South Korea Promotes 14 Blockchain Projects: Public and Private Initiatives
Date: 2024-06-18 Author: Oliver Abernathy Categories: BLOCKCHAIN
The South Korean Ministry of Education, Science and Technology (MSIT) has announced the launch of an ambitious program to promote blockchain projects in the private and public sectors. Together with the Korea Internet and Security Agency (KISA), this initiative aims to introduce blockchain technologies into various areas of the country.
One of the key projects is the creation of a digital voucher management platform based on central bank digital currency (CBDC). This project aims to simplify and automate digital asset management processes in the public sector.
Integrated Employment Support Service
The project to create an integrated employment support service based on digital IDs will be an important step in modernizing the labor market. Digital IDs will help simplify the process of confirming qualifications and finding a job.
A platform for issuing digital badges confirming the history of study in higher education institutions will provide students and graduates with a convenient way to demonstrate their academic achievements.
This project aims to streamline and ensure transparency in the government procurement process for rice, one of the country's key food products.
The creation of a system for electronic certification of notarial document flow will significantly reduce the time and costs of legal procedures.
Membership Base for Participation in the Environmental Program
The Environmental Practices Membership Project aims to encourage environmentally responsible behavior among citizens and organizations.
CPLabs is developing a platform that will provide developers and startups with tools and resources to create and test blockchain solutions.
Oasis Business will offer small businesses financial management services based on blockchain technologies, ensuring security and transparency of transactions.
This project will be aimed at creating a platform for issuing security tokens, which will allow operators of piece investment business to effectively manage their assets and raise capital.
Comments from MSIT Representatives
MSIT Director of Information and Communications Policy Eom Yeol said, “As blockchain technology is currently being used in various areas beyond the financial sector, such as mobile ID, online voting and ticket scalping prevention, we will continue to open up and support innovative technologies."
South Korea is actively investing in the development of blockchain technologies, both in the public and private sectors. These projects aim to improve the efficiency, transparency and security of various processes and services, which ultimately contributes to the digital transformation of the country.
Let us recall that in South Korea they plan to turn the temporary department for investigating cryptocurrency crimes into a full-fledged department, which indicates the seriousness of the state’s intentions in regulating and supporting the crypto industry.
