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ICON showcases 3 blockchain apps with Seoul government.

October 30, 2018 09:41
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ICON’s initiatives to connect South Korea in its blockchain-powered ecosystem are gaining momentum. Recently, at the Blockchain International Digital Festival, which was hosted by the Seoul Metropolitan Government, ICON demonstrated the three main components of its blockchain ecosystem for the residents of Seoul – ICON Blockchain Identification Card, ICON Blockchain Vote, and ICON Blockchain S-Coin Payments.

What is in store for the residents of Seoul with ICON’s blockchain products?

The first being a national blockchain based citizen ID card. A user’s details and photo was taken on a laptop and the digital ID card transferred to a mobile phone once a QR code has been scanned. The system is a little rudimentary at the moment but shows the potential this platform has with citizen based applications.

The second demo was of the ICON blockchain voting system which was touted to be the ‘next generation election system’. A user registered a vote using the platform and is then rewarded with an ‘S-coin’, which was pegged to the Korean Won for this demo. The Korea National Information Society Agency and the Korea National Election Commission have collaborated on this project to digitize voting and embrace the qualities a blockchain can bring to the process.

S-coin payments were the third item on the agenda. This is a prototype cryptocurrency called Seoul Coin aimed at digitizing payments across the city. Scanning a QR code of the product would transfer its details and price to a mobile app which can then be used to make payment for it instantly using digital currency with no need for cash or cards.

The aim of ICON’s blockchain products is to create a more reliable, democratic, and prosperous society.

ICON has been very active building ties with the South Korean government in recent months. According to another blog post; “ICON is actively leading state-level discussions with the government to accelerate the state of crypto legislation in the country.” South Korea is one of the most crypto-friendly nations on the planet and they clearly aim to keep that accolade.