Last week, the Seoul City mayor announced a $100 million dollar five-year plan to develop the capital into a smart city powered by blockchain (source). Seoul boasts technological advancements ahead of other major cities across industrialized countries in many aspects, and this announcement takes the metropolitan one step further. The potential of blockchain technology has proven beneficial for activities that require transparency and security. The government investment means its adoption across major public services including labour welfare, vehicle registration, donations, and electoral affairs.
While conversations around blockchain and crypto currencies are often mixed together as one in the same, it is important to recognize that currencies are only one application of blockchain. When strict regulations on crypto currency trading were enforced in South Korea last year, many speculated that it would halt the development of the blockchain industry. But the regulatory actions were a reaction to problems within the ecosystem, such as hacking and fraud allegations (source).
Seoul remains a major destination for the blockchain community to gather. It hosts some of the largest blockchain related events in the world including Fact Block, Beyond Blocks, and #Hashed, drawing thousands of attendees from around the world (source). Do a quick search for blockchain in Seoul, and you’ll find dozens of Meetups for community members to gather to discuss the potential development and application of blockchain technology to disrupt various industries.
Here are 10 industries blockchain is likely to disrupt:
- Real estate
- Rentals & ride sharing
- Charities & aid organizations
Do you have an idea with blockchain? Pitch your idea, make a team and connect with mentors to bring your idea to reality in 54 hours.
Early bird registration for Seoul Startup Weekend: Blockchain edition on November 30 – Dec 2, 2018 is now open: https://www.eventbrite.com/myevent?eid=50897536903ttps://goo.gl/forms/0iW5PXLJXZQx8lS72
Startup Weekend Incheon
August 28th-30th, 2015
For the first time in years, Startup Weekend comes to Incheon! And this time, it’s sponsored by some big players in a highly influential space. Allianz Korea and IBM have partnered with Yonsei’s International Campus at Songdo and Design Factory Korea to bring you a weekend designed to help you launch the next big thing in the area of “Health & Lifestyle Management”.
We will be working in a Google-inspired facility called “Design Factory Korea”, launched in February 2015 at Yonsei’s Songdo campus.
Everybody is invited to participate. We are looking for business people, insurance professionals, and of course, designers and developers.
Mentors and judges for the event will be announced in August 2015. Stay tuned!