South Korea to launch blockchain-based digital ID scheme by 2024

ID Card

The South Korean government is working on a blockchain-based digital ID for its citizens that could launch as soon as 2024.

According to Bloomberg reporting, South Korean citizens will soon have access to digital IDs embedded in their mobile phones to function in the place of physical resident registration cards.

The blockchain-based IDs would be fully decentralised so that the government cannot see how or when the ID is being used.

They are planned for a 2024...

LG Electronics expanding into blockchain and crypto opportunities

Seoul, South Korea

LG Electronics, South Korea’s fourth largest company, has added blockchain and crypto as new business areas to its corporate charter as part of its plan to expand beyond home appliances.

According to local news source JoongAng Daily, the two crypto-focused objectives were approved by shareholders during the company’s annual general meeting on March 24.

The objectives were detailed as “the development and selling of blockchain-based software” and “the sale and...

Lee Jae-myung to raise Korean election funds through NFT rewards

Election Campaign

Lee Jae-myung, presidential nominee for the ruling Democratic Party of South Korea, plans to raise election funds through a blockchain platform and reward NFTs to donors.

The world-first move comes in a bid to gain support from tech-savvy young voters, especially those with an interest in cryptocurrencies.

Each NFT will include an image of Lee Jae-myung with election pledges inscribed below. They will be offered to anyone who sends money to his fundraising campaign ahead...