South Korean Administrative District Builds Blockchain-based ‘Proposal Evaluation System’ | Crypto News
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.
The press release describes how the results of an evaluation committee will “digitally sig[n]” their decision on the blockchain, “and the evaluation result will be displayed on the [Yeongdeungpo-gu office] homepage in real time.”
Chai Hyunil, the chief of Yeongdeungpo-gu office, notes in the press release,
“We expect that the integrity and reliability of the city will be further improved by utilizing the new technology of the fourth industrial revolution, the blockchain. “
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. The country’s government has also started work on new industry classification standards for the domestic blockchain industry that will be revealed by the end of July.