The occasionally murky multi-billion dollar world of defense acquisitions may be getting a little more honest.
South Korea’s Defense Acquisition Program Administration, or DAPA, announced last week (link in Korean) that it is launching a blockchain project to boost the credibility of the defense acquisition process.
The project would record the entire acquisition process on the blockchain, from the initial tender to the evaluation and final selection, making it impossible to forge or alter. DAPA hopes this will make the process more transparent.
The project should offer other benefits as well.
It would create an automated electronic system for receiving proposals, reducing the paperwork and other hassles for bidding firms. It would also ease getting permits to transport weapons, ammunition and explosives. Currently, defense firms need to apply to two different agencies to transport munitions. DAPA’s project would unify the process behind a single system operated by a single agency.
It would also record on the blockchain the process for applying and receiving certain types of defense-related financial support.
DAPA is working with the Agency for Defense Development, the Defense Agency for Technology and Quality and the Korea Defense Industry Association on the project.
At CoinDesk, Yogita Khatri notes that this initiative is only one of several public blockchain trials launched by the Korean government over the last year.
DAPA isn’t the only Korean defense agency exploring blockchain. Also this month, the Military Manpower Administration announced (link in Korean) it is building a blockchain-based platform that will make getting certificates of military service much less of a headache. Last October, the Defense Ministry revealed (link in Korean) it would adopt blockchain to improve the management and security of military secrets, a plan that disquieted at least some blockchain experts.
Also in the Korea blockchain space…
- Indian IT Giant Tech Mahindra to Use Samsung’s Nexledger Blockchain: Local Media
(By Ana Berman, Cointelegraph)
- South Korea: Bithumb Exchange Operator Gains $200 Million From Japanese Investment Fund
(By William Suberg, Cointelegraph)
- Lawmakers call for blockchain regulations to be eased
(By Yeo Jun-suk, Korea Herald)
- Busan Picked as Preferred Bidder for Blockchain Regulation-free Zone Project
(By Jung Suk-yee, BusinessKorea)
- East Asia is cryptocurrency frontline as regulation develops in China, Japan, Korea and Taiwan
(By Christopher Williams, DAppLife)
- Law enforcement in South Korea arrest crypto scammers with AI help
(By Neil Mathew, Coingeek)