South Korean District to Implement Blockchain for Administrative Transparency

An administrative district in southwest Seoul plans to use a blockchain-based system for evaluating proposals.

A district in the South Korean capital has announced it will apply blockchain to its proposal evaluation system, privately owned local news agency Newsis reports on Jan. 16

According to the article, South Korea’s Yeongdeungpo-gu — an administrative district in southwest Seoul — aims to strengthen its administrative transparency by applying a blockchain-based evaluation system.

The system will also help to avoid falsifications within the various public service bidding company selection procedures, the publication notes. The blockchain-based application will be used throughout all proposal evaluation projects in the district in 2019, with plans to expand to the whole department, as well as other municipalities, in the future.

Last summer, the Yeongdeungpo-gu district had announced the building of the blockchain-based proposal evaluation system for increasing the fairness, transparency and integrity of administrative procedures, as Cointelegraph reported on Jul. 19.

Today’s announcement underlines the success of the Yeongdeungpo-gu’s experiment in the application of blockchain tech, Newsis reports.

Earlier this week, the South Korean Ministry of Strategy and Finance added blockchain to the fields of research and development eligible for tax credits, with the aim to support innovations within the ecosystem, as Cointelegraph wrote on Jan. 12.

Also this week, South Korea’s defense arm announced a pilot for developing blockchain applications.

Source: Cointelegraph