The Conversation (0)
Graph Blockchain Signs MOU with Korean Trade Organization
Aug. 22, 2018 01:55PM PST
Blockchain Investing
Datametrex AI (TSXV:DM) joint venture Graph Blockchain has signed a memorandum of understanding with Korean Trade Organization to develop a blockchain-based electronic services platform. As quoted in the press release: KTNET was established in 1989 by the Korean government and funded by the Korean International Trade Association (KITA). KTNET provides automation services for all the …
Datametrex AI (TSXV:DM) joint venture Graph Blockchain has signed a memorandum of understanding with Korean Trade Organization to develop a blockchain-based electronic services platform.
As quoted in the press release:
KTNET was established in 1989 by the Korean government and funded by the Korean International Trade Association (KITA). KTNET provides automation services for all the complex processes of export & import businesses through the establishment of paperless trade infrastructure, achieving economic effects that reach US $5.57 billion annually. Through a trade system linking approximately 97,000 customers and trade-related organizations, including trading companies, banks, customs brokers, shipping companies, insurance firms, forwarders, and bonded storages, KTNET has digitized 614 types of export & import documents in the G2B and B2B sectors, and processes an annual average of 370 million cases of paperless documents.
“This is a tremendous opportunity for Graph to partner with a government agency to develop the blockchain component for the automation of electronic trade in Korea. We look forward to finalizing the definitive agreement with KTNET as this will create a new international trading platform that Graph can build on,” says Andrew Ryu, Chairman & CEO of the Company.
GBLC:CNX