KT Corp, a large South Korean telecommunications corporation, has announced a blockchain digital document initiative plan using electronic documentation service in order to contribute to environmental goals.
Around 90 percent of the country’s fixed-line mobile networks, as well as 45 percent of broadband high-speed internet services, are provided by telecommunications company.
The e-document project, dubbed “E-document Digital Transformation (DX) One Team,” will be a collaborative effort between 14 organizations with the goal of lowering the network’s carbon emissions.
When fully deployed, the program will digitize the whole paper-based documentation process, from generation through storage and dissemination to customers.
The numerical objective is to transform 4.5 billion paper documents into electronic documents per year, resulting in a reduction of 129.6 billion tons of carbon emissions.
In March 2020, the company introduced Paperless, a blockchain-based platform that helps businesses and organizations create and save contract papers digitally.
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.”
Cointelegraph reported last week that supply chain management platform VeChain had developed a similar blockchain initiative to let firms track and report their carbon emissions data.