Korean banks plan to use blockchain to verify customer ID's

posted 5 months ago
A national banking group in South Korea plans to roll out a blockchain-based ID verification system for domestic commercial banks.

The new system, BankSign, will offer local banks an option to replace the existing ID verification system that has been in place for decades in South Korea.

The new blockchain ID service, which will be available for both online and mobile banking, marks one of the first efforts by commercial banks in South Korea to make blockchain applications available for general consumers.
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