South Korean chat giant Kakao's blockchain subsidiary will cooperate with Seoul Digital Foundation to co-develop blockchain projects.
Ground X, a digital think tank backed by the Seoul city government, and the foundation will jointly develop projects that will bring innovation to the public sector as well as those with social impact.
The two will also host global events to promote the blockchain ecosystem going forward.
Blockchain was already in use by NGOs and government institutes for fundraising, donations, voting, and tax collection thanks to its security and transparency, Ground X said.
The company recently hired big data expert Dr Jong Gun Lee who worked at UN Global Pulse, an initiative by the United Nations to harness big data, artificial intelligence, and other emerging technologies for sustainable development and humanitarian action
Lee recently showcased blockchain applications in Africa and Southeast Asia in the public sector at a social impact-themed event hosted by the Presidential Committee on the Fourth Industrial Revolution, an organization dedicated to promoting new technology set up by South Korean President Moon Jae-in.
Ground X is also planning to launch its own blockchain platform within the year.
Seoul is also cooperating with Samsung SDS to build blockchain for use in city governance.
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Samsung SDS has unveiled Nexfinance, an AI-powered blockchain finance platform that aims to help digital transformation in the enterprise.
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This special report from ZDNet and TechRepublic examines the potential for blockchain to shake up the economy and redefine industries. Download the entire report as a free PDF ebook.