The Korea Customs Service named Samsung SDS to build a blockchain-based customers clearance platform, titled Nexledger TM.

A signing ceremony was held on Sept. 14 in Seoul with the participation of 48 trading, shipping, and insurance companies.

All participants will use Nexledger TM in customers clearance. This service would prevent forgery of export and import documents and quicken customs clearance as they share the same information on a real-time basis. From export declaration to delivery, the blockchain ledger-based network will help all trade-related agencies.

A Samsung vice president said its platform would upgrade the competitiveness of national logistics system. The Samsung SDS added its Nexledger platform applies to the real-time processing of massive trading, smart contract and operation monitoring in finance, manufacturing, logistics, and public service.