South Korea OKs Blockchain Certification Usage in People, Private Sectors

Resource: Adobe / Cooperr

The South Korean federal government will enable the use of blockchain-based social certifications from December this year.

According to Hanguk Ilbo and UPI News, Seoul mentions changes to the country's existing electronic signature law that will allow businesses and people to use blockchain-based certifications so that services can use those certifications in their own negotiations.

Existing laws allow some social organizations to create blockchain-based certifications with minimal usage. However, the brand new guidelines will expand their use in the general public industry and open them all up to the business sector.

The Federal Government is actually participating in a large, decentralized I.D. operated by the blockchain. (DID) system hard drive. Many of the country's most important office banking companies, telecommunications providers and also mobile phone manufacturers such as Samsung and LG are actually participating in the project. The brand new change will help create a legitimate platform for the DID entity.

In addition, existing blockchain certification websites use ActiveX commands – a simple fact that typically requires customers to download and install a number of additional software application extensions.

For many customers, this could be a much too slow and also lengthy process. The brand new changes along with the ActiveX download requirements will be dropped – and will also speed up the process.

The exact same guidelines also provide for biometric certifications and also form part of the federal government's larger plan to increase the contactless, digitized paperwork to alleviate the monetary aftermath of the coronavirus pandemic.

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