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South Korea Ties-up with Samsung SDS to Introduce Blockchain Technology in City’s Administrative Circle

Samsung SDS, the IT subsidiary of Korean electronics major Samsung, has got into an agreement with the metropolitan government of Seoul to formulate a roadmap for application of Blockchain technology in the city’s administrative circle by 2022. It will include the development of a platform for the welfare, social security and transportation.

The city administration hopes to bring in more transparency to the system with the application of Blockchain technology. The administration plans to first apply the technology to municipal works like collecting private information of the citizens, recording of allowance payout of unemployed youth and registration of sale of used car deeds. The term of the contract specifies Samsung SDS to bring out a roadmap toward introduction and spreading awareness of blockchain technology across the city’s municipal government over the next five months. It also specifies to come out with future models for implementation across government departments.

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Samsung SDS chief executive, Hong Won-pyo said on the agreement: “Samsung SDS intends to contribute to the city becoming a world-class city by strengthening the transparency, fairness and civic convenience through its own blockchain technology and consulting capability.”

This agreement is first for Samsung SDS to introduce and implement blockchain technology into the public sector. Earlier this year, it has launched its first commercialised blockchain based security solution Nexledger and its biometric solution Nexsign. Considering it as a technology of future, the South Korean government is very optimistic about its application in public sector.

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