Large-scale Korean companies such as Samsung and LG will jointly launch a blockchain-based mobile identification system

Large-scale Korean companies such as Samsung and LG will jointly launch a blockchain-based mobile identification system

According to a report by South Korea’s local English-language media, The Korea Times, on July 15, industry sources said on July 14 that a large group of companies consisting of three financial services companies, three mobile operators and a technology giant The company has formed a business partnership and will launch a blockchain-based mobile identification system in 2020.

These companies are financial services company Keb hana bank, Woori Bank, Korea Securities Information Corporation (Koscom), South Korea's largest mobile communications operator SK Telecom (Sk Telecom), Korea Telecom (KT), Korean mobile operators LG Uplus (formerly LG Telecom) and technology giant Samsung (Samsung).

The system will first be used in the issuance of university diplomas

According to reports, the service is designed to allow users to store personal information and use it at will, such as resident ID number and bank account number. The goal is to develop a self-sovereign identification system that does not require any intermediaries to enable individuals and organizations to grasp their identity information in online transactions.

It is understood that the new service will be applied first to the issuance of university diplomas. Graduates only need a certificate on their smartphone to streamline the job application process, and companies can validate documents through the blockchain network.

Graduates can get a new ID card in just three days, and it takes at least three weeks to get a diploma before it is the shortest.

The program also aims to expand the range of services expected, hoping to eliminate hiring violations through academic records and diploma certification, eliminate insurance fraud through treatment and compensation record certification, and even help users offset entertainment fares for amusement parks and movies. .

Participating companies have different divisions

The division of labor of participating companies is also different: the relevant financial services company's mission is to provide authoritative certification services, telecommunications companies to manage stable mobile services, and Samsung will ensure the safe management of stored data.

Among them, Samsung will use Samsung KNOX to manage data, which is an enterprise mobile security solution pre-installed on most of its smartphones, tablets and wearables.

In a joint statement issued, they said: "Because participants are the top leaders in their respective fields, the project may have the strongest synergies."

The joint statement also added that these companies have extensive experience. Financial services companies have provided the safest and most secure certification services to date; telecommunications companies have the potential to manage block mobile technology with stable mobile services; and Samsung Electronics is the global leader in the mobile technology industry. Enterprise, it will help ensure the secure management of stored data.

Hope to seek more partners

In fact, many of these joint ventures have already begun to explore the blockchain.

Earlier this year, Samsung installed a cryptocurrency wallet on its Galaxy S10; KT applied the blockchain to its commercial network and provided customers with blockchain-as-a-service to ensure security; LG CNS has been applying it The blockchain platform Monchain is designed to increase the transparency behind the food provided by the school cafeteria; Keb Hana Bank and the Korean University are working on a separate joint project to shorten the waiting time for issuing student ID cards with debit cards.

In addition, this large-scale corporate consortium intends to seek more partners, including large enterprises, universities, hospitals, insurance companies, entertainment facilities, resorts and country clubs, in order to deploy its developed systems to member services such as hospitals and leisure activities. .

Attempts to explore the combination of blockchain and identity have also begun in Japan. According to 31QU, the Japanese technology research company Fujitsu Labs developed a blockchain-based solution DID for evaluating user credentials, identity and credibility in online transactions. (Zone 31)