The Seoul authorities plan to launch the first administrative services on the blockchain, as well as the S-coin cryptocurrency, this November.

Last month, a meeting of officials and representatives of the private sector was held in the capital of South Korea, where the details and deadlines for the implementation of the plan for the commissioning of administrative services on the blockchain were discussed.

Initially, the launch of such services became known last year, but the initiative was postponed. Then we were talking about 14 administrative projects. It was assumed that the program will be successfully implemented by 2022 and will cost $ 108 million.

It is reported that the S-coin cryptocurrency will be created and launched in Seoul, which can be used to buy certain bonuses. The coin will be issued for various actions, for example, paying taxes or participating in surveys.

In addition, it was decided to launch a blockchain service for sending documents and expand the capabilities of a Seoul resident’s card by adding digital authentication for using public services.

Also, by the end of the year, a blockchain system will be launched for employees who work part-time, allowing them to sign simple contracts with employers, monitor employment history and keep accounting schedules.

The authorities want to implement all these plans by the end of this year, and next year they will launch a number of other blockchain initiatives, such as “smart” healthcare, a donation management system and certificate verification.

It is reported that the services on the blockchain will be managed by private enterprises under the control of the city authorities