03/02/19 09:00 UTC-4

Korea’s second largest political party introduces blockchain

According to an official announcement published on January 31, the conservative political party of South Korea – Liberty Korea (LKP), announced its goal of using 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 four main areas.

LCP, formerly known as the Saenuri Party, is currently the second largest party in the national legislature of South Korea, occupying more than a third of the seats in the 20th National Assembly. By 2015, the LKP includes more than 3 million people.

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Plans and goals of the party

The party intends to usher in a new era of open digital democracy by introducing the blockchain technology. The goal is to make the information more transparent and create "a new system in which citizens and party members can participate in a revolutionary way."

"Blockchain, which is considered one of the key technologies of the 4th Industrial Revolution, is a technology that allows users to share data and guarantee mutual trust."


The introduction of Blockchain technology

The Liberty Korea party is introducing the Blockchain technology in four main areas. One of them will record the results of meetings of central and local parties, and the second will record and evaluate key performance indicators of members. The release also mentions the possibility of providing tokens to participants, but it does not specify how the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
system or its purpose will be implemented.

The third area that will be used in conjunction with blockchain technology is the process of voting for elections in the party, which will include an online system based on the blockchain, which will ensure anonymity, transparency and security, – marked in the ad.

The blockchain will also be used for the petition system, thus preventing the manipulation of comments submitted by party members.


The development of blockchain in South Korea

The South Korean government recently began exploring the use of blockchain technology for administrative and political transparency. Back in July of last year, the administrative district in the south"west established: The system of evaluation of proposals" based on the blockchain, aimed at improving the existing processes of evaluation and fairness of administrative procedures.

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Later in November, the Ministry of Science and Information Technology of South Korea and the National Election Commission announced a plan to use blockchain technology for the online voting system.

Last month, Yeongdeungpo-gu, an administrative district in the capital of South Korea, officially announced the launch of an evaluation system based on blockchain technology and aimed at enhancing administrative transparency.

Editor: Yulia Krasnaya

See also: "The RegTech Blockchain startup TRM Labs raises $ 1.7 million"

#Korea #blockchain #cryptocurrency #party



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