2018-7-19 16:55 |
South Korea’s Yeongdeungpo-gu district has established a “Proposal Evaluation System” based on blockchain to improve the fairness and integrity of administrative procedures, according to a July 19 governmental press release.
Yeongdeungpo-gu, an administrative district in southwest Seoul, will implement a smart administration through new technologies with the blockchain-based “Proposal Evaluation System” to improve the integrity, transparency, and reliability of the evaluation proposal process.
The adoption of blockchain technology for administrative procedures aims to improve existing evaluation processes including real-time result disclosure, holding proposal review meetings, and publishing results of negotiations.
South Korea has recently been vocal about its intention to become a blockchain heaven and to lead the fourth industrial revolution, as Cointelegraph reported last month.
South Korea regulators had vowed last week to introduce new blockchain investment legislation to make it easier for blockchain businesses to enter the market.
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