South Korea: district administration in Seoul and used the Blockchain for public tenders

the South Korea has made another promising Blockchain project. The administration of Seoul city, Yeongdeungpo has begun the process of public procurement using the Blockchain technology around the world. A further step in the South Korean capital is a declared goal to be a "Blockchain-Hub".

By Christopher clover
16. January 2019BTC$3,596 thousand,74 -0.46% part Facebook Twitter LinkedIn xing mail

More transparency and less corruption in public procurement: The administration of the district of Yeongdeungpo in the South Korean capital Seoul, hopes the use of the Blockchain technology. As the South Korean news platform NEWSIS on 16. January it was reported that the Distributed Ledger technology (DLT) this year for all public tenders of the city district.

"We have made an effort to improve the integrity and reliability of the management of Yeongdeungpo through the successful application of the Blockchain for the evaluation of tenders",

commented managing member Jeon-il the decision. The district administration has received for its Blockchain Initiative last year, already had a price from the South Korean Ministry of Information and communication. The occasion of a competition on the theme of fighting corruption. Yeongdeungpo was able to win the main prize. Also because of this success, the plan is in Seoul now, the use of the DLT to other municipalities to extend.

Seoul's Blockchain-Agenda: think big, don't forget to make

fits The Initiative of the district in the image of the increasingly as a Blockchain-stroke stage capital. Mayor Park Won-soon has presented in October 2018 and its "Blockchain-map for 2018 to 2022". Won-soons Plan is ambitious, but also with adequate resources. For the implementation of the Blockchain Agenda around 90 million euros, are at least equivalent. Thus, the city administration should be made fit for the fourth industrial Revolution. Numerous pilot projects have already been initiated, including a block-chain based voting system. Furthermore, additional EUR 47 million to help in the construction of two building complexes to accommodate up to 2021, a total of 200 Blockchain Start-ups.

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However, the South Korean Ministry of defense has the Blockchain on the Radar. So companies can submit since the middle of this month, proposals for applications of the DLT in the defence sector. The winners of the tender for state funding, waving funds in the amount of up to 600 million South Korean Won (just under half a Million euros).