It seems like more and more countries are finally getting over their Blockchain phobia, with the capital of South Korea, Seoul, as the most recent one. The mayor of Seoul publically announced that the city is launching a blockchain based citizen card. I must say it is incredible to watch the increase in Blockchain adoption taking place all over the world. Therefore in this article, we will go into more detail about Seoul’s blockchain implementation, as well as acknowledging the brands and countries that are also incorporating crypto in their system.
South Korea and blockchain
Even though South Korea has banned initial coin offering (ICO) before and also imposed several regulations on cryptocurrency exchanges, they have embraced blockchain technology in some of their recent achievements. They have attempted to implement a solution to Interbank settlement and payments using blockchain technology.
Seoul using Blockchain Technology in Citizen cards
At the on-going “ (KFF) and Blockchain tech show” that Park Won-soon attended he reported on how well the city of Seoul is doing. Park elaborated on their achievements that include the use of significant technology like artificial intelligence and the famous Blockchain Technology. Mayor Park Won-soon emphasised how data has become important more than ever, and its storage and safety is vital. Therefore Seoul will be using Blockchain Technology to collect public and administrative data that will allow services like; integrated authentication of their citizen cards and tools that make accessing administrative services easier.
Moreover, in 2018, the mayor of Seoul showed that he had confidence in the growth of Blockchain; by presenting a five-year plan towards the development of the Blockchain Industry in the city of Seoul. And at the show Park also highlighted how the city already provides administrative services that are Blockchain-enabled such as car sales and e-voting.
Countries and brands joining Blockchain
There are so many other countries, brands and cities like Seoul that are implementing Blockchain technology in their systems. Countries like Singapore, England, Ukraine, the UAE, Kuwait, China, Japan, Canada, Switzerland and many others. However, some other countries, such as India have quite a paradox approach to blockchain and cryptocurrency. The legality of cryptocurrencies such as Bitcoin, is still under ‘evaluation’ by the Central Bank of India, while at the same time they’re considering their own Laxmi coin.
As for Brands, there are so many Major Brands that are incorporating Blockchain in the improvement of their services. Brands such as Starbucks, eBay, Uber, Facebook; supply chain stores like Walmart and overstock, Citigroup and State Farm in banking and financial services; Intel, Samsung and more in electronics manufacturing and even Allianz and Metlife in Healthcare and insurance, the list is endless. Feel free to have a look at one of our recent news on Starbucks and eBay.
As Blockchain Technology continues to develop countries besides South Korea (Seoul) as well as some major brands are realising that it will keep improving and it is not going anywhere. That being said, the number of countries and brands that are starting to join the cryptocurrency world is quite encouraging. From banns and imposed regulations, name calling and bashing; to large institutions racing each other to incorporate Blockchain in their services. “ if you can’t beat them join them”