South Korean blockchain payments for elderly coming soon

South Korean blockchain payments for elderly coming soon

South Korean blockchain payments aimed to help elderly citizens will be launched soon in Seongnam city. The payment system aims to bring blockchain technology to the country’s elderly population and create a contactless payment mechanism that helps the country’s senior population.

South Korea is a technologically advanced nation, and they are pioneer in blockchain-related solutions. Seongnam is well known for being abreast of the latest technological solutions that not only simplify life but add a digital flair to citizen lives.

These latest South Korean blockchain payments will enhance the elderly people’s lives via virtual gift certificates. It will bring digital financial education for the senior citizen population through contactless payments.

South Korean blockchain payments empower senior citizens

According to the latest news reports, the Seongnam city authorities will create a mobile application to serve senior citizens using a simplified payment mechanism. The South Korean blockchain payment will also be an initiative to bring senior citizens to on-board the blockchain revolution.

Seongnam has earned the reputation of a technologically advanced city with numerous firsts to its credit. Blockchain technology is at the center of this city’s numerous daily operations. Korea’s Minting and Security Printing Corporation is also a partner in the project. Chak mobile application will be used to access the gift certificates for payments without any QR code requirements.

More than 45,000 merchant partners are part of the project. Emphasis on mobile payments is central to the project’s success. Senior citizens will make payments via their current debit and credit cards.

Serving the non-tech-savvy population

Senior citizens, regardless of the country, are usually less aware of the fat-paced technological operations. Building trust among this non-tech savvy population will be critical to any country’s financial success. Bringing contactless payments through the South Korean blockchain payments app will also reduce elderly people’s outdoor mobility in COVID-19 times.

Seongnam blockchain system is not only a technological prowess but also a social need. Involvement of senior population into the tech march will bring uniformity to any country’s financial progress.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related News

Hot Stories

Dogecoin price analysis: DOGE/USD set to break above $0.1 soon?
Seth Green loses his 4 NFTs in a Phishing scam; begs not to buy them.
Do Kwon moves on LUNA`s revival plan despite 90% rejection votes
MiamiCoin and NewYorkCoin plummet over 85% despite Mayoral endorsements
Recession talks surge, Elon Musk predicts one lasting up to 18 months as crypto tanks

Follow Us

Industry News

TFL's legal team has left the company amid the LUNA crisis
Do Kwon moves on LUNA`s revival plan despite 90% rejection votes
Japan's banking giant Nomura set to launch crypto division
Leading Korean law firm to sue Do Kwon amid UST and LUNA ordeal
Recession talks surge, Elon Musk predicts one lasting up to 18 months as crypto tanks