South Korea to Double Blockchain Trials in Public Sector Next Year


#1

The South Korean government is literally doubling down on its efforts to trial blockchain in the public sector, adding more projects and increasing available funds for 2019.

The Korea Internet & Security Agency (KISA) – a sub-organization of the Ministry of ICT – has said it is aiming to increase the number of blockchain pilot projects in the public sector from six this year to 12 in 2019.

“In the next year, we are considering expanding blockchain pilot projects in the public sector to 12, and plan to support more than three private-led blockchain national projects,” said Min Kyung-sik, head of KISA’s blockchain team.

Further, the government agency will also boost the blockchain pilot budget for 2019 to more than 10 billion Korean won, or $9 million, in addition to the previously reported $9 million fund for both 2018 and 2019.

In June, the Ministry of ICT revealed a development plan that would see it work with other relevant ministries to develop six blockchain projects in the public sector – all selected from a total of 72 project ideas submitted by 41 institutions.

The six projects were focused on livestock supply chain management, customs clearance, online voting, real estate transactions, cross-border e-document distribution and shipping logistics.

KISA indicated for this year, the government has allocated $3.76 million for the six projects, with $3 million coming from the government and the remainder from private contributions.

The results of the current pilot projects will be announced in November, after which KISA will host a blockchain hackthon competition in December in an effort to select new project ideas, the agency said in the report.


#2

Every day we see the development of the crypto industry around the world. Many people start to trust crypto-currencies more, many companies create projects based on blockchain technology, many states try to regulate the crypto market. This is all very wonderful!


#3

We want more of these, all around the world. Good news will attract more investors, more money inflow means market expansion and the uniformity of distribution of coins specially bitcoin which may (or may not) eliminate the problems of market whales which can easily manipulate market.


#4

I remembered how they banned ICOs and now the world turned upside down, they are really showing support of blockchain technology. It’s quite amazing that SK has already realized what blockchain can bring to their country, hopefully more others will come in and test the ideas and projects of startups and established ones which are applicable to government and its leadership.I have been seeing articles being published, that they have been actively coordinating and partnering with blockchain projects for community good. Surely, they wanted to be ahead of the game. Soon, they will be used to blockchain while others are still there, doing their traditional stuff in managing and leading a nation.


#5

Soon other countries will follow them but most of us just wait for someone to experiment with something new. When South korea will benefit from all this, others will follow SK and at that time, SK will emerge as a leader in blockchain technology.