Seoul City Gov’t Appoints Members to Blockchain Governance Team

Published at: Feb. 8, 2019

The Seoul Metropolitan Government, South Korea, has issued letters of appointment to its Blockchain Governance Team set to integrate blockchain technology with the city’s administration services. The news was announced by blockchain networks firm ICON on Feb. 8.

The Seoul Blockchain Governance Team was formed by the Metropolitan Government, with the aim of investigating the benefits of blockchain in the city’s administration across several areas, including digital document verification and sub-contract payment.

The team reportedly consists of 100 participants between the ages of 21 and 77, including university students, corporate employees, developers, and others. Within the initiative, the team members will test the pilot version of blockchain-based administration services, and are expected to provide comments and recommendations between January 2019 and December 2020.

To issue mobile letters of appointment, the Seoul Metropolitan Government reportedly chose the public blockchain of ICON that will purportedly ensure against falsification and fake issuance. J.H. Kim, council member of the ICON Foundation and CEO of ICONLOOP, said that the company “expect[s] the increase in public blockchain use-cases led by government, and this appointment letter issuance is a starting point to show a clear example of how blockchain can be used in government.”

In January, South Korea’s Yeongdeungpo-gu — an administrative district in southwest Seoul — announced it aims to strengthen administrative transparency by applying a blockchain-based evaluation system. The district reportedly plans to expand the system to the whole department, as well as other municipalities.

Also that month, South Korea’s Defense Acquisition Program Administration (DAPA) launched a pilot for developing blockchain applications for the defense industry, wherein the government ministry is planning to provide grants of up to 600 million South Korean won (about $530,000) for each project.

Tags
Related Posts
South Korea's Fintech Sandbox Creates 380 New Blockchain Jobs
South Korea’s regulatory sandbox has helped create almost 380 blockchain and other fintech jobs and generated around $110 million in investments. According to Shina Ilbo, the sandbox is overseen by the government's financial regulator, the Financial Services Commission, or FSC. It temporarily exempts companies from various regulations regarding financial services to aid with innovation and growth. The report said that 16 companies have been recognized for their growth potential, and attracted more than 136.4 billion won ($110 million) in new investments. Some of the companies participating in the government-sponsored program are pursuing business across 14 countries in Asia, including Indonesia, …
Adoption / May 15, 2020
South Korean Government to Grant $3.2 Million to Blockchain Companies
Two South Korean ministries have announced their support for the blockchain industry in the country with plans to allocate up to $3.2 million in funding to local startups to encourage the use of such technology. The Ministry of Science and ICT (Information and Communications Technology) and the Ministry of Information and Communication Industry Promotion will launch a pilot program called "Blockchain Technology Validation Support in 2020" to carry out the project, according to a March 16 report. The plan is to select nine projects through free public offerings and grant each one up to 450 million won ($360,000) in funding. …
Adoption / March 17, 2020
Seoul to Release Native City-Wide Crypto as Part of Smart City Development
In a bid to transform into a blockchain smart city, Seoul, South Korea is planning to launch its own digital currency by November 2019. To facilitate engagement in the city’s governance As Australian finance-focused media outlet Finder reported on Aug. 7, the South Korean capital is looking to release a native city-wide digital currency dubbed S-coin, the objective of which will be to encourage citizens to participate in governance, facilitate cooperation between citizens and collect information. People will receive S-coins when using public services or fulfill their citizenship obligations such as paying taxes and participating in public surveys. S-coin is …
Adoption / Aug. 7, 2019
South Korea State Defense Arm DAPA to Build Blockchain Platform for Military Acquisition
South Korea's Defense Acquisition Program Administration (DAPA) plans to improve the reliability of data in the arms industry by using blockchain, the agency announced in a press release on April 10. The state arms procurement agency says it is seeking to use a blockchain platform to enable the secure sharing of data about military acquisition projects between relevant governmental organizations and to eliminate data forgery. According to the press release, the new initiative will involve such organizations as the Agency for Defense Development and the Defense Agency for Technology and Quality. Apart from improving the credibility of defense projects with …
Adoption / April 10, 2019
Seoul City Gov’t Launches ‘Blockchain Governance Team’ for State Services
The Seoul Metropolitan Government has launched the Seoul Blockchain Governance Team to explore the benefits of blockchain in administrative services, Yonhap News reports Jan. 31. According to the report, the members of the team are researching the potential of blockchain applications in various government services, including online voting system. Specifically, the working group intends to address systems of integrated management, digital document verification and automatic sub-contract payment. The team consists of 100 employees between the ages of 21 and 77, including developers, association executives, project makers, corporate representatives as well as students, Yonhap reports. Earlier today, Cointelegraph reported that South …
Adoption / Jan. 31, 2019