Korea’s Ministry of Land, Infrastructure and Transport will implement a pilot program for blockchain-based traffic data storage in partnership with a Canadian blockchain-focused company.

Graph Blockchain headquartered in Toronto said in a news release Monday, “We will run this program with Korea’s ministry of transport as part of the ‘Smart City’ initiative. We will offer our solution to streamline and protect traffic data.”

Graph Blockchain, a Canadian tech firm offering data management and analysis, uses the Hyperledger Fabric framework to develop its blockchain solutions.

Graph Blockchain CEO Jeffrey Stevens said his company signed a contract for 55,000 Canadian dollars with Korea’s ministry of transport, noting that “it will serve as an interesting opportunity to introduce our blockchain solutions.”

In the Korea Future Forum (KFF) “2019&Blockchain Tech Show” in May, Seoul Mayor Park Won-soon pledged to make “Seoul the world’s best Smart City.” “Based on our information and communications technology, we will offer unprecedented new services by collecting data on city and administration systems and integrating them with innovative technologies like artificial engineering and blockchain,” Park added. /cho@decenter.kr

Cho Jae-seok