As the days pass, blockchain is becoming a name, which is common in many households. According to reports published by the local media outlet, Newsis, Yeongdeungpo-gu a district in South Korea has implemented blockchain technology in its proposal evaluation system in order to further improve and develop the transparency of their administrative processes.
This system which is based on blockchain, is one of its kind, and the first such one in the region. It will be incorporating the immutability and the issues about data legitimacy of the blockchain into the selection procedures of various public service bidding company. The system has also garnered appreciation and applause in the sense that it won the grand prize last year for an anti-corruption best practices contest.
As per the publication, the evaluation committee commented:
“Yeongdeungpo was the first to apply this new technology to the proposal evaluation and it was so good that it was constructed to be easy to use.”
The system is a way in which blockchain technology is being used in day to day lives. There are however plans to expand the application of blockchain and the current system built upon it to other local governments. With new use cases coming up on a very regular basis, developments in the crypto and blockchain industry in South Korea are no surprises, so much so that it continues to gain adoption as applications of the blockchain infrastructure continue to emerge in the nation.
Recently, while government ministries in South Korea pushing the nation’s blockchain infrastructure to the seas in a new marine logistics project, the Defense Acquisition Program Administration (DAPA) also launched a program which will give a grant of up to USD 530,000 to develop defense applications based on the 4th industrial revolution technologies.