Consortium launches blockchain-based digital ID in S. Korea

Yonhap News Agency | Jul 13, 2019 at 11:00 PM
  • A group of major tech companies and financial institutions have joined hands to launch a blockchain-based digital identity platform available on smartphones to provide a trustworthy and secure solution, they said Sunday.
  • Samsung Electronics Co., three mobile carriers — SK Telecom Co., KT Corp. and LG Uplus Corp. — KEB Hana Bank, Woori Bank and Koscom, an IT subsidiary of the main stock exchange, signed an agreement to jointly develop a mobile application for the digital ID platform.
  • Current online certificates for sharing personal data and information with companies and digital platforms are vulnerable to cyberattacks and under fire for poor data management in the wake of hacking.