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The South Korean government is literally redoubling its efforts to process the blockchain in the public sector, adding further projects and increasing the funds available for 2019.
The Korea Internet & Security Agency (KISA) – a sub-organization of the Ministry of ICT – said it wants to increase the number of blockchain pilot projects in the public sector from six of this year to 12 in 2019, as reported by CoinDesk Korea.
"In the next year, we are considering expanding the blockchain pilot projects in the public sector to 12 and planning to support more than three national private-sector blockchain projects," said Min Kyung-sik, head of the blockchain group at KISA .
In addition, the government agency will also increase the blockchain pilot budget for 2019 to over 10 billion Korean won, or $ 9 million, in addition to the $ 9 million fund previously reported for 2018 and 2019. [19659005] In June, the Ministry of ICT revealed a development plan and collaborated with other relevant ministries to develop six blockchain projects in the public sector – all selected from a total of 72 project ideas presented by 41 institutions.
The six projects were focused on the management of the livestock production chain, customs clearance, online voting, real estate transactions, logistics and cross-border distribution of electronic documents.
KISA has indicated for the year that the government has earmarked $ 3.76 million for the six projects, with $ 3 million from the government and the rest from private contributions.
The results of the current pilot projects will be announced in November, after which KISA will host a block hackthon competition in December, in an effort to select new design ideas, the agency said in the report.
Seoul image via Shutterstock
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