Graph Blockchain & South Korea Govt Collaborate on Smart City Development

Asia Blockchain Review
July 11, 2019

Graph Blockchain Inc., headquartered in Richmond, Canada, has announced that it is entering a partnership with the Ministry of Transportation of South Korea. According to Cointelegraph, the Canadian firm will operate a pilot program to track and store traffic data on a blockchain-powered platform.

Blockchain Technology Drives Seoul’s Smart City Initiative

According to the company’s June 24th press release, CEO Jeff Stevens said in a statement that Graph Blockchain will implement distributed ledger technology to “streamline and protect” traffic data in the South Korean capital of Seoul

Graph Blockchain will reportedly operate the open-source Hyperledger Fabric framework to develop the blockchain platform.

The contract between the firm and the South Korean government was worth approximately C$55,000 (approx. US$41,921). The project is part of a pilot program in South Korea’s smart city initiative. 

South Korea Driving Blockchain Development for Seoul

In 2018, Seoul Mayor Park Won-soon said the city’s administration is working on the establishment of the ‘Blockchain City of Seoul’. The project, which will span five years, is aimed at developing the blockchain industry in the nation’s capital. 

Mayor Park added that in the near future, administrative systems will run on blockchain, including the voting system, charity management, vehicle history reports, and identification cards. 

Meanwhile, financial institutions in South Korea are also adopting blockchain solutions and developing blockchain innovation. However, cryptocurrency has been largely ignored in the country due to the lack of government support, as initial coin offerings (ICOs) have been banned.

Source: https://cointelegraph.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Covid-19 is A Wake Up Call: Infinity Blockchain Labs Taiwan Explains
    Get more insights on the bandwagon of adapting towards the future technology of transparency to trac...

    May 29, 2020

    Transparency and Traceability of the Future Technology
    ABR recently had a chat with Steve Nam, the Managing Director of WOWTRACE on authenticity and transp...

    May 29, 2020

    Vottun Takes The Road Less Travelled
    We got to catch up with Rohan Hall, Founder/CTO/CEO Vottun USA, to share his thoughts on his firm’s ...

    May 28, 2020

    MAHSA University on Blockchain: Exclusive Interview with Dr Saad Musbah
    ABR recently spoke to the Head of Student Central and Senior Lecturer at MAHSA University, Dr. Saad ...

    May 27, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us