South Korea to Develop a Blockchain-Powered Online Voting System

Beyond Bitcoin and other cryptocurrencies, we are further entering into a radical evolution to transform the traditional voting systems and erase the questioning of the integrity of election processes.

South Korea plans to develop a blockchain voting system, with trials starting next month in the private sector. The trial runs will be conducted by the Korea Internet and Security Agency (KISA) together with Seoul National University’s Blockchain Society.

With blockchain being all the rage in tech over the past year, the country has also made significant strides in adopting the technology.

Kim Jeong-won, an official at the Ministry of Science and ICT, said:

“We expect the blockchain-based voting system to enhance the reliability of voting. The ministry will continue to support the application of blockchain technology to actively utilize it in areas that require reliability.” 

The online voting system is supported by Korean Fintech startup Blocko, by making using the technology of smart contracts to facilitate the voting process.

In an announcement, Nam Kyung-Pil, 34th governor of Gyeonggi Province stated:

“Blockchains will change the world within a few years just as smart-phones did. We can complement the limits of representative democracy with some direct democracy systems by using blockchains, the technology of the Fourth Industrial Revolution.”

According to the Follow My Vote website,

“By casting votes as transactions, we can create a blockchain which keeps track of the tallies of the votes. This way, everyone can agree on the final count because they can count the votes themselves, and because of the blockchain audit trail, they can verify that no votes were changed or removed, and no illegitimate votes were added”

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