ICON (ICX) has presented three key components of its blockchain ecosystem. Following its initiative to connect South Korea and ICON’s ecosystem, the project has showcased three blockchain apps. According to a blog post released by the company, ICON showed its Blockchain Seoul project with the Seoul Government. The demonstration has been conducted at the Blockchain International Digital Festival.
ICON Unveils its Blockchain Solutions for Seoul
The three initiatives for residents of Seoul are an identification card, a voting system and a payment gateway. The main intention is to create a more democratic and prosperous society.
With the ICON Blockchain Citizen ID Card, it is possible for users to get started with a digital registration. The user needs to fil basic details about himself and take a photo using a laptop. After it, the ICON ID Card is transferred to the mobile phone once the user takes a photo of the QR code.
The second application is the ICON Blockchain Vote. Once the user has created an ID card, it will be able to vote using ICON’s Voting system. Once the vote is performed, residents can be rewarded with the S-Coin. As per the official press release, the S-Coin seems to be paired 1:1 with the Korean Won. In order to build this ‘Next Generation Election System,’ the company worked in collaboration with the Korea National Information Society Agency and the Korea National Election Commission.
The third application that has been showcased at the event was the ICON Blockchain S-Coin Payments. The S-Coin payment system would allow users to scan a QR code of a product. After it, the user will be able to have the product details on its smartphone.
After it, the payment for the product will be made using the application that the user has downloaded.
ICON is currently the 37th most valuable virtual currency in the market. It has a market capitalization of $241 million dollars and each ICX token can be purchased for $0.622 dollars. However, at the beginning of the year, this virtual currency was worth more than $12 dollars.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
