South Korea’s Political Group Liberty Korea Party (LKP) to Use Blockhain for Four Major Areas
On January 31, 2019, It was announced that Liberty Korea Party (LKP), the second-largest political party in South Korea would be making use of blockchain in about four areas of their various processes.
Currently, the LKP has about 3 million members are holds over a third of the seats at the 20th National Assembly in South Korea. Their reason for embracing blockchain is to make their process more transparent and embrace the digital age by building “a new system in which citizens and members of the party can participate in a revolutionary way.”
The Four Areas
The Liberty Korea Party intends to use blockchain in four major areas of operations. The first is to efficiently record the results of central and local parties’ assembles and make the information freely accessible.
The second area is to record indicators of members activities. This will allow the party to determine how efficiently members are operating and in what areas there is the most progress. There is also mention of a possible token system for members though no details are available for now.
The third area is for the purpose of voting. The blockchain system in place will allow voting to take place anonymously online and will also allow the tabulation and announcement of results to take place efficiently and securely. This is one of the most controversial aspects of politics and the use of blockchain essentially makes rigging and miscalculation impossible as well as making sure that voter identity is protected.
This won’t be the first time blockchain is used for voting in South Korea as in November 2018, the South Korean Ministry of Science and ICT and the National Election Commission announced that they would be exploring blockchain for online voting purposes.
The fourth aspect is the petition system. Because of the often volatile nature of politics, many members of political parties might be reluctant to voice their opinions on various matters. However, with blockchain, they can remain anonymous. An example of this can be seen in China where activists are circumventing censorship laws by publishing their opinions on blockchains.
South Korea and Blockchain
South Korea has a somewhat complicated relationship with blockchain. A number of cryptocurrency firms are based in the country but there is a current ban on Initial Coin Offerings (ICOs).
This is in sharp contrast to the country’s obvious embracing of blockchain at a government level and draws parallels to China who have banned cryptocurrency altogether but make use of blockchain.