The South Korean city of Seoul will implement blockchain technology in its citizen cards. According to the mayor of Seoul Park Won-soon, the technology will be used in collecting urban and administrative data, which will be useful to figure out where to provide new services for the city and its community.
The use of blockchain technology is not new to the city. Seoul already uses this technology in a number of its administrative services, including providing mobile e-voting as well as its use in car sales.
As a reminder, back in February, the Seoul Metropolitan Government announced plans to put over $1 billion in blockchain and fintech startups by 2022. Recently, South Korea’s financial regulator, the Financial Services Commission, authorized nine fintech companies to operate in the country as part of a regulatory sandbox.