Residents of the South Korean city of Busan can now access government services using a blockchain-based mobile app developed by Coinplug.
The application based on the Metadium blockchain uses decentralized identifier technology. All users ‘ personal information is stored on their own devices, and only cryptographically encrypted identity verification is transmitted to the system. This way a balance is reached between protecting users ‘ data and protecting them from fraud.
Thanks to the app, residents of South Korea’s second most populous city can get the necessary public services without having to physically attend the relevant departments. In addition, the app has a built-in cryptocurrency wallet that will be used to pay for South Korean Post services.
Coinplug operates as part of a regulatory sandbox launched in Busan for blockchain firms. According to the company’s representative, the choice of a decentralized platform shows Busan’s desire for technological innovations, including blockchain.
Recall that in February of this year, the Busan authorities announced a partnership with Hyundai Pay, which plans to develop the blockchain industry in the region.