Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

South Korean province successfully completes blockchain-based voting for local community project

Blockchain startup Blocko Inc. announced that Gyeonggi-do, a populous province of South Korea, has adopted a blockchain-based voting system that is developed by Blocko, in a vote for local community projects that are proposed by residents.

The successful completion of blockchain-based voting involved about nine thousand residents who took votes on and off-line. The online voting system was adopted in the vote for the “Ddabok Community Support Project” that involved smart contracts technology developed by Blocko.

“Numerous institutions have contacted us to adopt a blockchain-based voting system after the voting in Gyeonggi-do. By using a blockchain technology in online voting, we can save expenses required to maintain a central management agency and time to collect vote results,” Won-Beom Kim, CEO of Blocko, stated in the release.

Using smart contracts technology, the pieces of information that are needed for voting such as voters, voting contents, among others can be registered in a blockchain that allows highly credible online voting without the engagement of a central management agency. According to Beom Kim, the high levels of authenticity and security would be gained as vote results and voting process that are stored in blockchain are immune to cyber-physical hacking and counterfeiting.

“Blockchains will change the world within a few years just as smartphones did. We can complement the limits of representative democracy with some direct democracy systems by using blockchains, the technology of the Fourth Industrial Revolution,” Nam Kyung-pil, the governor of Gyeonggi-do Province, stated.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

October 20 18:00 UTC Released

USFederal Budget,$

Actual

8 Bln USD

Forecast

6.00 Bln USD

Previous

-108 Bln USD

October 20 14:30 UTC Released

USECRI Weekly Index*

Actual

146.6 %

Forecast

Previous

145.2 %

October 22 21:00 UTC 14071407m

KRPPI Growth*

Actual

Forecast

Previous

October 22 21:00 UTC 14071407m

KRPPI Growth YY*

Actual

Forecast

Previous

October 22 21:00 UTC 14071407m

CAPPI Growth YY*

Actual

Forecast

Previous

3.2 %

October 22 21:00 UTC 14071407m

KRPPI Growth YY*

Actual

Forecast

Previous

3.2 %

October 22 21:00 UTC 14071407m

KRPPI Growth*

Actual

Forecast

Previous

0.3 %

October 23 01:30 UTC 16771677m

EZConsumer Confid. Flash

Actual

Forecast

Previous

8.3 %

October 23 01:30 UTC 16771677m

CNChina House Prices YY*

Actual

Forecast

Previous

8.3 %

October 23 07:00 UTC 20072007m

BRConsumer Confidence*

Actual

Forecast

Previous

68.70 Bln BRL

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.