CandleFocus

South Korea issues digital IDs secured by blockchain

Author: Content Editor
South Korea is testing a digital identity card that utilizes blockchain technology to enhance security. The digital ID will be tested in nine regions and will replace the national ID card system that has been in use since 1968. The South Korean government will rely on advanced encryption and blockchain technology to protect the digital IDs. The Ministry of Interior and Safety will also issue digital residence cards for foreign nationals residing in the country. South Korea joins other governments, such as Qatar and Afghanistan, in exploring digital identity solutions. In a separate news, Thailand's former Prime Minister, Thaksin Shinawatra, has called on the government to legalize digital assets and online gambling. Shinawatra believes that digital assets, like gambling, should be regulated but not banned, as they have the potential to bring significant economic benefits to Thailand. Thailand already has an advanced central bank digital currency (CBDC) system and is part of the mBridge pilot for cross-border payments.

Related News