Seoul Mayor Announces They Will Make His Own Cryptocurrency
Mayor of Seoul announces that they will make their own cryptocurrency. In an interview with Coindesk Korea on March 30, Seoul Mayor Park Won-soon announced the intention of the South Korean capital to launch its own cryptocurrency, adding that they will create a better environment for the development of digital currency projects and Blockchain.
Mayor of Seoul to develop ‘S coin’ cryptocurrency
Park Won-soon said on March 22 that he will watch the creation of industrial clusters and startups for Blockchain, and that Seoul’s own cryptocurrency, “Currency” He made an announcement stating that they will work on the development of the “S coin”. Stating that he will help prepare the necessary institutional and legal foundations to achieve this goal, he added:
Seoul, 4. I naturally think that new technologies such as blockchains should be studied, since it is the world’s leading city in the field of information and communication, including the industrial revolution.. In order to create the S coin, we must get institutional and legal support, just like mayors.
Blockchain technology will be used in all administrative work
In Estonia’s Blockchain-based project, we have to help the country’s society transition to digital media. Following her lead in helping, Park Won-soon discussed the potential use of Blockchain technology in Seoul’s public transportation and all administrative affairs such as electricity, water and gas infrastructure management.
South Korea’s constraints of Seoul Mayor projects r
Hankyoreh stated that Seoul’s Blockchain initiatives are expected to go into effect in April this year.. Finally, Park Won-soon touched upon the strict policies of the Korean government regarding crypto money, stating that they want a freer regulatory environment to emerge in the future, adding:
The Ministry of Justice announced the regulatory measures for the last time.. This is tremendous resistance and the government seems to have thought deeply about it.. First, the task of local government to create cases and models. If Seoul releases certain regulations, it will be able to make its work towards cryptocurrency and Blockchain technology more liberal.
Seoul Metropolitan Government cooperates with Samsung SDS
Seoul in November 2017 The Metropolitan Government is collaborating with Samsung SDS to develop an information strategy plan targeting welfare, public safety and transportation for the city of Seoul’s blockchain-based municipal innovation in 2022. The project also aims to increase transparency for government services.
Cointelegraph