Add as a preferred source on GoogleBusan opens Blockchain-based ID app
The city of Busan just launched a blockchain-based identification app that allows its citizens access to some of the government's services.
South Korea is outpacing other countries in harnessing blockchain technology to tackle real-world problems. Busan, the country’s second-largest city, just has launched an identification app backed by a public blockchain that allows citizens to access some government services.
Busan’s app was developed by Korean startup Coinplug under the city’s blockchain regulation-free zone, according to Coin Telegraph. The app runs using its own Decentralized Identifier technology and the Metadium blockchain.
The app only sends a cryptographic proof of a user’s identity to the blockchain while storing the actual user data on his or her own personal device. In this manner, the system is able to create records that are tamper-proof while still maintaining personal data privacy as there is no centralized server that contains users’ data.
The app’s launch is also well-timed as it allows its user access to a number of “non-face-to-face” government services in line with social distancing measures in place to help prevent COVID-19 transmissions.
At the moment, the app can be used with the Busan Citizen ID as well as with other smart-cards issued by the government. There is also a cryptocurrency wallet built into the app as part of Coinplug’s thrust of promoting crypto payments in the nation’s post offices.
Even before the arrival of blockchain technology into the scene, Busan has already been pushing for the digitalization of government services. According to a spokesperson from Coinplug, the city’s decision to go for a decentralized platform for its app is just part of its thrust toward technological innovation.
Aside from the recent Coinplug app, several blockchain initiatives already materialized under Busan’s regulatory sandbox. For example, the city launched a local cryptocurrency in December 2019 in a partnership with Korea’s largest telecom firm, KT. As part of its push to fintech development in the city, Busan also partnered with Hyundai Pay last year.
President Moon Jae-in has been supportive of blockchain as he believes that the technology could be perfect for use when it comes to personal data. The business sector has a positive toward the technology as well as LG is exploring into blockchain-based identification.
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