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Blockchain ID ‘War’ in the Offing as S Korean Giants Prepare Rollouts

Blockchain ID ‘War’ in the Offing as S Korean Giants Prepare Rollouts

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South Koreans are prone to utterly eliminate plastic ID, social safety and driver’s license playing cards in favor of blockchain technology-powered digital options, per a brand new report – with among the largest firms within the land vying for a stake out there.

Per Fn Information, SK Telecom, KT and LG U+, the nation’s three largest cell carriers, have agreed a deal that may see them make use of the PASS driver’s license cell ID platform, the brainchild of the Nationwide Police Company and the Street Site visitors Authority.

The police drive states that 1.four million South Koreans have now begun to make use of the PASS platform, which permits customers to show their id utilizing the police’s blockchain community and scannable QR codes or barcodes.

The CU and GS25 comfort retailer chains have already begun accepting the PASS app as a proof of age in retailers nationwide. And final week, web large Naver and chat app operator Kakao additionally joined the platform, after being granted “momentary permission” beneath regulatory sandbox guidelines.

Nevertheless, the PASS app is merely the tip of the iceberg of what the media outlet dubbed a forthcoming “blockchain-based cell ID struggle” – to be waged by the nation’s largest tech corporations.

The media outlet mentioned that sensible usages are nonetheless few and much between, however added that South Korean firms seem sure that the uptake for blockchain-powered proof of id and blockchain-verified digital doc storage will probably be fast within the months forward.

Each Naver and Kakao – in addition to the cell producer Samsung – have been granted permission to work on their very own blockchain-powered ID choices earlier this yr. And all three have begun to associate up with personal sector corporations, government-run our bodies and universities in a bid to nook the market.

All three firms mentioned they may roll their very own options out this yr, with Samsung engaged on a rival driver’s license platform, Kakao taking a look at college {qualifications} options and Naver specializing in retail and finance-related enterprise fashions.

Numerous business banks are additionally actively pursuing blockchain-powered ID enterprise avenues.

The results of the “struggle,” famous FN Information “will probably be decided by who finds extra sensible purposes” for his or her options.
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Study extra:
This Authorities Company to Concern Employees with Blockchain IDs, Reward Tokens
Non-Financial Bitcoin Use Circumstances: Digital Energy Vegetation & Digital Identities

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