The mayor of Seoul, Park Won-soon participated in the ongoing event “Korea Future Forum (KFF) 2019 & Blockchain Tech Show,” that boasts on the city’s achievements with embracing major technologies such as blockchain and artificial intelligence.
The mayor went on to highlight blockchain’s contribution in storing data, noting that the value of data “has become even more important than before.” As per park, the city of Seoul will implement blockchain in collecting urban and administrative data that will enable new services such as integrated authentication system of citizen cards, as well as tools for easy access to various administrative services.
Park noted that the authorities in Seoul already have blockchain-enabled administrative services, including mobile e-voting and car sales. In the past as well. Park has illustrated his confidence over the technology, in late 2018, a five-year plan for developing the blockchain industry was introduced, wherein the city government planned to invest around $12 million into a $88 million blockchain fund.
Further in February this year, the Seoul Metropolitan Government announced an initiative to invest over $1 billion in blockchain and fintech startups by 2022.