The local press in Seoul informed about the intentions of the city authorities to issue their own cryptocurrency, as well as introduce blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details technology in some areas of management. According to the information, the S-coin will be available for public testing.
As reported, Seoul’s local authorities intend to implement blockchain technology by November this year. The blockchain in Seoul will support a document filing system, as well as an identity for residents of the city. Also, blockchain technology will be introduced to improve the work of the "Seoul resident card".
In addition, as part of the blockchain program in Seoul, its own cryptocurrency will appear. The coin will act as a reward to city residents for charity, participation in surveys and other social activities. According to the report, Seoul's cryptocurrency will be called S-coin.
Cryptocurrency news of the capital also related to its fake exchange. So, S-coin tokens can be exchanged for city points. Seoul points will then be used to pay for purchases through the local ZeroPay financial system.
Seoul will release cryptocurrency at the city level. Recall that The South Korean fashion industry platform, Sinsang Market, has joined the Terra blockchain.
Editor: Jerg Wos