The South Korean government plans to invest over $48.2 billion in Blockchain and other Industry 4.0 technologies by 2025. The nation’s goal is to promote the digitization of all industries in the coming post-pandemic era. According to ZDNet Korea, President Moon Jae-in praised “several benefits” that the new industrial revolution could bring to the country. Moon elaborated: “The fourth industrial revolution and digital civilization are the future of humanity that has already begun. The national development strategy to advance in the trend is the Korean version of the new deal. It is possible to jump from the older economy to …
The Commons Foundation, a South Korean non-governmental organization, revealed its plans to develop a blockchain-based platform that aims to handle health epidemics in the wake of the COVID-19 crisis. According to Digital Today, the NGO will rely on blockchain public services to create an epidemiological research system to suit the coming post-coronavirus era. The article quotes a statement from Choi Yong-gwan, chairman of the Commons Foundation, who expressed concerns regarding the ongoing violation of personal information due to the pandemic emergency. Such a situation motivated the NGO to develop a solution. Guaranteeing privacy through the platform Choi says that the …
A major satellite city in South Korea, Seongnam, is preparing to expand its existing blockchain-powered payment program by issuing new digital gift certificates. According to Kyunghyang Shinmun, the city’s Blockchain infrastructure will rely on a mobile app named Chak app. This app will be built by the Korea Minting and Security Printing Corporation, or KOMSCO. Seongnam’s project hopes to make it easier for elderly and middle-aged residents to utilize the city’s existing Blockchain technology. They also hope to strengthen the use of contactless payments during the COVID-19 pandemic. Local media outlets said that three digital gift certificate types – representing …
KEB Hana Bank, one of the biggest commercial banks in South Korea, reached an agreement with the state-backed highway operator, the Korea Expressway Corporation, to bring blockchain-based toll payments system across the nation’s highways. According to D Daily, the project is expected to launch before the end of the year. The system will connect KEB Hana’s smartphone banking app, Hana One Q, for motorists to arrange their toll payments, defer them, or even receive toll fee refunds. The report states that both parties involved in the deal reached to implement the blockchain solution aim to remove the cash-based or credit …
In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set. According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the country in terms of population. The group’s main goal is to strengthen the medical tourism sector. The consortium includes Pusan National University Hospital, Dong-A University Hospital, Gosin University Gospel Hospital, Samyuk Busan Hospital, and payment brokerage company Knet Co. Ltd. Banking services offered through the platform The agreement states …