Blockchain For Administrative Use By Seoul Gov’t Taps Samsung SDS For Deployment

Announcements, Blockchain, Innovation, News | November 27, 2017 By:

The Seoul Metropolitan Government, a local government in South Korea, has teamed with Samsung SDS, the Internet technology solutions unit of Samsung Group, to implement blockchain technology for administrative use.

The local government is seeking to apply the technology to its administrative work across the city’s welfare, public safety and transportation affairs by 2022 to improve transparency operations and increase convenience for citizens.

Under the agreement, Samsung SDS will establish an Information Strategy Plan (ISP) on blockchain technology. It will analyze the environment to introduce and spread the technology throughout the city’s municipal government for five months. The IT service provider will also work towards the development of future model designs and systematic implementation plans.

“Samsung SDS’ blockchain technology and consulting capabilities will contribute to Seoul’s leap as a top-rate global city,” said Samsung SDS CEO Hong Won-pyo.

Back in April, Samsung SDS released its enterprise blockchain security platform Nexledger. The platform allows companies to provide various transactional services. Its blockchain-based identification and payment services enable massive transaction processing in real time, automated safe transaction, and monitoring. Some of its identification technology has already been applied to services of its sister company, Samsung Card Co.

In September, Samsung SDS has been selected by the Korean Federation of Banks to build and deploy an Inter-Bank Blockchain System, which will connect 18 major commercial banks in Korea and Korea Federation of Banks onto one platform. The platform will enable the co-authentication of bank customers for various banking transactions on the blockchain.