Kaohsiung City is looking to upgrade its industries with blockchain technology. That was the word from acting Kaohsiung Mayor Yeh Kuang-shih during seminar on the new technology Thursday.
Blockchain was first invented in 2008 as a public transfer ledger of the cryptocurrency bitcoin. The system keeps a secure list of records without requiring third-party intermediaries like a bank or government. The goal is to ensure secure transfers of money, property, and contracts.
Yeh said Thursday that blockchain technology can be applied in many industries. He said Kaohsiung is the second-most developed city in Taiwan, behind only Taipei, and that he hopes the new technology will help the city’s industries become more efficient.