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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.
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