The Yeongdeungpo-gu district, a district in the South Korean capital, has declared that it will implement blockchain technology to its proposal evaluation system.
According to the local news agency Newsis, the system is expected to improve the transparency of administrative procedures. In particular, the system will mainly be used to avoid falsifications within the various public service bidding company selection procedures and improve the existing evaluation processes.
The district has already plans to expand this blockchain system to include the entire department and many other municipalities in 2019.
This announcement marks Yeongdeungpo-gu’s success in the implementation of blockchain technology. In July 2019, the district had announced the building of a smart administration with the blockchain-based “Proposal Evaluation System” to improve the integrity, transparency, and reliability of the evaluation proposal process.
In related news, the South Korean Ministry of Strategy and Finance has announced plans to add blockchain to the fields of research and development eligible for tax credits meant to boost innovation within the ecosystem.