Technology

4-A. Blockchain Technology

Crypto City

Block chain applications can be extended beyond security to technologies for city data management and economic and political institutionalization, which can basically provide a technology model that is suitable for self-government, decentralization and cooperation.

A stable opening and de-centralizing of various city data without compromising privacy of individual citizens would also result in a transparent trading of a series of economic activities through a cryptocurrency based platform.

In addition, the administration of welfare budget, such as issuance of local bonds, donation,

and relief activities, can be replaced by cryptocurrency-based local currencies.

Crypto Information

Cryptocurrency, combined with other digital technologies, can be embedded in many IoT- based devices, which will serve as the most important foundation for a blockchain system that provides a new driving force for social change through transparent, affordable operations and adequate compensation so that all data generated by IoT devices can freely flow and create dynamic services.

New Shared Economy

The first shared economy was an innovated innovation that shifted from ownership of an asset to a shared concept of an asset.

Exclusive ownership of the data will now be transformed into a shared approach, serving as an agenda for new innovations. The true shared economy creates a blockchain itself, not by a third-party certification authority, because it operates collectively on a blockchain basis without a trusted arbitrator, and without a trusted intermediary.

Blockchain technology can support a much more collaborative approach to crowd sourcing,

and since there are no arbitrators, the value generated within these platforms can be distributed equally to contributors.

Blockchain Voting System

It will function as a typical form of digital empowerment.

Because it is possible to change one's final opinion before the end of the vote and possible to check whether one's vote was included in the count, there is no concern about manipulation, and the voting history is kept permanently so that reliable online voting can be carried out without an interference of central election management institution.

Voting participants will be able to simultaneously act as members to verify the integrity of the voting system while ensuring anonymity, and voters will be able to transfer their voting rights to experts they trust and to make it more transparent and convenient to even proxy votes through their representatives.