Tech 28 November 2017

Cecille de Jesus

Samsung to take charge of Seoul government’s public sector blockchain platform

The project will cover welfare, public safety, and transportation by 2022.

Despite cracking down on ICO’s, South Korea is actually in on the blockchain and cryptocurrency revolution. In fact, its capital, Seoul’s government is partnering up with Seoul-based Samsung subsidiary, Samsung SDS to handle the development of its blockchain-based platform. The company will conduct feasibility studies and testing of the blockchain for application in welfare, public safety, transportation, and other municipal affairs. The project is set to launch by 2022 and would cover the entire city’s administration in order to facilitate services for its citizens and improve transparency within the government.

“Samsung SDS intends to contribute to the city becoming a world-class city by strengthening the transparency, fairness and civic convenience through its own block chain technology and consulting capability.”

In a statement, Samsung SDS says they are the first domestic company to expand its blockchain business into the public sector. They say that initial applications will include digital identity-based sectors, ranging from processes such as those in distribution of unemployment benefits, to used car sales and ownership registry.

According to a statement by Samsung SDS CEO Hong Won-Pyo, the project will help propel Seoul as a “top-rate global city.”

“Samsung SDS’ Blockchain technology and consulting capabilities will contribute to Seoul’s leap as a top-rate global city.”

Apart from the public sector, Samsung SDS is also expanding into other sectors where they can apply blockchain technology, including the banking sector. Their manufacturing arm, Samsung SDI is also applying the technology for its electronic contract system, the release notes.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

COMMENT

latest news

Blockchain analyst CipherBlade criticizes WSJ journalism, or lack thereof

Tech 22 March 2019

Blockchain analyst CipherBlade criticizes WSJ journalism, or lack thereof

CipherBlade, a blockchain investigation firm, has concluded that the Wall Street Journal (WSJ) has overstated its previous claims about the cryptocurrency exchange ShapeShift.

Read More
Unwriter announces Bottle, a Bitcoin browser

Tech 22 March 2019

Unwriter announces Bottle, a Bitcoin browser

Looking to find a way out of the world wide web, Unwriter has released Bottle, a new browser exclusively for the Bitcoin SV network.

Read More
Money Button CEO: How to upload large files to Bitcoin SV blockchain

Tech 22 March 2019

Money Button CEO: How to upload large files to Bitcoin SV blockchain

OP_Return has a 100KB upload limit, but Ryan X Charles will show you how you can upload much larger files with a new tool from Money Button.

Read More