State Defense Arm of South Korea Planning to Build Blockchain Platform for Military Acquisition

Coming as a positive development for the blockchain ecosystem, South Korea’s Defense Acquisition Program Administration is mulling over improving the trustworthiness of data in the arms industry by using blockchain. The aforementioned development was announced by the agency in a press release on April 10.

Notably, the state arms procurement agency mentions that it is on the lookout for using a blockchain platform to facilitate the secure sharing of data about military acquisition projects between relevant governmental organizations and to get rid of data sham.

As per the press release, the new initiative will engage such organizations as the Defense Agency for Technology and Quality and the Agency for Defense Development.

The press release notes that apart from ameliorating the trustworthiness of defense projects with blockchain, Defense Acquisition Program Administration also intends to unify its documentation as well as trim down the paperwork associated with applying for state procurement projects.

Moreover, DAPA launched a pilot, in January 2019, for the development of blockchain applications in the defense industry, with South Korea’s government purportedly planning to invest up to $530,000 into each project. Interestingly, the aforementioned proposal is being carried out with the support of the Korea Internet & Security Agency, a sub-organization of the South Korean Ministry of Science and ICT.

It is to be noted that the United States Department of Defense suggested, in late 2018, that blockchain technology could smoothen the progress of the process of emergency response.

Beforehand, Dublin-based consultancy firm Accenture collaborated with Thales Group, which is a French multinational aerospace firm, in order to update aircraft supply chains using blockchain.

Related Posts

Leave a Reply

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.


In, ,
Reports: China Mulling Over Banning Bitcoin Mining
April 10, 20190
blockchainIn, , ,
Bitcoin Approaching Bottom, Institutional Money may “Explode Crypto”, as per Dollar Vigilante
January 14, 20190


In, , , ,
Japanese Digital Asset Exchange to Recommence Activity, Got Hacked Seven Months Ago
April 23, 20190
In, , ,
Japanese FSA Might Introduce New Rules Regarding Cold Wallets, as per Reuters
April 18, 20190

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin5,540.77 0.18 % 4.86 % 9.20 %
Ethereum175.25 0.44 % 2.95 % 7.54 %
XRP0.327 0.04 % 0.09 % 1.55 %
Litecoin78.90 0.58 % 3.53 % 0.15 %
Bitcoin Cash304.43 0.34 % 5.31 % 3.73 %