ICONLOOP to participate in Seoul Blockchain Based ISP (Information Strategy Planning) Project

Kickoff reporting session of the ‘Seoul blockchain-based ISP Project’

Greetings from the ICONLOOP Team,

Seoul, November 30, 2018 — ICONLOOP has been exclusively selected as the sole operator of the ‘Seoul blockchain-based ISP Project’, which is commissioned by the Seoul Metropolitan Government.

This blockchain-based project aims to use automation to increase the convenience of the online qualification process, which is necessary to select recipients for public service and welfare. Also, it hopes to improve the working environment for part-time workers through immutable labor contracts, streamlined insurance, and better oversight of potential mistreatment.

From November 2018 to February 2019, ICONLOOP will analyze blockchain-based unit activities and informatization status, and establish a phased plan to implement ‘online qualification without any documents’. In particular, ICONLOOP plans to review legal regulations and amendments regarding the Privacy Act, the Information Telecommunication Network Act, and the Credit Information Act, and devise a plan to link with other agencies’ services including the ‘Employment Contract for Small Business application’, operated by the Korea Federation of Micro Enterprise.

Blockchain technology can empower citizens with the right to manage personal information as well as improve citizens’ administrative convenience and work efficiency by enabling fast and accurate qualification with minimal effort. At the same time, the smart contact between part-time workers and employers is expected to pave the way to create a proper working environment, such as managing work history transparently and preventing unpaid wages.

To that end, ICONLOOP participated in the kickoff reporting session of the ‘Seoul blockchain-based ISP Project’ held at the Smart Information Center of Seoul Metropolitan Government on November 23rd. The event was attended by 22 representatives from ICONLOOP and related departments of Seoul Metropolitan Government, including policymakers for youth and labor.

J.H. Kim, CEO of ICONLOOP and council member of the ICON Foundation said, “We will focus on developing ISP consultancy, customized for the city of Seoul in order to demonstrate the real value of blockchain, including transparency and efficiency.” He added, “We will focus our capabilities on designing realistic welfare process models and mid-to-long term development plans by thoroughly reviewing the regulations when adopting blockchain.”

Additionally, ICONLOOP was selected as an operator of Seoul’s standard blockchain platform for the ‘Seoul Blockchain Demonstration Project’ in August. ICONLOOP has been applying loopchain, ICONLOOP’s proprietary blockchain engine, to the Seoul Blockchain Standard Platform, used car trading system, and mobile-voting system for six months. Also, ICONLOOP has provided other individual verification services such as the citizen card, mileage point integration, subcontract payment, and others.

Ultimately, we will strive to realize and communicate the value of blockchain technology through real use-cases, allowing various ICONLOOP’s projects to interoperate with the public network.

Thank you,

Hyperconnect the World