Developing blockchain technology for the data economy… Promotion of 4 strategic tasks
The Information and Communication Planning and Assessment Service (IITP) is actively promoting the’blockchain technology development project for data economy’ this year.
On the 11th, the Ministry of Science and Technology and Information and Communication held an online blockchain business integration briefing session in 2021 with the Korea Internet & Security Agency (KISA), the Information and Communication Industry Promotion Agency (NIPA), and the Information and Communication Planning and Evaluation Agency (IITP). .
On this day, the ICT Planning and Evaluation Agency (IITP), which is in charge of the’blockchain technology development project for the data economy’, announced a new task and project planning status of information and communication broadcasting technology development and standardization this year.
Data economy refers to an economy that creates new value by using data as a catalyst for the development of various industries. This project is being promoted for the first time this year, and aims to strengthen the blockchain technology ecosystem by securing next-generation source technologies and industrialization convergence technologies.
Earlier, the government made investments in core technologies and specialized application platforms for highly reliable blockchains required by domestic companies to overcome the limitations of blockchain. In addition, a preliminary feasibility study was conducted for a new project of blockchain technology development.
As the data economy transition occurred faster than expected after Corona 19, the need to resolve the dependence on overseas technology development has been raised through discovery of major technology application fields, selection of strategic tasks, planning of new tasks, and long-term research and development.
Accordingly, the government re-established the new task of blockchain technology development in two years, and divided the scope of technology development into △system △distributed ledger △linkage △data △services to promote blockchain technology development business in earnest. do.
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The strategic areas of this year’s blockchain technology development project are △decentralized high-performance consensus technology, △smart contract security technology, △blockchain technology for personal information processing and identity management, and △blockchain data management technology that guarantees data sovereignty. It is progressed as part of a blockchain technology development project for data economy that passed a preliminary feasibility study in June of last year.
In the development of decentralized high-performance consensus technology, support for high-performance, high-efficiency consensus technology is expanded to overcome the problem of scalability inferior as the number of blockchain participants increases for decentralization.
The detailed tasks are △Development of technology that constitutes a decentralized consensus △Development of technology that guarantees finality for efficient transaction confirmation in block units at large nodes △Development of technology to ensure high performance/large-capacity transaction scalability △ Optimal path for message delivery and agreement between nodes Network protocol technology development is promoted.
Reinforcement of smart contract security technology is also underway. Due to the nature of execution of pre-written contracts, we plan to strengthen security technologies that can be used safely by reducing damage from malicious intent. As a detailed task, △Develop technology to improve the full-cycle weaknesses and reliability errors of development-distribution-execution of smart contracts.
In the blockchain technology for personal information processing and identity management, the privacy protection technology for personal information protection on the blockchain is fostered. The detailed task is △Development of user identity authentication and management technology for the use of self-sovereign identity △ Development of privacy protection technology based on block chain data encryption.
In the blockchain data management technology that guarantees data sovereignty, we promote the development of a blockchain data management technology that guarantees data sovereignty through distributed storage and high-speed analysis of large amounts of data using the blockchain. The detailed tasks are △Development of high-scalability distributed storage technology for large-scale and large-capacity data to increase the usability of various industrial fields △Development of high-speed analysis technology for large-scale distributed data storage.
A total of 9 tasks are expected to be carried out for 5 years in a way that evaluation is conducted after each of them is performed for two years, and then for another three years. Through this, the government plans to overcome the limitations of blockchain’s low performance, smart contract security vulnerabilities, and large-capacity data processing, and promote the use of blockchain in various industries.
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