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Why Seoul And Vermont Governments Use Blockchain Technology

The Seoul Metropolitan Government is a local government of Seoul, South Korea who has used a public Blockchain technology of ICON in order to issue a mobile letter of appointment to its Blockchain Governance Team which is known as The Seoul Blockchain Governance Team. The government has organized the team with the main aim to provide blockchain administration services across several industries.

ICONLOOP is the company behind ICON which has more than 100 business partnerships since 2018. It has built the letter which can’t just be issued but also viewed with the help of the personal cell phone of a member of the team. The member is able to issue the letter with a name, member identification number, and membership terms after complying with the terms and conditions. The public blockchain keeps records of Letter of appointment issuance with the main objective to prevent falsification and fake issuance. ICON Tracker tends to search for a specific transaction in order to verify the authenticity of the records.

The Team consists of 100 citizens which are from colleges, corporate representatives, developers and from other fields. Participating in a pilot operation of blockchain technology-based administration services and providing feedback are the main choices of the team. It will help to develop administrative services of the Seoul Metropolitan City and some of the services are mileage points integration, citizenship card services, online authentication without documents and sub-contract payments protection for part-time workers’ rights, Medium reported.

The council member of the ICON Foundation and CEO of ICONLOOP J.H. Kim said, “We expect the increase in public blockchain use-cases led by government, and this appointment letter issuance is a starting point to show a clear example of how blockchain can be used in government. ICONLOOP will focus on improving development capability to provide transparent and efficient blockchain-based administration services, cooperating with Seoul Metropolitan Government.”

Michael Pieciak, a Secretary of State Jim Condos and Department of Financial Regulation Commissioner, signed a memorandum of understanding (MoU) on January 9, 2019, in order to use blockchain technology with the main aim to help digital recordkeeping practices of captive insurance companies who offer risk-mitigation services for their respective parent companies. On January 10, 2019, the Department of Financial Regulation and the Secretary of State’s Office issued a Request for Information (RFI), a standard business process which helps to collect written information related to various suppliers’ capabilities. The main purpose behind this issued standard business process is to identify those vendors who work with the State in order to launch a pilot program and allow the registration of new captive insurance companies with the Secretary of State with the help of the blockchain. The pilot program is basically created to test the blockchain functionality. It will contain a review and revision of relevant statutes, rules, regulations, and bulletins and these things will facilitate the blockchain implementation, The official website of Vermont reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shabnam Dhar is a Copy Editor for OWLT Market.

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