South Korea's NH Bank and SK Telecom launch blockchain “mobile employee ID”, decentralized ID has become the general trend

According to JoongAng Ilbo, yesterday, the NH Bank of Korea launched a "mobile employee ID" based on blockchain technology. The report states that this is the first commercial application of distributed identity technology developed by the "Initial DID Association."


Source: Pixabay

The association is a decentralized identity alliance led by the Ministry of Science and Information and Communication Technology of Korea and the Korean Internet and Security Agency (KISA). LG, SK Telecom, and Samsung Electronics formed the alliance. Since then, several other telecommunications companies and commercial banks (including NH Bank) have joined the alliance.

The alliance aims to introduce self-sovereign identity, allowing users to control their own data, including personal information and eligibility.

Ledger Insights had previously reported on the launch of the association's blockchain platform, which examined the potential of employees to use mobile phones instead of ID cards. It has developed a mobile application where users can upload certificates and other details. Participating organizations have assigned QR codes, and users can scan QR codes to publish and submit documents.

According to a recent report, this "mobile employee ID" was jointly implemented by NH Bank and SK Telecom, with technical support developed by the association. Using this mobile app, in the initial deployment, 20 NH employees applied for and received virtual ID cards through their mobile phones. They can use the application to enter the office. The company plans to expand this mobile ID feature to set up meetings and include simple payment features, such as buying food at a cafeteria.

Other well-known members of the alliance include Hyundai Card, BC Card, Shinhan Bank, LG Uplus, KT, Samsung Electronics, KEB Hana Bank, Woori Bank, CJ Olive Networks and Koscom.

This is not the only effort to use decentralized identity in South Korea. The non-profit Korea Financial Telecommunications and Clearing House (KTFC) has launched a blockchain digital ID for financial services. These IDs are designed to be interoperable between service providers, and about 30 companies have signed agreements to use the service.

ICONLOOP is another initiative in South Korea, which launched the DID service "my-ID". Last year, it raised about $ 8 million in Series A funding.

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