendency as big data to sellers.

For the project, a total of 11.7 billion won (national expenditure 8 billion, dobi 600 million, private 3.1 billion) will be invested in the next three years. It plans to gradually expand other participating companies.

Kim Yeong Bae, Chungcheong Buk-do Administration Director, said,“Through the product identification and distribution history information authentication system using core technologies of the 4th industry, it will improve the external reliability and brand value of exported products, and will lay the foundation for overseas expansion of small and medium-sized companies in the province.”

번역: 김동우 기자