Gimhae City Leads Blockchain Ecosystem Development in Partnership with Coinplug

Gimhae-si, Gyeongnam, signed a business agreement with Coinplug to create a blockchain ecosystem.
[Image source=Gimhae-si]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] On the 28th, Gimhae City in Gyeongnam announced that it has signed a business agreement with Coinplug Inc. for a pilot project to expand blockchain services.

Coinplug is a specialized company that has filed over 320 patents related to blockchain.

Selected this year for the Ministry of Science and ICT's public contest project, Coinplug will complete the development of two service projects by the end of this year: a blockchain-based non-face-to-face identity verification and facial recognition payment platform, and a distributed identity verification system linking online and offline order delivery services. These will be piloted in Gimhae City.

This project aims to innovate public services by applying blockchain technology to daily life, with a total budget of 1.6 billion KRW, including 1.2 billion KRW in national funds and 400 million KRW in private sector contributions. It is part of the joint government Digital New Deal comprehensive plan and blockchain technology expansion strategy, accelerated by the transition to a non-face-to-face economy due to COVID-19.

Starting with this agreement, the city and Coinplug will mutually cooperate to discover blockchain-based public services tailored to Gimhae citizens, jointly promote government blockchain contest projects, and create a data-driven digital economy blockchain ecosystem.

Mayor Heo Seong-gon stated, "Blockchain is gaining attention as a core non-face-to-face infrastructure leading the digital economy," adding, "Through this agreement, we will strive to discover various citizen convenience services for realizing an intelligent information society and to foster the blockchain ecosystem."

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