The 4th Industrial Revolution Committee directly under the President prepares a strategy to spread blockchain technology. In order to realize a hyper-connected, non-face-to-face trust society, it plans to promote 5 strategies and 21 assignments.

On the 24th, the 4th Industrial Revolution Committee held the 16th general meeting and decided on the agenda for the blockchain technology expansion strategy.

Through this meeting, the Committee establishes five major blockchain strategies; selection of 7 blockchain fields and system establishment, activation of distributed identity authentication service, support of BaaS (service-type blockchain) and support of overseas companies, development of core technologies and strengthening of global standard response, creation of blockchain innovation ecosystem, etc. In addition, 21 projects related to this will be promoted.

The Committee said, “With the advent of none-face-to-face era of Corona, securing trust among economic actors has emerged as one of the biggest challenges in economic management. We want to make blockchain strengthen our national capacity by receiving attention as a core technology.”

KISA selected seven areas that can demonstrate the advantages of blockchain, such as strengthening trust and efficiency, and allowing the public to experience it; establishing an online voting system that allows stakeholders to directly access and check the results of the voting and counting by domestic years (21~22), and build and upgrade a donation platform that can be checked from fundraising to beneficiaries (21~22), establishing a system to prevent social welfare benefits from overlapping supply and demand (20~23), establishing a comprehensive management system for new and renewable energy trading based on blockchain (21~22), utilizing demonstration cases in the Busan Regulatory Free Zone, introducing local digital currency (21~22), Smart contract-based real estate transaction service improvement (20~24), postal service integrated customer management system (21~23)

In addition, through the rest of the projects, it is planning to activate BaaS and DID services, bridge the technological gap with developed countries, and improve the legal system and prepare guidelines to create a blockchain innovation ecosystem.

Ministry of Science and ICT, which deliberated the agenda, said, “We will actively promote the proliferation of blockchain technology as a new growth engine for the future through this agenda item.”

On the other hand, in the course of discussion on this day, as the committee focused on blockchain technology, it was also suggested that committee members should recommend the direction of the policy that covers the entire blockchain ecosystem.