South Korean government plans to bring blockchain voting into people’s homes – a report by Saumil Kohli.

The South Korean government pledged $1.27 million in funding for a blockchain-based platform that targets apartment residents across the country.

According to the ZDNet report, the South Korean Ministry of Science, or ICT, chose a local firm, Ksign, to develop a contact-free platform that will let residents engage with electronic voting, parking space management other housing-based governance measures. The platform will also help with maintaining social distancing, said the announcement. The project’s creators further noted that they expect it will “strengthen public health in the apartment spaces. The platform will also provide video conferencing and electronic payment solutions to homeowners and residents. 

 

“The goal is to create a token ecosystem that can be used in any store.”

Keo Ja-in, the vice president of Ksign, commented on the upcoming platform, saying that they 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 also to create a token ecosystem that can be used in any store. The head of the Seocho regional government recently proposed a blockchain-powered voting platform for residents and praised the recent influx of crypto-related developments. 

 

South Korea adopts blockchain tech in different sectors. 

As reported earlier, one of South Korea’s major cities, Seongnam, is expanding its payments program by issuing digital gift certificates on the blockchain. Seongnam’s new offering will be available through a mobile app, with the city seeking to reach the elderly with simplified payment processes. The South Korean city had partnered with the Korea Minting and Security Printing Corporation (KOMSCO) on the project. The new payment system will be acceptable by 45,000 merchants in the city, according to the local newspaper Kyunghyang Shinmun report

Regulators worldwide have acknowledged the potential of blockchain technology in the past few years. Later last year, the president of China, Xi Jinping had urged the country to take the lead in the blockchain sector. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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