Tuesday, January 31, 2023

Asian Tech Hub Seoul Chooses Samsung as Blockchain Partner

Asian Tech Hub Seoul Chooses Samsung as Blockchain Partner

In an effort to enhance the lives of its everyday citizens and bring administrative transparency, the Seoul Metropolitan Government announced it has selected Samsung to establish an information strategy plan for complete blockchain integration by 2022.

Also read: Bitcoin ABC Says ‘Great Money’ Is Top Priority for Bitcoin Cash in 2018

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A Quest for Transparency

It is no secret that senior leadership at Samsung have made focusing on blockchain technology a big deal and a priority going forward. Earlier this year, they launched an enterprise blockchain security platform called Nexledger, and recently they had been selected to build an inter-bank blockchain system for banks throughout Korea.

Now they want to enhance the lives of everyday citizens by partnering up with the Seoul Metropolitan Government. According to an official city release, Samsung has recently signed on to develop an information strategy plan (ISP) in order to help Seoul utilize the blockchain in administrative and municipal affairs such as safety, welfare, and transformation.

Courtesy of Samsung, Seoul is moving on-chain.

Development for the Future

Samsung SDS, which is the subsidy of Samsung that not only has successfully commercialized Samsung’s blockchain platform Nextledger, but will be working with the Seoul government, has high hopes for the integration of blockchain technology in local government IT systems.

Per Hong Won-Pyo, CEO of Samsung SDS:

“Samsung SDS intends to contribute to the city becoming a world-class city by strengthening its transparency, fairness and civic convenience through its own blockchain technology and consulting capability.”

When thinking about where blockchain technology can be integrated into the normal lives of its citizens, the solutions truly are endless — but they may be some years away. The goal is a complete integration by 2022 with an implementation initially in areas that require personal information such as unemployment allowances and car sales.

Per the contract, Samsung SDS will plan the future model design and implementation for the Seoul government but leaves open the opportunity for them to partner with other areas of Samsung looking to utilize blockchain technology such as Samsung SDI, which is focusing on using smart contracts during the product manufacturing lifecycle.

Do you think Samsung will be able to successfully deliver a high-level enterprise blockchain platform as well as provide a working solution for local governments in a timely fashion? Tell us below!

Images via NYTimes, YouTube

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