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Thursday, October 20, 2022

Digital IDs in South Korea

 Risk and Security of use.  

South Korea Aims to Boost Economy with Digital IDs on Blockchain

Bloomberg, Sam Kim, October 16, 2022

South Korea intends to offer its citizens a blockchain-secured digital identity in order to improve economic growth. The nation will launch digital IDs in 2024, expecting 45 million citizens to be using them within two years. The IDs will be embedded into mobile devices like smartphones. Suh Bo Ram, director-general of South Korea's digital-government bureau, said a decentralized identity framework will prevent the government from accessing data on individual phones, including whose digital IDs are used, how they are used, and where. Hwang Seogwon at South Korea's Science and Technology Policy Institute said although digital IDs can be highly beneficial economically, "there has to be more risk assessment technologically to make sure the danger doesn't outweigh the benefits." ... ' 

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