"Integrating Blockchain into Daily Life" Ministry of Science and ICT Selects 15 Blockchain Pilot Project Tasks

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT announced on the 27th that it will promote the ‘2021 Blockchain Pilot Project’ with the Korea Internet & Security Agency to explore the practical applications of blockchain in everyday life.

As part of the ‘Digital New Deal Comprehensive Plan’ and the ‘Blockchain Technology Diffusion Strategy,’ the pilot project supports the early adoption and spread of blockchain technology in the economy and society, aiming to innovate public services. From January 8 to February 23, a total of 55 consortia (149 companies) freely proposed projects in areas such as digital identity and credentialing, culture and arts, logistics, and distribution. Currently, 15 projects that have completed technical negotiations have been prioritized and initiated.

A representative case among the selected projects is the ‘Blockchain-based Non-face-to-face National Pension Eligibility Verification System Pilot Project.’ According to this project, the National Pension Service plans to apply blockchain technology and decentralized ID (DID) to the pension eligibility verification system, enabling pension recipients living overseas to conveniently submit verification documents via a mobile app instead of by mail.

The Ministry of Science and ICT explained that this will digitalize procedures such as document receipt and review related to changes in pension eligibility, reducing administrative costs and preventing fraudulent claims in advance by ensuring transparency.

The Korea Internet & Security Agency will support the successful implementation of the selected projects by forming a ‘Project Advisory Committee’ consisting of blockchain technology, internet security, and legal experts, and plans to closely cooperate with the ‘DID Technology and Standardization Forum,’ composed of blockchain and DID technology specialists.

This content was produced with the assistance of AI translation services.