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South Korean City Of Seoul To Employ Blockchain Technology In Its Citizen Cards – Report.

In line with a native news report published by ‘Queen.co.kr’, the ‘South Korean‘ city of Seoul will employ ‘blockchain‘ technology within its citizen cards.

The mayor of Seoul named ‘Park Won-soon,’, participated within the ongoing event “Korea Future Forum [KFF] 2019 & Blockchain Tech Show,” reporting on the city’s achievements in deploying the leading technologies together with blockchain and AI [Artificial Intelligence].

The mayor outlined the role of blockchain in storing knowledge, highlighting that the worth of data “has become even additional vital than before.” In line with Park, the city of Seoul can implement blockchain in collecting urban and administration data to enable new services like integrated authentication system of citizen cards along with other tools for simple access to various administration services.

Park emphasised that Seoul authorities have already provided blockchain-enabled admin services, together with mobile e-voting and automotive sales.

Park has expressed confidence concerning blockchain technology within the past. Earlier in last year, the mayor ‘introduced‘ a 5 year set up plan for developing the blockchain businesses, with the city government getting to invest about $12 Mln’s into a $88 Mln blockchain fund.

Later in Feb. 2019, the Seoul Metropolitan Government ‘declared‘ an initiative to invest more than $1 Bln in ‘blockchain‘ and fintech startups by the year 2022.

Also recently, South Korea’s Financial regulator, the FSC [Financial Services Commission], ‘approved‘ 9 fintech firms to operate within the country as a part of a restrictive sandbox.

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