Blockchain network for identification of people

2019: Announcement

In the middle of July, 2019 the technology, telecommunication companies and banks, largest in South Korea, created consortium for creation new a blockchain network as a basis for new service of mobile authentication. Consortium members of steel of Samsung Electronics, local telecom operators of SK Telecom, KT and LG Uplus, KEB Hana Bank and Woori Bank and also Koscom (IT service provider for the Korean exchange).

The companies, largest in South Korea, create a blockchain network for instant identification of people

Seven companies stated that new service of mobile authentication will allow consumers to protect the data and also it is safe to store information on smartphones. The new service will be applied first of all to distribution and issue of certificates about the termination of college. It will allow graduates to simplify process of employment as they will only need to provide the authenticated certificate on the smartphone, and the companies will be able to check documents through a blockchain network.

The consortium will also use a blockchain network for verification of other documents at acceptance of specialists for work in SK Telecom, KT and LG Uplus. The consortium is also going to attract as much as possible companies in the blockchain network that it could be used for hospital and insurance services and also for registration in entertaining actions.

The South Korean technology companies not for the first time became interested in blockchain technologies. The Samsung company submitted the cryptocurrency wallet on Galaxy S10 which is released earlier in 2019. Meanwhile KT uses a blockchain in the commercial network and suggests clients to use it for security. In turn LG CNS applies the Monchain blockchain platform to tracking of food which come to school cafeterias.^[1]

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