Blockchain Firm Iconloop Plans To Test Blockchain-Based Driver’s License System In South Korea
Iconloop, an enterprise blockchain technology-centered company based in South Korea, intends to leverage blockchain technology for improving the mobile driving license system. And for this purpose, it is going to test a mobile driving licensing system based on blockchain in the country. The government of the country is also backing this project of the firm.
Testing The Capabilities Of Decentralized Identity (DID)
Basically, the firm is planning on testing its Decentralized Identity (DID) tech system for the management of the license data of mobile drivers in the country. It has been granted approval for the testing of this project by the Ministry of Science and ICT of South Korea, which means that it has now got the support of the country’s government as well.
While elaborating on this project further, the firm said in an announcement that the main aim of this project is to display the potentials of DID in ensuring the security of data storage.
The Decentralized Identity tech system of Iconloop is widely being used in South Korea by private companies including the country’s renowned recruitment company SaraminHR. In addition to these private firms, various government agencies are also leveraging the benefits of DID. Reportedly, all of them are utilizing Decentralized Identity on a purpose that is to ensure the authentication of the personal credentials or data provided by applicants for a job.
While shedding light on the DID project, the Chief Executive Officer (CEO) of Iconloop Jonghyup Kim said in a statement that their DID platform offers users a great advantage when it comes to handling their personal credentials or information as they can do that in a better way right from the mobile phone application of Zzeung. This negates the need to have driving license cards physically.
Potential Cases For The Adoption Of DID
Iconloop seems to be focused on the expansion of its DID tech system across the whole nation across different sectors. The travel industry, the healthcare sector, and the banking sector are some of the other strong potential cases for the adoption of DID in addition to driver’s license.
Just to let you know that the firm also raised, back in the month of October in 2019, an amount of $8 million in a funding round for its Decentralized Identity project.
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