Busan, the second-largest South Korean city, will provide residents with access to public services through a blockchain identification application from Coinplug.
Korean startup Coinplug is still working within the framework of the so-called regulatory sandbox, organized by local authorities. The company's application runs on the Metadium blockchain and based on its decentralized identification technology.
The system allows you to store data on personal devices, and only cryptographic information is transferred to the blockchain. That ensures a balance between the confidentiality of personal data and the need to create secure records on the blockchain. (The latter is usually achieved through the operation of centralized servers containing all the data).
The company's application will allow citizens to access a wide range of public services, avoiding a personal meeting with the specialists of the centers. Residents of the city already have the opportunity to use the local Busan Citizen ID, as well as other types of chip cards issued by the city government.
Besides, the Coinplug app has a crypto wallet that can work as part of the integration of cryptocurrency payments into South Korean post offices.
The trend towards the digitalization of public services in South Korea began long before the blockchain became popular in some countries. A Coinplug spokesman in an interview with Cointelegraph said the city’s choice of a decentralized platform speaks of Busan’s desire for deep technological innovation, where blockchain technology will play an important role.
Earlier, we talked about the fact that the University of the South Korean city of Daejeon has prepared several programs for blockchain specialists, although many graduates of educational institutions rarely find work in their country.