Copy link
Increase text size
Decrease text size
Link copied

South Korean consortium to provide blockchain-based ID services via mobile app in 2020

Fri, 06 Dec 2019, 11:17 am UTC

A blockchain consortium of South Korean companies has agreed to work towards the commercialization of blockchain-based mobile identification and certification services to enable users to handle their personal information in a secure manner, according to report published in The Korea Herald by Yonhap.

It can be recalled that Samsung Electronics, SK Telecom, KT, KEB Hana Bank, Woori Bank, LG Uplus, and KOSCOM teamed up in July this year to build a blockchain-based identification platform.

As per the report, the Initial DID Association was officially formed in October with the joining of Shinhan Bank, NH Nonghyup Bank, BC Card, and Hyundai Card. The consortium now counts a total of 11 member organizations.

The association plans to launch a mobile application, called ‘Initial,’ in 2020 to offer the decentralized identifier service to users, allowing them to control their digital identity and information without the need for centralized registries or certificate authorities.

By using the app, users will be able to easily download or upload certificates. The association said that it will leverage blockchain technology to protect the personal information and authenticity of digital documents of users.

“'Initial' allows you to select the certificate you want by connecting to the organization you want to issue and submit from the mobile electronic certificate app. It will also be equipped with the ability to issue and submit desired certificates using QR codes in each institution's web service,” according to a press release (via online translation).

The Initial DID Association said that around 70 digital certifications will be available for download on the app next year.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,678.58 (-4.69%)
  • Ethereum (ETH) $165.74 (-5.86%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $331.85 (-6.28%)
  • Bitcoin SV (BSV) $268.49 (+1.24%)
  • Bitcoin (BTC) $8,678.58 (-4.69%)
Jan 17, 2020 (Friday)
13:42
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:42
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:50
Crypto dealer SFOX announces new service for investors and wealth managers
11:10
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
10:09
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
10:08
Crypto exchange Gemini launches own insurance company "Nakamoto"
09:29
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
08:55
Huobi joins Blockchain Turkey Platform (BCTR)
08:21
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
07:38
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
07:01
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
07:01
U.S. lawmakers seek tax exemption for crypto transactions under $200
06:19
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
05:56
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
04:46
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
04:27
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
04:21
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
13:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:21
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft