Tech large Samsung Electronics is becoming a member of six different main South Korean corporations to develop a blockchain-based certificates and ID authentication community.
Introduced on Sunday and reported by CoinDesk Korea, the opposite founding corporations embody cell carriers SK Telecom, LG Yuplus and KT, two banks – KEB Han and Wooriand – and government-founded securities infrastructure supplier Koscom.
The service will present a “self-sovereign” authentication resolution that does away with middlemen companies and permits customers to confirm their identification or qualifications over a blockchain, maintaining extra management of their very own private data. People can retailer their knowledge on a wise machine and submit solely the information they select when certification is required.
Tech-wise, the deal will see the corporations develop the service based mostly round a consortium blockchain mannequin, with collaborating corporations working community nodes utilizing their very own servers.
The system will see a beta take a look at by the tip of 2019 and a choice on whether or not to commercialize the providing will probably be made within the subsequent yr, the report says.
Initially, the service will probably be utilized to the issuance and distribution of commencement and different certificates from main universities in Korea, in addition to to Koscom’s platform for unlisted startup shares.
A plan is being thought-about for the three telcos to make use of the system for his or her profession recruitment course of.
Cellular ID certification is anticipated to simplify the issuance and submission of assorted certificates and assist corporations make sure the digital haven’t been falsified – all in actual time.
Finally, the corporations indicated they could develop the service to different areas by encouraging extra corporations to take part, with potential use instances throughout digital signatures, consumer authentication for telecom and banking, healthcare and insurance coverage certification, and membership memberships.
Notarization, proof of content material and on-line logins had been additionally listed as potential areas that may very well be addressed by the community.
At a signing of a three way partnership settlement in Seoul on July 12, one of many members stated (through casual translation):
“The collaborating corporations plan to determine a method in order that the cell digital certification can be utilized in numerous industrial fields, and plan the operation in order that it turns into a service that creates social worth in the long run.”
Samsung picture through Shutterstock; signing ceremony picture courtesy of the businesses