- Survey: Most U.S. Crypto Investors Do Not Plan to Deduct Losses Incurred after Selling Bitcoin
- Ford, Cobalt, IBM, LG & RCS Introduce a Blockchain Initiative for the Mineral Mining Industry
- Ripple Reassures It’s Safe in Response to “Biased Nonce Sense” Paper
- Outside Audit Confirms Circle’s Stablecoin USDC Is Fully Backed by USD as of the End of 2018
- Research: Cryptocurrencies Are Extremely Volatile and Unpredictable, Excess of Altcoins Will Drag Down Bitcoin
South Korea has a history of supporting blockchain projects, they have even increased the blockchain budget for next year to continue to grow the space. Next on the blockchain landscape in South Korea is a plan to develop a blockchain voting system. The system will be developed by South Korea’s Ministry of Science and ICT with help from the National Election Commission (NEC) and will go on trial in the private sector in December.
South Korea see this as the next step in encouraging trust in a more digital way of dealing with democracy. The country implemented an online voting system back in 2013, nicknamed K-voting. Many governments around the world are considering online voting to encourage more people to vote and taking away the logistical difficulties of in-person voting. However, trust in the Korean system remains low due to concerns of hacking and fraud.
Features of the Blockchain Voting System:
- Users will vote on mobile phones or computers.
- All data will be saved on a distributed network that will be viewable by all voters.
- Voters could see votes as they progress
- Voters will be authenticated and results saved in the blockchain.
- The NEC will decide whether the system should be rolled out after the trials have completed.
Despite a few hiccups with blockchain and cryptocurrency issues within South Korea, the country continues to push their support for the industry. It seems South Korea, both the government and private businesses are trying to ready themselves to be on the frontier of blockchain technological development worldwide. Blockchain startups have become a significant part of the new business landscape in South Korea, and the government continues to lend their support for development.
In many ways, a blockchain voting system seems like a no-brainer. We live in an increasingly digital and fast-paced world that makes us dependent on technology to get things done efficiently. So why are we still voting in the old fashioned way? South Korea seems to be pushing ahead in this area in a way most of Europe and the US are still hesitant to. If the project and trials are successful, we may see other countries follow suit and skip online voting altogether, jumping straight to blockchain voting.
We are confident that South Korea will announce their findings of the blockchain voting system after the trials. We will keep you posted as announcements are made.