The federal government of Seoul is utilizing ICON, the biggest blockchain mission in South Korea by valuation, to course of info, situation paperwork, and conduct a variety of administrative duties.
On February 8, the Seoul Metropolitan Authorities moved ahead with its plans to develop a blockchain ecosystem with the individuals of Seoul by creating the Seoul Blockchain Governance Crew.
The Seoul Blockchain Governance Crew consists of 40 school college students, 30 regular residents, 20 blockchain builders, and 10 business specialists. The group will develop, check, and deploy distributed ledger-based programs within the upcoming months for the federal government.
Finally, the Seoul Metropolitan Authorities expects to combine blockchain functions created from the city-wide initiative into the core working IT system of the federal government that’s used to hold out key administrative actions.
Actual-World Use Case of Blockchain in South Korea
To formalize the institution of the Seoul Blockchain Governance group, the federal government despatched letters of appointment to all 100 members of the group.
The letters have been processed on the ICON community by way of a cell software. As a result of they have been processed on a public community, the letters of appointment are publicly accessible with distributed ledger explorers.
The utilization of ICON to distribute authorities paperwork is the primary case wherein the federal government of South Korea utilized a distributed ledger community to course of info.
J.H. Kim, a council member of the ICON Basis and CEO of ICONLOOP, mentioned in an unique interview with CCN that the initiative might be a stepping stone in direction of broader adoption of blockchain and decentralized programs by the federal government of South Korea.
We see this mission as step one within the adoption of ‘public blockchain’ extending from the present non-public blockchain utilization by public companies in South Korea. ICONLOOP will work carefully with town’s administrative providers to appreciate the longer term the place disruptive blockchain expertise to underpin many points of our every day lives.”
Chatting with CCN, Kim emphasised the use case of personal distributed ledger initiatives in linking environment friendly programs to a public community.
“We’re thrilled to have a terrific alternative to steer public blockchain use-cases on prime of the ICON Community led by the federal government; this grew to become solely potential based mostly on our non-public blockchain initiatives in cooperation with the Seoul Metropolitan Authorities to offer clear and environment friendly blockchain-based administration providers,” Kim mentioned.
Within the long-term, each the ICON group and the federal government of Seoul anticipate to make the most of the distributed ledger expertise to course of essential administration providers corresponding to citizenship card providers, authentication of paperwork, sub-contract funds, and mileage factors integration.
Seoul’s Proactive Initiatives
In October 2018, Seoul Mayor Park Gained-Quickly first revealed the bold plans of his workplace to remodel Seoul right into a blockchain metropolis.
In Zurich, Switzerland, Mayor Park acknowledged that town will set up an ecosystem that might gas the adoption of the distributed ledger expertise and cryptocurrencies.
By 2021, Mayor Park mentioned that Mapo, a serious district in Seoul, will assist a “blockchain park” that with greater than 200 corporations engaged on the event of distributed ledger expertise.
Final month, Mayor Park said that the federal government will develop a citizen’s card utilizing the distributed ledger which might be used to course of funds, retailer mileage, and perform a wide range of every day duties.
The federal government chosen ICONLOOP because the official operator of the Seoul Blockchain Demonstration Venture and the ICON group is anticipated to be concerned within the improvement of most distributed ledger-based functions of Seoul within the years to come back.
Initially, the grand imaginative and prescient of the federal government of Seoul was met with combined reactions from analysts and the native cryptocurrency group. However, as the federal government continues to push its plans ahead and present progress, it could persuade the individuals of Seoul that the blockchain may be broadly applied.