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We have seen many Digital Assets talk about how Blockchain technology can help create a fairer society i.e. democratise investing by tokenisation of illiquid assets such as property or help the unbanked, but what is the reality?
Well, in 17 cities across South Korea authorities are looking at how they could incentivise commuters to start cycling to work and reward them with tokens. Currently South Korea has only 2% of commuters who cycle, compared to Holland where up to 33% get on their bike to go to work.
Meanwhile, Seoul. in South Korea, is hoping to introduce a rewards program using the S-Coin token, rewarding citizens who pay local taxes and road tax bills online, receive health check-ups or vote in opinion polls. The S-token will be redeemable in participating stores via QR codes later this year.
The authorities in South Korea are also intending to add digital authentication for public services and integrate Blockchain technology to help send documents. It is intended that part-time workers will be able to sign simple contracts with employers, using a Blockchain-powered platform enabling employment history and financial details to be held securely and tracked in one place. The intention is that by 2020 Seoul would like to develop other ways to integrate Blockchain technology into healthcare, charitable…
