S. Korea to demonstrate blockchain-based investment service in southern port city

By Kim Joo-heon Posted : December 14, 2021, 16:13 Updated : December 7, 2022, 17:27

[Gettyimages Bank]

SEOUL -- A blockchain-based investment system will be demonstrated in South Korea's southern port city to allow citizens to invest in real estate and other investment goods using the unhackable virtual ledger system. Blockchain-based systems use decentralized identity technology which gives unique digital identities for people with virtual ledgers.
A blockchain-based investment service will be launched in Busan's blockchain demonstration zone on December 15 to offer reliable services, the Ministry of SMEs and Startups said in a statement. Busan has a special blockchain demonstration zone where various blockchain-based services including logistics and tourism-related services are being test operated.
The startup ministry will also demonstrate a personal medical record verification service in the regulation-free zone. Using the blockchain-based verification service, medical experts can collect necessary medical records provided by individuals using an alias for anonymity. The information will be used for the development of medications. People who provided their medical records can check and see how their personal data was used.
Busan is currently operating a blockchain-based integrated certification service app called "B pass." In July 2021, Busan added a digital wallet service to help users verify their identity and carry digitally issued national certificates through smartphones. Users can also take subway trains and city buses without bringing actual transport cards and charge money using their smartphones.   
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