These pilots aim to leverage blockchain technology for real estate, online voting, shipping logistics, livestock record management, customs clearance, real estate, and international e-document distribution.
The Ministry’s press release also gives examples of private blockchain initiatives it plans to promote, including “smart city” and “smart factory” projects, a blockchain system for the used car industry, and a blockchain-based “safe school food” distribution initiative.
In addition, the Korean government will back the development of BaaS (Blockchain-as-a-Service), to allow small and medium-sized enterprises to implement blockchain solutions efficiently.
Funds will further be allocated to blockchain research projects, infrastructure development, a blockchain technical support center and sandbox, as well as to reviewing legal issues specific to smart contracts.
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