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ICONLOOP to Develop Blockchain-Based Mobile Driver's License in South Korea – Bankless Times banklesstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from banklesstimes.com Daily Mail and Mail on Sunday newspapers.
Last Updated: 01 January 2021 ICONLOOP, “Korea’s leading enterprise blockchain technology company,” is working on a mobile driver’s license built on blockchain technology, according to a press release from the group. This will be developed under a regulatory sandbox, the release notes. This will allow it to “test its Decentralized Identity (DID) technology on mobile driver’s licenses with the goal of better preventing forgery and protecting personal data.” Speaking on the matter is Jonghyup Kim, CEO of ICONLOOP, who said: “ICONLOOP emphasizes the self-sovereignty of personal data. The authentication processes that previously existed offline in the form of physical cards are now online via mobile apps like Zzeung, making it possible for users to manage their own authenticated information. We are happy to work closely with regulators in South Korea to support efforts to responsibly manage and protect citizens’ personal data throu ....
[December 31, 2020] ICONLOOP to Develop Blockchain-Based Mobile Driver s License Under Regulatory Sandbox Approval in South Korea SEOUL, SOUTH KOREA , Dec. 31, 2020 (GLOBE NEWSWIRE) Koreaâs leading enterprise blockchain technology company, ICONLOOP (https://www.iconloop.com/en/), today announced it is developing a blockchain-based mobile drivers license under regulatory sandbox approval in South Korea. South Koreaâs Ministry of Science and ICT granted ICONLOOP permission to test its Decentralized Identity (DID) technology on mobile driverâs licenses with the goal of better preventing forgery and protecting personal data. In todayâs centralized system, driverâs license information is stored on a single server, leaving it vulnerable to leaks or attacks. ICONLOOPâs pioneering Decentralized Identity technology solves this, allowing people to directly manage their own data by storing authenticated personal information on their mobile devi ....