South Korean Government Unveils Second Study Group for Blockchain Regulations
The South Korean Ministry of Science and ICT will run a follow-up study on blockchain regulations.
The study termed “Blockchain Regulation Improvement Study Group” is part of an initiative run by the government’s science and tech arm to figure out how regulations could be improved so that blockchain tech could achieve widespread institutional adoption.
The Blockchain Regulation Improvement Study Group was launched in June of last year, and initially focused on improving legal regulations pertaining to blockchain tech such as personal privacy, smart contracts, electronic documents and digital signatures.
This recent research group will focus on five institutional areas where blockchain tech can achieve widespread adoption: logistics and distribution, public services, healthcare, finance and energy.
The capital of South Korea, Seoul, will reportedly add blockchain technology to its citizen cards. This tech will purportedly allow the card holders to easily verify their identity and access administrative services.