11 South Korean Firms set to Launch Blockchain Based Identity Certification Service
South Korea, a developed country known for actively promoting the use of blockchain technology in various sectors like education, finance and many more. Now a consortium comprising of 11 major companies in South Korea is now commercially offering a Blockchain mobile identity certification service, named Initial.
The use of blockchain for issuing important Identification related certificates would ensure the safety of the personal data of users. The group was established late this fall and comprises of major tech firms like Samsung Electronics, and three other major telecommunication operators as well as few top tiers banks.
The consortium was created with a goal towards improvement of digital information services that are not just safe but also very easy to manage.
How Would new Blockchain-Based Identity Certification Service Work
The consortium would debut a mobile app in 2020, which customers can upload and download several certificates. The identity the customer will not be kept with any centralized body but on a blockchain, which would ensure that only the owner of the account can access their personal info.
The consortium is planning to offer at least 70 digital certificates via the mobile application. The use of blockchain for managing sensitive personal data has seen many use cases in recent times, and more countries are looking to implement similar use cases to protect the user's privacy.