Canadian Blockchain Company Signs Contract with Seoul Ministry of Transportation

Canadian tech firm Graph Blockchain Inc. has partnered with the Ministry of Transportation in Seoul, South Korea, to run a pilot program for blockchain-based traffic data storage, according to a news release on June 24.

Graph Blockchain reportedly signed a contract for around $55,000 CAD, or approximately $41,695 at press time, to run this pilot program as part of the “Smart City initiative.” 

According to the CEO of Graph Blockchain, Jeff Stevens, the company intends to use its blockchain solution to “streamline and protect” traffic data. Graph Blockchain purportedly uses the open source Hyperledger Fabric framework to develop its blockchain solutions. 

Near the end of 2018, Seoul’s mayor, Park Won-soon,