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- South Korean Government planned to provide blockchain-powered digital alternatives in transition for the traditional card, which can be accessed through the smartphone app “PASS”
- People of South Korea can use this authorized card as proof-of-age requirements as well as identification at places like convenience stores and retail chains selling alcohol
- KEB Hana Bank, one of the biggest commercial banks in South Korea has partnered with the Korea Expressway Corporation for a blockchain-based toll system
In a unique step, the South Korean Government has decided to expand the scope of using blockchain into creating drivers licenses as well. So now one can trade his/her respective traditional license card for a blockchain-powered digital card. With the green signal to the blockchain-based driver’s license, it will be the first authorized digital identification card to be used throughout South Korea.
Digital driver’s License
The government planned to provide blockchain-powered digital alternatives in transition for the traditional card, which can be accessed through the smartphone app “PASS”. In May, the National Police Agency launched this Project in collaboration with Korean Road Traffic Authority and the country’s three major telecommunication providers namely SK, Kt, LG U+. This project introduces an authorised digital identification card to be used throughout South Korea and obtained approval by the nation’s Ministry of Science and ICT last September.
People of South Korea can use this authorized card as proof-of-age requirements as well as identification at places like convenience stores and retail chains selling alcohol. They can even show their license through barcode or QR code on the app. Keeping Non-Korean residents in view, the government will be providing English version of the licenses as well.
Strengthening The Sector with Blockchain Technology
Over the few months, the South Korean government unveiled many projects to promote the digitization of the transport sector. Recently,KEB Hana Bank, one of the biggest commercial banks in South Korea has partnered with the Korea Expressway Corporation for a blockchain-based toll system. The system will connect KEB Hana’s smartphone banking app, Hana One Q, for motorists to arrange their toll payments, postpone them.
Apart from South Korea, the Australian Government announced the trial of Ethereum-based digital licenses to replace physical ones. A Chinese state-run company is looking to implement the idea of ID verification.
In this coming post-pandemic era, the nation’s goal of South Korea is to promote digitization of all industries. In March, the South Korean National Assembly passed legislation which provides a framework for the regulation and legalization of cryptocurrencies and crypto exchanges. It is unveiled that the government planned to invest over $4.82 billion in Blockchain and other industry 4.0 technologies by 2025. Restricted by limited options in the fields, Korean people welcomed this initiative believing that it brings revolutionary changes in their lives.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
