Seoul Works With Samsung SDS on a Blockchain Project

Seoul Works With Samsung SDS on a Blockchain Project

Seoul, South Korea`s capital, has chosen Samsung SDS to apply blockchain technology to the city`s entire administration.

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Seoul, South Korea`s capital, has chosen Samsung SDS to apply blockchain technology to the city`s entire administration.

Samsung SDS, the IT subsidiary of Samsung, has been appointed by Seoul`s Metropolitan Government to establish an Information Strategy Plan (ISP) for “Innovation in Building Blockchain (Solutions) for Seoul City”, as the company revealed.

The project relates to the city government`s intention to apply blockchain technology to the administration of the municipality by 2022. The latter tries to improve citizen convenience and administrative transparency, according to cryptocoinnews.com.

In statements, Samsung SDS chief executive Hong Won-Pyo said that the company wants to contribute to Seoul becoming a world-class city by strengthening the transparency, fairness and civic convenience by investing in its own blockchain technology.

This is Samsung SDS`s first blockchain project that hopes to introduce the technology into the public sector. Earlier this year, the company reportedly launched its blockchain platform known as Nexledger, a service built for the enterprise to empower secure and convenient distributed transactions.

On the other hand, Seoul`s city initiative resembles similar projects taking place in Dubai, where the local authorities strive to obtain the title “first blockchain city” by 2020.

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