Iconloop Acquires KR’s Support to Conduct Blockchain Driver’s License Plate Testing

Iconloop Acquires KR’s Support to Conduct Blockchain Driver’s License Plate Testing

Blockchain Crypto News News
January 10, 2021 by Elias Powell
20
Iconloop, an enterprise blockchain firm has recently made an announcement for South Korean citizens. It has confirmed that it has finally managed to acquire approval from the Ministry of Science, ICT, and Future Planning of South Korea. The approval has been acquired to carry out testing of the decentralized identity (DID) technology system. It has
Iconloop

Iconloop, an enterprise blockchain firm has recently made an announcement for South Korean citizens. It has confirmed that it has finally managed to acquire approval from the Ministry of Science, ICT, and Future Planning of South Korea.

The approval has been acquired to carry out testing of the decentralized identity (DID) technology system. It has been confirmed by Iconloop that it will be carrying out the testing for managing data for the divers’ licenses in the country.

For the past couple of decades, many cases surrounding driving licenses have emerged. One of the most prominent cases is related to the forgery of the driving licenses in South Korea. As per the company, it aims to showcase the capabilities and the capacity of the DID system in the issuance of driving licenses.

With technology and testing, the firm aims to demonstrate secure data storage that would prove to be beneficial in the prevention of forgery of data.

The CEO of Iconloop, Jonghyup Kim also talked about the capabilities of the new system that Iconloop will be initiating. Kim stated that once the new platform is established, it will allow users to access and manage their personal information with convenience. The users will be able to do it through the mobile phone application known as Zzeung.

With the launch of the project, the users will no longer be required to keep physical copies of the driving licenses. Instead, they will have access to their personal information for the driver’s license through the application. Apart from the driver’s license, the application will also provide users with more control over their personal data.

Iconloop has informed that this has proven to be the best time for the company is expanding its services in South Korea. With the crypto-blockchain gaining technological advancement and growth in the country, Iconloop will be able to gather enormous feedback from the KR community.

According to the statistics gathered back in August of 2020, more than 1 million citizens from South Korea already have driver’s licenses that are based on blockchain networks.

It has been revealed that this is not the first time the South Korean Government has backed Iconloop in the testing of the DID system. In the 3rd quarter of 2020, it was revealed that the administrators of Jeju Island had acquired Iconloop’s DID services to trace contacts. The administration’s usage of the technology was one of the measures it took to establish and combat the spread of coronavirus in popular tourist spots.

Apart from government-based organizations, private firms are also making use of the DID system in order to authenticate the details of the job applicants. The private recruitment firm based in South Korea known as SaraminHR is a firm that is making use of the DID system.