A South Korean media called Blockinpress has recently reported that the Seoul metropolitan government will establish its first blockchain-based administrative services starting in November, with rewards in cryptocurrencies, according to a report by the South Korean media Blockinpress.
During a conference held last month, where city officials and representatives of the private sector attended, specific details of the implementation were discussed, with deadlines and objectives set. This meeting seems to have revived an initiative that had lost some of its momentum since the first time it was announced at the end of last year.
A new compensation system for South Koreans
So far three priorities have been established to complete by the November deadline. A system of cryptocurrency points will be introduced in the city’s blockchain, according to which Seoul residents will receive S-coins for the use of public services. Citizens can then redeem those points for rewards. The services that the currencies will generate include: paying taxes and participating in public opinion polls.
The Seoul point system will be integrated with ZeroPay, a QR code-enabled network that was sponsored by the city government last December. This will allow users to pay for goods and services using only their phones, and does not charge service fees.
In addition to the S-coin, a blockchain-based service for the delivery of qualifications without the need for paper documents is also on the list of objectives to be completed for November. The improvement of the Seoul identity card with blockchain is also contemplated, to allow digital authentication in the use of public services.
Benefits for public and private companies
Seoul hopes that, by the end of this year, it may have its part-time workers rights program operational. The blockchain-based system will allow temporary and part-time employees: sign simple contracts with their employers, keep track of their work history, and keep control sheets. It will also help them to register properly in the registry of the four main social security programs. The purpose of this is to improve trust and relationships between small companies and part-time workers.
Other programs that were mentioned, but do not have a deadline for completion by the end of this year, include smart health care, donation management and online certificate verifications.
While blockchain services will be controlled by the city, they will be operated by private companies.
Seoul has been discussing for a long time the implementation of strategies related to the use of blockchain. Mayor Park Won-Soon conducted his campaign promising to implement relevant solutions for the city, and last October the promotion of the Seoul plan, the Blockchain City, was announced.
By the time it was submitted, 14 blockchain administrative projects were mentioned and 2022 as the completion date. A total of 127.3 billion won has been committed for the culmination of the plan, equivalent to USD 105 million.
Since then, very little has really happened in terms of true progress. The July meeting was the first tangible sign that something concrete is in process.