Blockchain tapped to tackle carbon emission in South Korea

Blockchain tapped to tackle carbon emission in South Korea

The pulp and paper industry contributes immensely to the emission of Green House Gases (GHG) such as carbon dioxide. To tackle this environmental issue, South Korea’s telecommunications company KT Corp is set to launch a blockchain-based e-Document Platform.

KT Corp, which currently provides about 90% of the nation’s fixed-line mobile networks and 45% of broadband high-speed internet services, launched a blockchain-based document platform called “Paperless” in 2020. “Paperless” was aimed at enterprises that render services such as drawing up a contract, registration of the document, and electronic storage.

Now, KT Corp is collaborating with 14 other companies to develop the E-document Digital Transformation (DX) One Team, their major goal is to reduce carbon emissions. The company intends to establish a blockchain-based e-document platform by building on the abilities of its existing digital platforms. The platform will handle the lifecycle of the documents such as creation, storage, distribution, and application.

The platform will also enable customization for the participants in the project with support for a variety of e-document services.

The E-document DX One Team has a primary goal to convert 4.5 billion paper documents into e-documents every year. If the goal is achieved, it will effectively reduce carbon emissions by 129.6 billion tons every year.

Other carbon-blockchain initiatives

A Chinese company recently launched a new blockchain initiative designed to help businesses openly track and report their carbon emissions data.

The blockchain-based Digital Carbon Footprint SaaS Service provides a comprehensive and scalable platform for any enterprise to better calculate, track and report their carbon reduction initiatives across the entire value chain.

The Digital Carbon Footprint SaaS Service is aimed at allowing enterprise users to log key data and integrate it with world-leading third-party assurance providers within their partnership network. This data can then be transformed into new types of value and lasting performance improvements throughout the organization.

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