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South Korea to issue blockchain-based digital COVID-19 vaccine passports.

South Korea is set to introduce a tax on digital currency transactions by 2022. Qualifying transactions will be subject to a tax rate of 20%.


According to the Reuters report, South Korea has announced to issue so-called COVID-19 vaccine passports to immunized citizens, joining other nations introducing such certificates to revive cross-border travel while keeping infection risks under control. South Korean Prime Minister Chung Sye-Kyun said a mobile app that would allow international travelers to show digital proof of vaccination would officially launch this month. The mobile app would be protected by blockchain technology.

 

‘Green Pass’ will allow vaccinated citizens to travel. 

“The introduction of a vaccine passport or ‘Green Pass’ will only allow those who have been vaccinated to experience the recovery to their daily lives,” Chung told a government meeting, adding the app uses blockchain technology to prevent counterfeit. The adoption of such vaccine passports has proved controversial in many countries. While China and a few other countries have already introduced these certificates and the European Union has bowed to pressure from tourism-dependent southern countries to do so, other countries have also faced strong opposition to the concept.

 

South Korea expands its vaccine rollout.

South Korea this week announced to expand its vaccine rollout, starting vaccinations of the general public aged 75 and older with the vaccine jointly developed by Pfizer and BioNTech. More than 86% of the 3.5 million people in that age group have said they plan to get the shot. Around 877,000 first doses of the vaccine had been administered as of Wednesday, the Korea Disease Control and Prevention Agency (KDCA) said. The KDCA reported 551 new cases on Wednesday, bringing the country’s total infections to 103,639, with 1,735 deaths. 

South Korea has also been at the forefront of regulating cryptocurrency. As reported earlier, the country is planning to implement a crypto tax starting next year.



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