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Monday, November 30, 2020

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  • The government has pledged to offer Ksign £0.98 million to develop a contact-free platform.
  • The platform will support video conferencing and electronic payment.
  • Before this project, the head of the Seocho region had proposed a blockchain-based voting system.

The South Korean government intends to introduce blockchain technology into the country’s sector. A report unveiled this news on September 17, noting that the government has pledged £0.98 million toward funding this initiative. Reportedly, the country’s Ministry of Science chose a local firm dubbed Ksign to develop a contact-free platform that will let South Koreans engage in electronic voting. Apart from this, the platform would allow the citizens to manage parking spaces, among other housing-based governance measures.

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According to the report, the platform will also introduce social distancing. The project’s developers further cited that they expect it to improve public health in the apartment spaces. The platform will reportedly cut across homeowners, residents, and management teams. To help ensure social distancing, the platform will allegedly feature video conferencing and electronic payment solutions.

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Commenting on the upcoming platform, Keo Ja-in, Ksign’s vice president said,

“We are developing a DID that can be applied to the token ecosystem by controlling personal information and verifying the identity by controlling personal information. The goal is to also create a token ecosystem that can be used in any store.”

South Korea’s push for blockchain-powered voting

This news comes after Cho Eun-hee, the local government leader of the Seocho region, suggested that the national government should initiate the creation of a blockchain-powered system for its citizens. According to him, it is high time that South Korea starts using blockchain. He went on to urge South Koreans to put forward their suggestions regarding blockchain development in the country.

Cho Eun-hee went on to state that decentralized technology is the fourth industrial revolution. As such, he urged the country to strive to play a role in the swiftly changing modern society, especially with the prevalence of the COVID-19 pandemic.

Per Cho,

“In the future, we plan to realize a direct democracy that everyone can trust by actively introducing blockchain to prevent security and forgery, and to this end, various businesses such as a blockchain academy that combines blockchain and administration, and smart senior business will be implemented.”

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