Consortium of Korea’s Major Tech Companies and Banks to Launch Mobile Digital Identity | BTCMANAGER
- Consortium of Korea’s Major Tech Companies and Banks to Launch Mobile Digital Identity
- A group of tech companies, telecoms, and major South Korean banks, led by Samsung, are launching a blockchain-powered digital identity platform to resolve a few critical vulnerabilities found in current online certificates used for sharing personal data, as per a press release .
- Samsung Electronics , SK Telecom, KT Corp, and LG Uplus along with banks like KEB Hana and Woori Bank make up this consortium and will pave the way for a more secure digital identity sharing process for South Korea.
- In the pilot phase, data stored on a user’s mobile will be used as proof of identity at major universities and trading platforms that facilitate the exchange of shares for unlisted startups.
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