As a way of making its member activities more transparent, the Liberty Korea Party (LKP) has said in a January 31 announcement that it will integrate blockchain technology.
The party hopes that the decentralized nature of blockchain technology can help it achieve digital democracy and allow members to participate in the party’s decision-making process innovatively.
“The blockchain, which is regarded as one of the key technologies of the 4th industrial revolution, is a technology that enables users to share data and guarantee mutual trust,” the party release said.
The Liberty Korea Party is the second largest political party in South Korea, just behind the Democratic Party of Korea (DPK).
Four Key Areas LKP Wants To Integrate Blockchain
As per the release, the Liberty Korea Party plans to use blockchain technology for the following purposes:
- Recording of meeting results at both local and central party level
- Recording and analyzing party member’s key performance indicators (KPIs)
- A voting system that allows members to anonymously participate in party elections while also reducing the changes of manipulating results
- A petition system to secure comments submitted by party members
Although the release also mentions the chance of the Liberty Korea Party creating a token for its blockchain-based system, many details were not given about how this will be achieved.
The latest development follows earlier reports in November that South Korea would trial blockchain technology for national elections.
Affiliate: Get a Ledger Nano X for $119 So That Hackers Won't Steal Your Crypto!