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Briefing
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- ID Authentication/Certification Blockchain – Samsung and six other South Korean companies collaborating to develop blockchain-based mobile certification and ID authentication system
- Self-Sovereign Identity – Enables user to verify identity or qualifications (e.g. degrees and certifications), as well as control what information to share to companies, from smartphone app
- Partners – Include mobile carriers SK Telecom, LG Yuplus and KT; banks KEB Han and Woori Bank; and government-founded securities infrastructure provider Koscom, which will operate as network nodes using their own servers
- Applications – Include university certification, unlisted stocks platform, career recruitment, user authentication, healthcare and insurance certification, club memberships, notarization, proof of content and online logins
- Trial and Commercialization – System will undergo beta test by end of 2019 with partners deciding whether to commercialize offering in 2020
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Accelerator
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Education, Financial Services, Information Technology, Telecommunications
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Function
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Customer Experience and Service, Human Resources, IT Infrastructure
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Organization
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Hana Financial Group, KT Corp., Koscom Corp., LG Corp., SK Telecom Co. Ltd., Samsung, Woori Bank
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Source
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Original Publication Date
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July 14, 2019
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