South Korean Telecom Giant KT Corp Will Use Blockchain To Fight Against Carbon Emissions

2021-09-02 16:39:42

KT Corp, the leading telecommunication company in South Korea, reveals plans to use blockchain (documentation) technology in order to fight carbon emissions. The main goal: to contribute in fighting global warming. For that matter, KT Corp intends to create a digital document project that will revolve around blockchain. Eventually cutting down greatly on carbon emissions.

Specifically, KT Corp wants to use the ‘green’ blockchain technology in order to cut down on carbon emissions. Which is definitely quite a smart move. Even more so if we take into account how much power KT Corp requires to operate on a daily basis.

For example, they provide coverage for 90% of the country’s mobile networks. Additionally, they also cover 45% of South Korea’s high-speed internet. Thus, creating a fully digital blockchain documentation seems like the logical next step.

The e-documentation will eventually serve for any future document storage purposes. KT Corp wants the ‘E-document Digital Transformation (DX) One Team’ to turn 4.5 billion paper documents into digital, e-documents every year.

 

 

Which according to the company calculations, will contribute towards reducing carbon emissions by a whopping 129.6 billion tons.

Yoon Dong-Sik, comapny official from KT Corp, believes that this is will greatly help in every aspect:

We expect KT Paperless Service to reduce corporate document management and costs so that it will improve the business process as well.Yoon Dong-Sik | KT Corp Official Representative

This electronic documentation project enjoys quite the support among South Korean businesses. In fact, the entire initiative is a joint venture of fourteen companies. All with the same objective, to greatly reduce carbon emissions and help save the environment.

However, the news about telecom giant KT Corp using blockchain documentation to fight carbon is actually not the first such venture. Just last week, VeChain enrolled a very similar blockchain project. In their initiative, VeChain encourages companies to diligently track and report how much carbon they produce.

We can only salute these types of decisions. Especially with the current, worrying state of our planet. And we can only hope that more and more corporations will wake up before its to late.  Since we all need to start taking serious actions to contribute in the fight against global warming.

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