The Mayor of Seoul Pledges Blockchain Boost In Re-Election Push

Blockchain technology

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Park Won-soon, the mayor of South Korean Capital Seoul, pledged to continue supporting Blockchain development as he rallies up for re-election in June this year. The mayor has been in office since 2011 and is now seeking a third term in office. He recently announced his commitment to helping Seoul’s Mapo district in becoming a center for Blockchain incubation.

A report from Seoul has indicated that it will be pledging to turn one of its complexes called Mapo Fintech Lab into a dedicated hub for fintech and Blockchain. The proposal is the first of its kind from the Seoul Metropolitan Government in support for the nascent Blockchain sphere.

According to the report the initiative is in line with the mayor’s remarks in April that Seoul will seek to apply Blockchain technology in different public services including its own municipal administration and the government’s management in a bid to increase convenience and transparency of public governance.

Earlier this month the mayor also revealed that they were also working to develop their own digital currency called S-Coin which will be used in the city’s social benefits and other programs. The city officials are also working to launch a dedicated fund to support the growth of Blockchain startups.

Soul is following the footsteps of other developed cities like Dubai which is already implementing blockchain systems for security in its airport. British Airways through its parent company AIG are also working to launch a Blockchain system which will ease congestion in airports. They have already partnered with a startup company called VChain which received the royal Seal Approval after winning the Royal Blockchain challenge in the United Kingdom.

Many Countries are also working around the Blockchain technology in an effort to bring transparency to the public sector and increase better service delivery. Blockchain has also been supported to lead the next industrial revolution.

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