Enterprise blockchain agency Iconloop has secured approval from South Korea’s Ministry of Science and ICT to check its decentralized identification
Enterprise blockchain agency Iconloop has secured approval from South Korea’s Ministry of Science and ICT to check its decentralized identification, or DID, expertise system to handle driver’s license knowledge within the nation.
In accordance with an announcement from the corporate, the trial run goals to showcase the DID’s capabilities in providing safe knowledge storage whereas stopping knowledge forgery.
Commenting on the challenge, Iconloop CEO Jonghyup Kim remarked that the corporate’s DID platform permits customers to higher handle their private data straight from the Zzeung cell phone app, as a substitute of utilizing bodily driver’s license playing cards. The app additionally reportedly provides customers larger management of their private knowledge.
Iconloop’s DID check is coming at a time when digital identification adoption amongst South Koreans is on the rise. In August 2020, experiences emerged that 1 million South Koreans already maintain blockchain driver’s licenses.
The deliberate check is one other government-backed use case for Iconloop’s blockchain-based DID expertise system in South Korea. Again in August 2020, it was revealed that Jeju Island directors have been utilizing DID for contact tracing as a part of the measures to fight the unfold of COVID-19 within the widespread vacationer vacation spot.
Other than authorities companies, non-public corporations reminiscent of SaraminHR — a recruitment agency in South Korea — are additionally reportedly utilizing the DID for authenticating the credentials of job candidates. As beforehand reported by Cointelegraph, Iconloop secured about $eight million in funding for its DID challenge.
Decentralized identification stays one of many often-touted use instances for blockchain adoption. Given the rising instances of identification theft and breaches of centralized databases, some consultants have argued for extra consideration towards blockchain-based identification administration techniques.
Other than driver’s licenses, different potential adoption instances for decentralized identification embrace banking, healthcare and the journey business. Certainly, advances in decentralized biometrics have allowed some international locations in Southeast Asia to start reviving their tourism sector amid the continued coronavirus pandemic.