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South Korea: Samsung Integrates Blockchain-Based Identity So...
NEWS

South Korea: Samsung Integrates Blockchain-Based Identity Solution Into Blockchain Keystore

South Korean multinational conglomerate Samsung has integrated SK Telecom’s blockchain-based mobil identity solution into its Blockchain Keystore.

A Major Push for Blockchain Identities in South Korea

Yesterday, major South Korean telecom operator SK Telecom announced that it had integrated its distributed ledger technology-powered (DLT) mobile identity solution Pass with the Samsung Blockchain Keystore.

For the uninitiated, three of the largest Korean telecom operators, SK Telecom, KT, and LG Uplus had launched a blockchain-powered identity app dubbed “PASS” in June this year to enable Koreans store and authenticate their driving license data on a publicly accessible blockchain network. Earlier this month, the total number of subscribers on the platform crossed one million.

SK Telecom’s Blockchain/Certification Business Division Head, Se-Hyun Oh, said:

“‘Initial’ is a service that allows users to safely and conveniently verify their identity and qualifications online, and to manage personal information directly, and has been rapidly growing since COVID-19.”

Notably, Pass is a multi-utility app that can be used for various purposes, including the authentication of age without spilling personal details in the driver’s license. The app can also be used for the renewal of a driver’s license and is currently being used across 27 driving centers in South Korea. It is expected that by the end of the year the app will be rolled out for traffic stops with car rental firms showing more interest.

Samsung Openly Embraces Blockchain Technology

While regulators and government entities are fiddling with blockchain technology to integrate it into the daily economy, Samsung, on its part, is bringing the emerging technology and cryptocurrencies closer to everyone via its smartphones.

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Earlier this year, As  reported that Samsung’s flagship Galaxy S20 range of phones includes an improved security system that safeguard’s the user’s blockchain private key.

Similar, in October last year, Samsung successfully integrated decentralized web blockchain Tron (TRX) into the Blockchain Keystore to open the gates for Tron developers to build and launch their TRX-powered dApps to the nearly one billion Samsung smartphone users.

In a bid to make cryptocurrency trading an easy affair, Gemini Trust Co., the digital currency venture run by the Winklevoss brothers has joined forces with Samsung blockchain wallet. The alliance will allow the U.S. and Canada-based users of Samsung’s blockchain wallet to view their digital asset balances in their wallet app.

The integration between the two entities will make it easier for users wishing to trade digital currencies as they will no longer be required to go through another log-in to start buying and selling cryptocurrencies. Rather, they’ll be directly directed to Gemini’s mobile app.

The partnership addresses one of the major issues that has consistently been touted as a hindering force preventing the widespread adoption of cryptocurrencies – a smooth cryptocurrency trading user experience.

On a more recent note, As reported in May that Winklevoss brothers-backed Gemini cryptocurrency exchange had inked a partnership with Samsung to bring crypto trading to over four million users in the U.S. and Canada.

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