{"id":2137,"date":"2017-03-09T16:01:15","date_gmt":"2017-03-09T16:01:15","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2137"},"modified":"2020-11-22T04:17:05","modified_gmt":"2020-11-22T02:17:05","slug":"blockchain-voting-system","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/03\/blockchain-voting-system.html","title":{"rendered":"Blockchain voting system: how to vote through the distributed ledger"},"content":{"rendered":"

Recently, a South Korean government used a technology developed by the\u00a0startup called Blocko<\/strong><\/a>\u00a0to set a blockchain voting<\/strong> system.<\/p>\n

The province of Gyeonggi-do decided to use the so-called Blocko’s Coinstack<\/strong> platform to set a blockchain voting system to make decisions on community projects as part of the Ddabok program.<\/p>\n

Through this program, citizens can propose their own ideas for aid; then the provincial government can decide to award budgets to fund the best and winning projects.<\/p>\n

A few months ago, the same process was conducted by officials in Gyeonggi-do, but holding a vote using traditional methods was too expensive.<\/p>\n

But now, thanks to the new partnership with Blocko, Gyeonggi-do organized a blockchain voting earlier this month. This vote was part of a bigger program to look for new alternative methods\u00a0for approving projects.<\/p>\n

Citizens submitted 9,000 votes<\/strong>, in both online and offline voting, selectioning more than 500 community aid projects.<\/p>\n

Blocko CEO Won Beom Kim<\/strong> commented:<\/p>\n

“We used blockchain and Lua based smart-contracts on our blockchain platform (and) Coinstack to create a dynamic voting process to solve this problem. In this process, offline voters, online voters, and professional representatives all contributed to a fair and deterministic result which resulted in the selection of 527 community projects.”<\/em><\/p><\/blockquote>\n

In a press release, the provincial government celebrated the use of the distributed ledger for the community vote and indicated that blockchain could be used more in the next future.<\/p>\n

“We can complement the limits of representative democracy with some direct democracy systems by using blockchains, the technology of the Fourth Industrial Revolution,”<\/em> said governor Nam Kyung-pil.<\/p>\n

This is not the first time South Korea uses the Blocko-provided technology.<\/p>\n

Also, back in November 2016, the Korea Exchange (KRX), a South Korean security exchange operator, hired Blocko to develop a smart contract with the main purpose of authenticating and verifying documents.<\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, a South Korean government used a technology developed by the\u00a0startup called Blocko\u00a0to set a blockchain voting system. The province of Gyeonggi-do decided to use the so-called Blocko’s Coinstack platform to set a blockchain voting system to make decisions on community projects as part of the Ddabok program. Through this program, citizens can propose their […]<\/p>\n","protected":false},"author":2,"featured_media":1648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"yoast_head":"\nBlockchain voting system: how to vote through the distributed ledger -<\/title>\n<meta name=\"description\" content=\"South Korea set a blockchain voting system together with the distributed ledger-based startup called Blocko. 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