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A City in South Korea is Expanding Its Blockchain Payment Program

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Stock, Top News
imageCryptocurrency13 hours ago (Aug 11, 2020 05:20PM ET)

A City in South Korea is Expanding Its Blockchain Payment Program

A major satellite city in South Korea, Seongnam, is preparing to expand its existing blockchain-powered payment program by issuing new digital gift certificates.

According to Kyunghyang Shinmun, the city’s Blockchain infrastructure will rely on a mobile app named Chak app. This app will be built by the Korea Minting and Security Printing Corporation, or KOMSCO. Seongnam’s project hopes to make it easier for elderly and middle-aged residents to utilize the city’s existing Blockchain technology. They also hope to strengthen the use of contactless payments during the COVID-19 pandemic.

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A City in South Korea is Expanding Its Blockchain Payment Program

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