Seoul set to implement blockchain-based administrative services

Seoul, the hub of blockchain and cryptocurrencies in South Korea, recently concluded a blockchain workshop that was aimed at reviving the …

Seoul, the hub of blockchain and cryptocurrencies in South Korea, recently concluded a blockchain workshop that was aimed at reviving the ‘Blockchain City Seoul Promotion Plan’ initiative. The conference was held at Incheon International Airport Human Resource Development Institute.

The first initiative, which was announced in October 2018, had since lost momentum given that no active steps were taken to implement it. The initiative was set to develop 14 blockchain-based administrative services in Seoul by 2022. A total of 127.3 billion won ($105 million) was forthwith committed for the implementation of the Plan over a 5 year period.

While talking to reporters, an officer at the Seoul City Smart City stated:

We held the first workshop to talk about the contents and requirements to cooperate with each other regarding the establishment of the blockchain administrative service. In addition to the additional workshops, we will continue to discuss and talk in November. We will be able to build the service as it is.

Given that little had happened in terms of the actual progress of the plan since its launch in October, the July 1 meeting is thus far a tangible sign that something material is in the offering.

In the workshop, the specifics of the rollout were discussed, deadlines of the implementation phases set, and goals of the plan established. Accordingly, the blockchain services are to be controlled by the city but will be operated by private enterprises.

Another outcome of the workshop was to have the plan implemented in two phases. The first phase consists of services to be completely rolled out by November this year, and the second phase is those services to be implemented past the November deadline.

The services to be rolled out by November include blockchain-based part-time workers rights program. This program will enable temporary employees to sign simple contracts with their employers. This will allow the company and the city to keep track of the employees work history, and maintain timesheet. It will also register the part-time workers for the country’s four major social insurance programs.

The city will also offer a reward system service through this program. Notably, residents of Seoul will receive S coins for engaging in public services. After receiving these coins residents will redeem them for rewards. For a start, the city will use tax payments and participation in public opinion polls to generate the coins.

Thirdly, the city using the blockchain-based program will offer digital authentication of Seoul’s citizen cards. Lastly, Seoul will offer a blockchain-based service for submitting citizen’s qualifications without paper documents. This is in a bid to limit on forgery of paper documents in the region.

According the report, other programs not within the November deadline include; smart healthcare, donation management, and online certificate verification systems.

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Brexit: How Blockchain Will Impact Government

Blockchain technology, in the past few years, has been appearing in … The publicly distributed ledger is only made available to those who are in the …

Blockchain technology, in the past few years, has been appearing in diverse industries and sectors. As the case may be, implementing the various use cases of blockchain technology could be one of the major solutions to the current situation facing Britain.

Does Blockchain’s Infancy Matter?

Unlike other well-known business solution that has been around for a long time, blockchain technology is a revolutionary and innovative technology which is just over a decade in existence. The extensive development of the blockchain has made its growth and development unprecedented.

For solving various challenges like supply chain management and border control, blockchain technology already proved its usefulness. Among other things, this relatively new technology will be useful in addressing some of the most challenging issues and stabilizing trading activities to a seamless level.

Is Blockchain a solution to the border issue?

When goods get across a custom borderline, the goods and its content have to be declared according to standard processes. Some of these goods have requirements for an accurate declaration.

For this objective, there are three main aims:

  • Ensuring these import or export doesn’t pass the set quota
  • Ascertaining that the quality is of standard quality
  • Curtailing contraband or less standard products

However, importers could submit their electronic declaration even before the shipment arrives at the border. This will help custom officers classify to either casually or closely inspect. This will reduce the number of delays usually experienced at the border.

Utilizing the blockchain technology here will establish an enormous and accurate data trail for the goods coming in through these borders. This means the goods are properly labeled and digitized. Blockchain technology can handle and deliver the complete history of these goods.

Could Blockchain’s Transparency be an issue to supply chains?

Transparency and openness of blockchain technology are one of the huge reasons why there are numerous use cases for this technology. The publicly distributed ledger is only made available to those who are in the network. This still provides data security, and has an optimization level to keep data safe.

Blockchain technology promoted transparency and openness, even in the supply chain. But understanding the full extent of data security, it also provides adequate data security.

Blockchain solution with Cryptocurrency

One of the most used features of the blockchain technology so far has been the creation and use of the different cryptocurrencies. These are currently very useful for the exchange and transaction of value and buying and selling of goods and services.

In addition, the British pound could need some support for the period immediately after. For the transactions and transformation of the financial market, the cryptocurrencies are on the verge of being very instrumental.

Future Developments

Blockchain technology could be one of the best platforms through which global transactions and interactions can be carried out. Furthermore, with numerous use cases and famous applications, blockchain technology is the future.

Tags: Blockchain TechnologyBrexitBritainUnited KingdomJoao Francisco
João is, before anything else, an enthusiastic advocate for the decentralised world as he foresees a better future for human beings through blockchain and cryptocurrencies. Copywriter and content creator are among his professional titles, but his passion for this technology is what defines him better.

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