ICONLOOP Takes Part in Building Modang, Jeju's Shared Logistics Platform
- Realizing a hub city for digital shared logistics where people and nature coexist
November 24, 2021, Seoul — ICONLOOP (CEO JH Kim), a leading Korean blockchain company, announced that it is taking part in building Modang, Jeju's shared logistics platform, which has begun pilot service testing.
The Modang project has been under way since the Jeju Special Self-Governing Province was selected for the Ministry of Land, Infrastructure and Transport's 2021 digital logistics service demonstration program in May. ICONLOOP and ArtPQ (CEO Taeheon Oh) were selected as contractors and have been building the platform.
Modang is an open platform providing joint delivery for goods that cannot be shipped to island regions, joint delivery for Jeju-produced goods (agricultural produce, manufactured items), and shared space matching — all aimed at overcoming the geographic constraints of an island and realizing a hub city for digital shared logistics where people and nature coexist. The platform is intended to relieve the inconvenience residents face when island regions cannot be served, to provide and expand joint logistics services for Jeju businesses, and to spread the sharing economy paradigm of splitting the use of needed space.
ICONLOOP took part in building Modang's blockchain-based logistics history management system and its payment component. Applying loopchain, its in-house high-performance blockchain engine, it enabled safe and transparent logistics history management by automating data from document work previously done by hand and encrypting identification information for goods and products.
ArtPQ, which has built the platform alongside ICONLOOP, is a leading Jeju company that has accumulated technology and wide-ranging experience over 20 years, focusing on application software development, database construction, and web technology development while also developing content and cultural products based on Jeju cultural content.
Pilot testing for Modang runs from November 24 to December 20 for the Jeju-produced goods joint delivery service and the shared space matching service, and from December 1 to December 20 for the joint delivery service for goods that cannot be shipped to island regions. Participation in testing the Jeju-produced goods joint delivery service is open to companies using Jeju joint logistics, while the shared space matching and island region delivery services will be open to the general public on a first-come, first-served basis. Members of the public can apply by checking the notice posted in the news section of the Jeju provincial website (recruiting the Modang pilot testing group).
Working closely with the province and ArtPQ, ICONLOOP will apply findings from the pilot testing period to platform development, conduct trial operation with logistics companies and users in the first half of next year, and launch the full service in the second half of 2022.
"I am glad that this project lets us bring our blockchain technology to Jeju's first digital shared logistics platform," said ICONLOOP CEO JH Kim. "ICONLOOP will continue creating cases where the value of blockchain is applied to everyday life across an ever wider range of fields."
ICONLOOP had previously co-developed Jeju Safe Code, the island's tourism quarantine system, through a public-private cooperation agreement with the province. Well received by users and businesses across Jeju, Jeju Safe Code was selected as a best practice in the province's 2021 civil service improvement awards and is becoming a model for sustainable tourism and quarantine.
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