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South Korea Revolutionizes Job Applications with Blockchain Digital Badge

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The government of South Korea has tapped blockchain technology to make the process of job applications easy for its people.

According to a local news report, the country’s Ministry of Science and ICT introduced “digital badges” powered by blockchain to revolutionize the job application process for the people of South Korea.

The Agreement
The initiative, announced on April 4, 2024, involves an agreement with government agencies like the Korea Internet and Security Agency (KISA), the Korea Employment Information Service, and the Human Resources Development Service of Korea.

The agreement aims to centralize employment-related information from various agencies into a unified digital badge service.

According to the report, participating agencies will work together to link, integrate, and verify job-seeker data, promote verified information in the private sector, and ensure system interoperability.

The rollout of the digital badge service simplifies job applications in the country by offering users the opportunity to compile their documents and academic achievements electronically without the stress of physically printing the documents.

Previously, job seekers in South Korea had to print out various certifications, transcripts, and course completion records from different institution websites to attach them to their applications. However, the digital badge service has removed this hurdle, eliminating the need for physical paperwork.

Lee Jong-ho, the Minister of Science and ICT, expressed the ministry’s commitment to supporting and ensuring that the blockchain-based digital badge service provides tangible convenience and efficiency for citizens engaged in job-seeking activities.

South Korea to Expand Digital Badge Services
Before introducing digital badges, the country’s Ministry of Science and ICT launched a pilot program on April 2, 2024, through the qualification examination site Qnet. During the trial, the ministry offered verification services for over 1,000 types of certificates.

The ministry said it plans to expand the system to include academic records, work experience, and training course completions in the future.

The planned expansion will allow job seekers to access and share all their credentials through a single web portal or mobile application.

Not the First
Meanwhile, South Korea has been making significant strides in the crypto sector since adopting blockchain technology.

Last month, the government announced plans to launch a crypto management system to track user information on digital asset trading platforms to ensure tax compliance. Managed by the South Korean National Tax Service (NTS), the tool is currently in development and will be launched next year.

In parallel, the city of Busan is undergoing a digital transformation by spearheading the development of a public blockchain in collaboration with local authorities. According to reports, the blockchain protocol will be compatible with popular layer 1 networks such as Ethereum.

The second-largest city in South Korea has earmarked 100 billion won, approximately $75 million, for this initiative, aiming to establish itself as a blockchain city.

Source: coinspeaker.com

The post South Korea Revolutionizes Job Applications with Blockchain Digital Badge appeared first on HIPTHER Alerts.

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Blockchain

Decentralized Finance (DeFi) Market to Surpass USD 446.43 Billion by 2031 | SkyQuest Technology

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Blockchain

Merging Traditions with Fintech and Blockchain Innovations

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Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations at MARE BALTICUM Gaming & TECH Summit

The financial industry is undergoing a seismic shift as fintech and blockchain technologies pave the way for unprecedented innovation and transformation. At the upcoming MARE BALTICUM Gaming & TECH Summit, a high-profile panel titled “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” will delve deep into this exciting evolution. This session will explore how established financial institutions are integrating these advanced technologies to revolutionize services, enhance security, and increase efficiency.

Moderator: Anna Agu

Leading the panel is Anna Agu, CEO and Managing Partner at Lex Law Office OU and Director at Lex Law Office LT UAB. With her extensive legal expertise in the fintech sector, Agu is perfectly positioned to guide the discussion, ensuring a thorough exploration of the delicate balance between maintaining traditional financial principles and embracing innovative technologies.

Panelists:

  • Merit Leib – Compliance Consultant at LEIB Regulatory & Compliance Risk Consulting
  • Astra Tikas – Founding Board Member of INO (Internet Native Organization)
  • Dr. Dean Rakic – Chief Scientist at Blockcontrol
  • Saulius Racevicius – Senior Associate of PSP Lab LLP and Board Member of the Fintech Hub LT
  • Evaldas Krampas – CEO at SpectroCoin and Head of Crypto Hub Lithuania

Why Attend?

The “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” panel at the MARE BALTICUM Gaming & TECH Summit is a must-attend for professionals across the financial sector. Here’s why:

  1. Gain Comprehensive Insights: Learn from top experts about the latest trends, challenges, and opportunities in fintech and blockchain.
  2. Regulatory Perspectives: Understand the importance of compliance and how to navigate regulatory challenges effectively.
  3. Technical Knowledge: Dive deep into the technical aspects of blockchain integration and learn about cutting-edge developments.
  4. Practical Implementation: Gain practical insights into how traditional financial institutions are successfully integrating new technologies.
  5. Networking Opportunities: Connect with industry leaders and peers who are driving innovation in finance.

Join Us

This panel provides a unique opportunity to stay ahead of the curve in the rapidly evolving financial landscape. Join us at the MARE BALTICUM Gaming & TECH Summit to explore how fintech and blockchain technologies are reshaping finance and what it means for the future. Engage with industry leaders, gain actionable insights, and network with peers at the forefront of financial innovation.

Secure your spot today and be part of this transformational journey. Don’t miss the chance to be involved in discussions that will shape the future of finance. See you at the MARE BALTICUM Gaming & TECH Summit!

The post Merging Traditions with Fintech and Blockchain Innovations appeared first on HIPTHER Alerts.

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North America B2C E-Commerce Market & Payment Innovation Trends Report 2024 – By 2025, Digital Wallets are Expected to Make Up Over a Quarter of Canada’s Online Payments

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