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ICON Presented Blockchain Ecosystem for Seoul

  • Antony Koroid
    📰 News

    ID, voting and purchases are the first elements of the new concept


ICON Presented Blockchain Ecosystem for Seoul
Contents

Within the Blockchain International Digital Festival hosted by the Seoul Metropolitan Government, the ICON company showed three major elements of its Blockchain ecosystem for the residents of Seoul. Its showcase included the ICON Blockchain Identification Card, the ICON Blockchain Vote, and the ICON Blockchain S-Coin Payments.

What awaits the Seoul residents?

To obtain a Blockchain Citizen ID Card, users must fill in their basic information and take a picture via their laptop webcams. Clicking on the pic generates a QR code which transmits the ICON ID Card to a smartphone.

Creating a Blockchain ID card will allow users to access the ICON voting system that was created in collaboration with the Korea National Information Society Agency and the Korea National Election Commission.

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ICON acting there as a Blockchain technology consultant aims to create “the Next Generation Electoral System based on Intelligence Information Technology.” Users employing the ICON system for voting will receive a reward in S-Coin, a token pegged to the Korean national currency won at the rate of 1 to 1.

ICON Blockchain S-Coin Payments will make fiat-to-crypto exchange quick and tax-free while shopping. Users will need to simply scan the product’s QR code, which will transmit all product details to the app. The payment will be made automatically.

Future plans

In April, ICON launched its own mainnet and moved from the Ethereum network to its own Blockchain. Since then, ICON has been chosen by the Seoul government as an operator of the standard Blockchain platform for the ‘Seoul Blockchain demonstration project.’

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ICON is also discussing the possibility of turning Jeju into a Korean Blockchain hub with the authorities. Moreover, this October, the Seoul mayor Park Won-soon announced the intention to invest $108 mln in developing the Korean capital as a Blockchain-powered smart city. At the same time, the Mayor proposed to the use of S-Coin within the Seoul Metropolitan Government.

Cover image via u.today
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About the author

The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.

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Tron CEO Justin Sun Shrugs Off Money Laundering Accusations While TRX Price Plummets 20 Percent

  • Alex Dovbnya
    📰 News

    Justin Sun attempts to save his face after damning accusations, but the TRX price continues to bleed 


Tron CEO Justin Sun Shrugs Off Money Laundering Accusations While TRX Price Plummets 20 Percent

In a recently published post on Chinese microblogging website Weibo, Tron CEO Justin Sun denied a scathing article published by local media outlet Chinese media 21st Century Business Herald.

The controversial crypto boss was accused of money laundering, which is supposedly the reason why he cannot leave China and have lunch with Warren Buffett.

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Tron CEO Justin Sun Teases ‘Huge’ Announcement While Preparing for Lunch with Warren Buffett   

As Coindesk reports, Sun claims that the accusations are “wrong” and the Tron Foundation, which is based in Singapore, is compliant with all local regulations.

He explains that all Tron investors were refunded after the ICO ban in China came into effect, and there was no flow of capital involved.

“The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China,” claims Sun.

As reported earlier by U.Today, Sun is allegedly prohibited from leaving China while there is an ongoing investigation. In the aforementioned post, Sun failed to provide more details about his current whereabouts.

Meanwhile, the price of TRX continues to tank with a 20 percent drop over the last 24 hours, according to CMC data. This is the worst-performing cryptocurrency inside the top 100 at the time of writing.

TRX takes a hammering
image by CoinMarketCap 
Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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