Blockchain could soon be integrated into South Korean apartments.
The Blockchain frenzy in South Korea has now reached the housing sector, with the national government pledging $1.27 million in funding for a blockchain-based platform that targets apartment residents across the country.
According to ZDNet Korea, the South Korean Ministry of Science, or ICT, chose a local firm, Ksign, to develop a contact-free platform which will let residents engage with electronic voting, parking space management, and other housing-based governance measures.
The platform will also aid with social distancing, said the announcement. The project’s creators further noted that they expect it will “strengthen public health in the apartment spaces.”
Homeowners, residents, and management will be able to use the platform, which will also provide video conferencing and electronic payment solutions.
Keo Ja-in, vice president of Ksign, commented on the upcoming platform:
“We are developing a DID that can be applied to the token ecosystem by controlling personal information and verifying the identity by controlling personal information. The goal is to also create a token ecosystem that can be used in any store.”
The head of the Seocho regional government recently proposed a blockchain-powered voting platform for residents and praised the recent influx of crypto-related developments across the country.