Hello ICONists! It’s the second March Biweekly update on ICON Foundation!

We’re going to start this report with the most exciting news!

ICONLOOP is one of four finalists for the Blockchain Revolution Global Enterprise Blockchain Awards in the subcategory: Innovative Entrepreneurship in Blockchain — Technology & Platforms. What’s more, ICONLOOP added another 5 new companies to the MyID alliance: the Industrial Bank of Korea, P2P financial firm Funda, blockchain security solution Quantstamp, mobile pass solution MOCAsystem and the Korea Smart Clothing Association.

Most of the readers already know that Democracy Seoul implements ICONLOOP’s “loopchain” engine as part of Seoul Metropolitan Government’s “Blockchain CIty Seoul” project. The platform will use the blockchain module to record voting data on the blockchain in real time. It encourages citizen participation in the policymaking process by allowing them to suggest policies. ICONLOOP will continue to deliver the value of blockchain to mass adoption.

Furthermore, Korean-language blockchain news outlet BCNMedia takes a look at a new information system that collects and provides information on Seoul’s largest used car and automotive aftermarket district. The website for used car sales uses the Seoul Blockchain Platform, based on ICONLOOP’s blockchain engine “loopchain.” The Seoul Blockchain Platform prevents tampering of data entered into the website and improves trust in the system.

Earlier this month South Korea’s parliament passed a revision to the Financial Transactions Reporting Act (FTRA), a first step in bringing cryptocurrency into the national mainstream. The bill will go into effect from March 2021. This is a massive development for the ICON project as the foundation continues to build bridges between governments, companies and other enterprises interested in blockchain technology.

Moving on to another valuable news! ICON Foundation is changing its policy to allow ICONLOOP employees’ participation in the ICON project from RESTRICTED to LIMITED. ICONLOOP employees may apply to the following two programs: Employee Grant Participation Program and Employee P-Rep Participation Program. Previously, ICON Foundation and ICONLOOP agreed to restrict ICONLOOP employees from applying for grants and running for P-Reps. Now, ICONLOOP employees will be allowed pending the approval of their respective grant and contribution proposals by both ICONLOOP executives and the ICON Foundation.

Unfortunately, the ICON team had to limit business activities and are working remotely now due to ‘Coronavirus’ which continues to spread across the globe. The team’s primary concern is the safety and health of the members.

Last but not least! P-Rep Governance Meeting #3 is a wrap! More participants joined in this time. The ICON core team thank everyone for the participation and encourage them to make more contributions to the ICON ecosystem.

More news to follow!

Read on and stay tuned!