ICONLOOP selected to demonstrate Seoul blockchain platform

Self-developed blockchain engine, ‘loopchain’ demonstrated to Seoul standard blockchain platform


ICONLOOP, the company developing ICON’s blockchain engine, has been selected as an operator of Seoul’s standard blockchain platform for ‘Seoul Blockchain Demonstration Project’ (directed by Uracle), which is commissioned by the Seoul Metropolitan Government.

This project is a follow-up project of the Seoul Metropolitan Government’s ‘Information Strategy Planning for Building Blockchain Based Municipal Innovation (ISP)’ conducted last year. It includes introduction of the Seoul standard blockchain platform, two blockchain leading businesses, and three verification businesses for the provision of blockchain-based administration services. It is of great significance as a starting point to verify and construct a Seoul-based blockchain technology which will be extended to all aspects of administration services of Seoul in the future.

ICONLOOP will apply its self-developed blockchain engine, ‘loopchain’ to Seoul Blockchain Standard Platform, used car trading system, and mobile-voting system over the next six months. Also, verification business is planned for services closely related to citizens’ living such as citizen card, mileage integration, subcontract payment, and others.

The ICON Foundation expect a transparent and efficient administration services as well as an invigoration of Seoul economy by applying ICONLOOP’s blockchain technology to Seoul’s blockchain platform. J.H. Kim, the CEO of ICONLOOP and council member of the ICON Foundation added, “Seoul Blockchain Demonstration Project is expected to serve as a bridge for Seoul’s blockchain platform and S-Coin (Seoul Coin) in the future.”