Iconloop secures gov backing to test blockchain driver’s license project

Enterprise blockchain firm Iconloop has secured approval from South Korea’s Ministry of Science and ICT to test its decentralized identity, or DID, technology system to manage driver’s license data in the country.

According to an announcement from the company, the trial run aims to showcase the DID’s capabilities in offering secure data storage while preventing data forgery.

Commenting on the project, Iconloop CEO Jonghyup Kim remarked that the company’s DID platform allows users to better manage their personal information straight from the Zzeung mobile phone app, instead of using physical driver’s license cards. The app also reportedly 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 hold blockchain driver’s licenses.

The planned test is another government-backed use case for Iconloop’s blockchain-based DID technology system in South Korea. Back in August 2020, it was revealed that Jeju Island administrators were using DID for contact tracing as part of the measures to combat the spread of COVID-19 in the popular tourist destination.

Apart from government agencies, private firms such as SaraminHR — a recruitment firm in South Korea — are also reportedly using the DID for authenticating the credentials of job applicants. As previously reported by Cointelegraph, Iconloop secured about $8 million in funding for its DID project.

Decentralized identity remains one of the often-touted use cases for blockchain adoption. Given the rising cases of identity theft and breaches of centralized databases, some experts have argued for more consideration toward blockchain-based identity management systems.

Apart from driver’s licenses, other potential adoption cases for decentralized identity include banking, healthcare and the travel industry. Indeed, advances in decentralized biometrics have allowed some countries in Southeast Asia to begin reviving their tourism sector amid the ongoing coronavirus pandemic.

Source: Read Full Article