South Korea introduces digital certificates on the blockchain – Bits Media

The authorities of South Korea plan to introduce digital identification protected by blockchain in two years 45 Million citizens.

According to the authorities, introduction of digital identity certificates for citizens, Using smartphones, Simplifying online check, Having saved people from photographing certificates or codes. The head of the Korean digital technology regulator Su Bo (Suh bo ram) stated, that thanks to this program South Korea, as expected, will work for ten years 60 TRLN (No less $42 billion), What is equivalent 3% GDP of the country.

The official is sure, that an electronic identity card is one of the latest technologies, underlying the digital economy, which expands as it is, How more and more people work from home and make non -cash payments:

 “Each service, which could not completely go online, Now he can do it ".

Su Bo Ram claims, that the digital certificate integrated into the smartphone will not allow the government to access information, on a mobile phone. Since the system will fully rely on decentralized identification, no one can track the movements or activities of the owner of the mobile phone.

South Korea economists consider, that digital identification certificates can bring great benefits in the field of finance, healthcare, taxes, transport and quickly gain popularity among citizens of the country. And then they will serve as a trigger to accelerate economic growth.

This month, the chairman of the Commission on Financial Services of South Korea said, that the regulator will be
promote blockchain for various applications, but at the same time protect investors on crypto.