Seoul Mayor Wants Its City to Become a Blockchain Hub

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Park Won-soon, Seoul’s mayor, wants its city to become a blockchain hub as new elections arrive in June for South Korea’s capital, reported Coindesk on May 22.

Soon, which is Seoul’s mayor since 2011, is seeking to be re-elected for a third time and he emphasizes the importance of the blockchain technology to help the city to become a center for blockchain development.

The city government makes a lot of effort regarding the blockchain technology for the creation of six major new industrial complexes to facilitate Seoul innovation in Seoul.

On May 20, Park announced its commitment to the technology as he pledges to turn Mapo Fintech Lab into a dedicated center for fintech and blockchain innovations. It was the first proposal from Seoul government supporting the blockchain space.

The mayor also announced in April that he wants the blockchain technology to be applied in many different public services such as municipal administration in order to enhance transparency in governance processes.

At the beginning of April, Soon revealed that Seoul was planning to launch its own cryptocurrency called the “S Coin”, which would be used a “payment method for city-funded welfare programs for public employees, young jobseekers and citizens helping the environment by saving electricity, water and gas.”

 

 

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