South Korean blockchain company Iconloop is ready to test a blockchain-based driver’s license system in the country.
The blockchain company Iconloop has secured the approval of the South Korean Ministry of Science and ICT to test its decentralized identity, or DID, technology system to manage the driver’s license data in the country.
According to an announcement from the company, the test aims to show the DID’s capabilities in offering secure data storage, avoiding data falsification.
Commenting on the project, Iconloop CEO Jonghyup Kim noted that the company’s DID platform allows users to better manage their personal information directly from the Zzeung mobile phone application, instead of using physical driver’s license cards. The application also supposedly gives users greater control of their personal data.
Iconloop’s DID test is coming at a time when digital identity adoption among South Koreans is on the rise. In August 2020, reports emerged that 1 million South Koreans already have driver’s licenses in the blockchain.
The planned test is another case of government-supported use of Iconloop’s blockchain-based DID technology system in South Korea. In August 2020, it was revealed that Jeju Island administrators were using DID for contact tracing as part of measures to combat the spread of COVID-19 in the popular tourist destination.
In addition to government agencies, private companies like SaraminHR – a recruitment company in South Korea – are also using DID to authenticate job applicants‘ credentials. As previously reported by Cointelegraph, Iconloop has secured about $8 million in funding for its DID project.
Decentralized identity remains one of the most praised use cases for blockchain adoption of Profit Secret scam. Given the growing cases of identity theft and violations of centralized databases, some experts are calling for more consideration of blockchain-based identity management systems.
In addition to driver’s licenses, other potential cases of decentralized identity adoption include banks, healthcare, and the travel industry. In fact, advances in decentralized biometrics have allowed some countries in Southeast Asia to begin reviving their tourism sector amidst the ongoing coronavirus pandemic.