The City of Seoul Will Create a Cryptocurrency for Citizen Rewards

The Seoul Metropolitan Government will establish its first blockchain-based administrative services in November, according to a report in the Korean-language blockinpress.

At a conference held last month and attended by city officials and representatives of the private sector, specifics of the roll out were discussed, with timelines and goals established. The meeting seemed to revive an initiative that had lost some momentum since first being announced late last year.

Three priorities were set for completion by the November deadline. The city’s blockchain points system will be introduced and residents of Seoul will receive S-coins for the use of public services. They will be able to redeem those points for rewards. Services that generate the coins include paying taxes and participating in public opinion polls.

Seoul’s point system will integrated with ZeroPay, a city-government sponsored QR-code-enabled network established last December. It allows customers to pay…