Bitcoin Forum

Seoul City will also apply blockchain technology to its administrative operations, using its own currency as a means of payment.
Seoul, South Korea is planning to launch its own encoding currency, S-Coin. According to the report, S-Coin will be used for government-funded social welfare activities.

Mayor Park Won-soon announced the plan in an interview with CoinDesk Korea last week. Mr Park also said the city would set up a fund for blockchain technology development and blockchain-related startups.

Park said, "Seoul is one of the world's leading cities for information and communication. In this fourth technological revolution, I think we should study new technologies like blockchain. "

Just as Estonia is adopting a blockchain in its administrative activities in the government, Park said that Seoul could also apply blockchain technology to its administration. For example, public transport in the city, or subsidized youth.

In addition, Park believes that S-Coin can be used as a payment method for city-sponsored welfare programs. For example, health care programs for people, or help students find a job.

Seoul was the first city in South Korea to introduce a roadmap for the development and application of blockchain technology. In November 2017, the city government contacted Samsung to plan a strategy for platform-based innovation.

References: coindesk

First of all, this is a reprinted article. Don't overdo it by asking people to give you merit, which may be offensive.
Try to post some high-quality posts, and the chances of getting merit are higher.

Will be the positive news for the bitcoin price self, for the positive news where the government of South Korea want toe release and create new digital coin for application their coin. It will be more benefit for the bitcoin it self, most the fact will be make the bitcoin self will grow up because one of the famous country have allow their coin for making the transaction for their country, will be positive news for the member bitcoin of the South Korean country, I thin they will glad of this information, maybe at the other country will make the same thing.

That is, it will be a fully centralized coin. However, on the other hand, if in conventional ICO campaigns their tokens serve the interests of this campaign, then why not create tokens that can serve the interests of a large city, such as Seoul. I consider this to be normal. We need to conduct more different experiments in order to maximize the use of the crypto currency for human needs. Only in this way can the crypto currency be diversified and for a long time to enter our life.

Thanks for the reminder, I will keep this in mind, I'm trying to create quality posts

In my opinion a larger advance of the South Korean government is to seek to decentralize this currency, showing that the digital world and the crypto world tend to be distributed rather than centralized in a small group. Anyway, it's great news and we can agree that it benefits the name and the concept of Bitcoin.

This is good news for blockchain technology and cryptocurrency market. I think cryptocurrency is going to be popular day by day.

I think so, initially the state of venezuela sold ico and guaranteed by their reserves of oil. It is now Korea, and there is information that the United States will collect taxes on crypto operations, proving the crypto has been recognized and is about to spread.

Interesting, do you think it will pull Cryptos with up trend?

This is good information. It's actually convenient. And the whole world will have a good impact on the market. South Korea is a progressive country.

Venezuela launched their coin first , Russia is in discussion about their own cryptocurrency ,and now Seoul launching their city-coin . Probably it's not a bad idea , but I don't like the fact that it will be a fully centralized , while cryptocurrencies was created to bring decentralization and freedom to everyone .

Is there anyone kind enough to give me a CoinDesk link about the article discussed by op?
I look for it but the result is nothing.

lol, I can't see where he mentioned the term "merit", and it's also not a reprinted article, he mentioned that he got the info from coindesk, if I were the OP I would add a link to the article, but besides that he didn't do nothing wrong.

This seoul coin is not a decentralized coin and is just a centralized coin that is using the blockchain to mantanain the network,it's nothing related to bitcoin and it doesn't show any recognition of South korea to Bitcoin.

Check this link. This could be what you're looking for.
https://www.coindesk.com/south-koreas-capital-is-planning-to-launch-its-own-cryptocurrency/amp/

I think this is one of the breakthrough for cryptocurrency in Korea, knowing its negative stance before when bitcoin was at the heights of euphoric price. Korea is one of the countries that has pronounce its resistance against cryptocurrency. Having them to embrace cryptocurrency is a plus for bitcoin as well. We'll see how this will go.

As I see it, it would be a local currency, many cities have one. For example, in Liverpool they have Colu that is a local digital currency.

But I recently read that the Korean government banned banks from doing any operations with crypto-currencies. This is very bad news...

Instinctively no matter how good your source is about this information
There is no logical explanation or links to back up the claims but it will be a good development
If it actually happens

I think this is a good one for the entire Cryptos' world. This actually a boost that will help us in the current mess we have found ourselves; by this I mean market dip. I must say we need something like this at a time like this.

wow, when bitcoin and altcoin can not be controlled by the state then by making a legitimate coin is the right solution. because by making legitimate coins the country can follow the increasingly sophisticated technological developments. maybe in the future people will transact using virtual money.

these centrally issued crap coins are going nowhere. global trustless decentralised crypto is the way to go.

If this news about Seoul coin lunch is something to go by then it's a welcome development for the cryptocurrency world because South Korea is one of the world  largest crypto economies. Let us hope that South korea will implement this project to a successful completion. Thanks for the information.

This is just the start of things to come. First south korea will launch an official coin, then japan, china, and the rest of the world will follow suit. Mass adoption is on the way everyone. This low dip is probably the last chance to get in on the action. Bitcoin boom will start soon and the other alts will follow

Well, I think, governments seem to be attracted by electronic money, I hope within the next few decades, we can replace paper money into electronic money. Thus the trading system can be stable and can test for corruption + environmental protection

Eee, Koreans, I believe in them and their projects. I hope something will work out and show the whole world how to do it.

It seems to me that this country is still trying to control the crypt and therefore created this exchange as one of the factors of coin legalization. Perhaps it is a good step, but it is not too related to decentralization.                     

As always this is great news, i believe in the steep development of this stock exchange. If South Korea does integrate ICOs into its legislation, then it will be the capital of cryptocurrency!