South Korea’s leading telecommunications company uses blockchain to achieve carbon emissions targets

KT Corp, a major telecommunications company in South Korea, has outlined a plan to create a fully electronic document service, using blockchain technology to contribute to achieving environmental goals.

This telecommunications company currently provides approximately 90% of the country’s fixed-line mobile networks and 45% of broadband high-speed Internet services.

Electronic document business Titled “Electronic Document Digital Transformation (DX) One Team” will be a joint effort of 14 companies, and its stated goal is to reduce network carbon emissions.

Once implemented, the plan will digitize the entire paper document process, from creation to storage to end customer distribution.

The digital goal is to convert 4.5 billion paper documents into electronic files every year, and significantly reduce carbon emissions by 129.6 billion tons.

In March 2020, the company launched a blockchain-based platform called Paperless to support businesses and organizations to digitally create and store contract documents.

Yoon Dong-Sik, an official of KT Corp, shared his views on the impact of the paperless system at the time:

“We hope that KT Paperless Service can reduce corporate document management and costs, thereby improving business processes.”

related: South Korean telecom giant strengthens blockchain roaming transactions with China

Last week, Cointelegraph Report That supply chain management platform VeChain A similar blockchain program was launched to support companies in tracking and reporting their carbon production data.