fbpx
Skip to content Skip to footer

Seoul Smart City Aims to Distribute S-Coin to Citizens

Seoul, the capital city of South Korea, is currently under Seoul’s Smart City Program. It will become a city that supports blockchain technology for various functions, especially in governance. 

The digital currency, called S-coin, is used as a reward to the public when using government services or engaging in civic duties and can be used to redeem rewards. Programmed by the government, S-coin is expected to be launched in November this year. 

There are many uses for S-coin and the government has full authority to decide the utility and quantities of the S-coin. For example, a parent with S-coins can exchange them for prizes at selected stores for their children, or set up a reward scheme for services such as parking, paying taxes or even filling up government surveys.

The use of S-coin is also a method to gather data on citizens across a myriad of profiles, which allows the government to utilise such information to develop infrastructure and policies more efficiently.

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us