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    Blocktoq»Crypto News»A Korean city is opening public services for blockchain-based identification applications
    Crypto News

    A Korean city is opening public services for blockchain-based identification applications

    KonradBy Konrad10 June 2020Updated:12 March 2021No Comments2 Mins Read
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    Busan блокчейн техгология|Coinplug децентрализированое приложение для корейского народа|Корея технология развития|Тех разработка Корея
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    Busan will allow citizens to access government services using the ID application developed by Coinplug

    In short:

    • Busan and new blockchain application
    • Commitment to blockchain technology
    • The technological future of South Korea

    Busan and new blockchain application

    South Korea’s second-largest city of 3,679,000 people has launched an identification application that uses public blockchain to verify citizen data. The application was developed by Korean startup Coinplug using blockchain Metadium technology and decentralized ID technology to power the application.

    Coinplug decentralized app for Korea Busan people

    Through this system, user data is stored on their devices and only cryptographic proof of information is sent to the blockchain. Thanks to this solution there is a balance between the privacy of personal data and the need to create data records protected against manipulation. 

    The application will allow citizens to access a large number of government services which are difficult to access due to the COVID-19 pandemic. The application also has a cryptographic portfolio.

    Commitment to blockchain technology

    According to numerous analyses, the trend in the digitisation of government services began long before blockchain technology was popularised in some countries, as is the case in South Korea. 

    A Coinplug spokesman says that the city’s choice of a decentralized platform is part of a larger plan to introduce many technological innovations in Busan, with blockchain playing an important role in them.

    Tech development Busan Korea

    Busan’s activities focused on the digitisation of many services and the development of blockchain technology have led to the launch of local crypto in cooperation with one of the largest telecommunications services provider KT and the promotion of fintech in the city in cooperation with Hyundai Pay.

    All of Korea maintains a positive view of innovative blockchain technology, and its president Moon Jae-in said in 2019 that the country must be at the forefront of effective blockchain regulation with personal data identified as a priority.

    The technological future of South Korea

    South Korea’s Deputy Prime Minister for Strategy and Finance, Koo Yun-Cheol, believes that blockchain technology offers a “golden opportunity” for the country. For this reason, the Korean government calls for active participation in and development of the blockchain industry.

    Korea technology development

    Blockchain as new technology is gaining increasing support and interest from governments around the world. The technology is already used to record voting rights and store documents. 

    Universities in South Korea like Daejeon are the first to design their faculties in terms of taking advantage of the country’s technological development opportunities by offering modern courses such as fintech, blockchain and artificial intelligence.

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