The South Korean telecom big SK Telecom has introduced it is going to challenge its first digital pockets for blockchain-powered digital certificates storage and administration with the approval of the Ministry of Public Administration and Safety.
According to NewsTomato, SK’s Pockets is appropriate with the ministry’s personal Authorities24 digital certificates initiative, which promotes the usage of digital certificates issuance and distribution methods in South Korea within the wake of the COVID-19 pandemic.
SK Telecom’s digitalized public certificates embody copies of resident registration playing cards, medical health insurance qualification certificates, immigration certificates, amongst different paperwork beforehand issued on paper and signed by hand. They are going to be now issued by a cellular app backed by blockchain technology.
Certificates issued by the Authorities24 app could be obtained within the SK’s pockets and later submitted to public entities, monetary establishments, and personal corporations as digital paperwork.
Within the preliminary stage, 13 forms of certificates can be appropriate with the pockets, however on the finish of the yr, SK Telecom plans to make it appropriate with “a complete of 100 varieties” of certificates, together with tax-related paperwork.
Oh Se-hyun, head of SK Telecom’s Blockchain & Certification Enterprise Division, argued that blockchain is a vital know-how in a society that’s “quickly altering as a result of want for non-face-to-face options the place we’d like innovation within the technique of submitting and processing certificates centered on paper paperwork and handbook work.”
He additionally highlighted the safety benefits that the know-how may deliver to such processes.
Just lately, it was revealed that a million South Koreans have foregone their bodily drivers licenses in favor of a blockchain-powered digital alternative used at the side of the PASS smartphone app.
This represents greater than 3% of your complete driving inhabitants in South Korea, which sat at 32.6 million licensed drivers in 2019 in response to Statista.