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KT Corp, a South Korean telecommunications conglomerate, has stated its intention to start a blockchain digital document programme to combat carbon emissions.
KT Corp, a major South Korean telecommunications corporation, has announced plans to develop a fully electronic documentation service that will use blockchain technology to contribute to environmentally sensitive goals.
The telecommunications company presently offers around 90% of the country’s fixed-line mobile networks, as well as an additional 45 percent of broadband high-speed internet services.
The e-document venture titled “E-document Digital Transformation (DX) One Team” will be a collaborative effort among 14 businesses, with the established objective of reducing the network’s carbon emission output.
When fully deployed, the programme will digitise the whole paper-based documentation process, from creation to storage and eventually to client distribution.
The numerical objective is to convert 4.5 billion paper documents into e-documents per year, resulting in a reduction of 129.6 billion tonnes of carbon emissions.
In March 2020, the company introduced Paperless, a blockchain-based platform that assists businesses and organisations in digitally producing and preserving contract papers.
Yoon Dong-Sik, a KT Corp official at the time, gave his thoughts on the implications of the paperless system:
“We expect KT Paperless Service to reduce corporate document management and costs so that it will improve the business process as well.”
Last week, it was reported that supply chain management platform VeChain launched a similar blockchain initiative to support businesses in tracking and reporting their carbon production data.