Jeju Island Use Blockchain to Limit Wasted Vehicle Batteries

Brian Newar 2020-01-17

Jeju Island government representatives confirmed that a blockchain-based electric vehicle waste-battery distribution management system was selected for multi-year support in the special self-governing zone of South Korea.

The management system for distribution history for vehicle batteries was completed and launched in December of last year with the help of a $1mil grant from LG CNS.

The management system was selected as the best case among 12 projects that were pitched as pilot projects last year. It will be supported by a government grant of about $580,000 and a private support matching program.

The management system tracks the history of the receipt of waste-batteries collected at the Jeju Technopark Electric Vehicle Battery Industrialization Center, which opened last June. The data collected will include information about various inspections, classifications, and releases, and will be recorded via blockchain.

Image result for 제주테크노파크 전기차배터리 산업화센터" — Jeju island’s Jeju Technopark Electric Vehicle Battery Industrialization Center. *courtesy*

The well-received pilot project won support of government officials for its apparent ability to play a leading role in fostering the growth of the electric vehicle industry. The program is expected to enhance the distribution market of energy storage devices (ESS) such as EV batteries and laying the foundation for the standardization of battery performance evaluation aspects.

South Korea and its southern-most island territory, Jeju Island.

Meanwhile, the Ministry of Science and ICT, along with the Korea Internet and Security Agency (KISA), selected three projects in 2018 and 12 in 2019. The Ministry of Science and ICT, furthermore, is planning a massive blockchain R&D project to explore the feasibility of blockchain technology research through 2025 with a government pledge of nearly $410mil. Clearly the peninsula nation of South Korea is fervently exploring their options with blockchain technology.

과학기술정보통신부 세종 파이낸스센터 현판. (과학기술정보통신부 제공) 2019.8.29/뉴스1 — South Korea’s Ministry of Science and ICT pledge $410mil for blockchain technology feasibility research.

In 2020, a total of 10 projects will be selected nation-wide as part of the pilot program, but the fact that the Jeju project was picked up for a second year is a very good sign for its prolonged implementation.

Heesop Roh, the future strategy director of Jeju Island said, “Recent national security improvements can be attributed to the 4th industrial revolution and the achievements that Jeju Island has made even within budgetary constraints.”