The latest from the MyID Alliance.
MyID has officially launched its app under the name Zzeung, and on the 26th it went live with Shinhan Bank on Zzeung Real-Name Verification, the first commercial DID identity verification service in Korea's financial sector.
Zzeung Real-Name Verification is currently applied as the identity verification method when users change their login option in Shinhan Bank's SOL app, and its use will keep expanding to a wider range of contactless financial transactions inside SOL. On top of that, Shinhan Financial Group affiliates Shinhan Investment Corp., Shinhan Card, Shinhan Life Insurance, Orange Life, and Jeju Bank have all joined the MyID Alliance at once, and are in talks to connect the Zzeung Real-Name Verification issued by Shinhan Bank to their own services.
Following Shinhan Bank, NH NongHyup Bank and IBK Industrial Bank of Korea have also confirmed their participation as issuers of Zzeung Real-Name Verification, and issuance will continue to broaden from here.
Meanwhile, with COVID-19 in the picture, local governments increasingly need a system that lets users check in at a venue easily without exposing their personal data. That led to the launch of a DID-based Jeju tourism disease-control service, which lets every tourist and resident in Jeju verify a visit at tourist attractions and restaurants by simply scanning a QR code with the Zzeung app.
The service is currently in a pilot test with public officials in Jeju Province, and will expand to the private sector starting in September. Since Jeju is one of Korea's flagship destinations with 15 million visitors a year, we expect the value of DID technology to reach a great many users and to serve as a strong springboard for expanding the service.
Building on the Jeju tourism disease-control pilot, other local governments that need easier and safer disease-control services are expected to consider adoption, and depending on each local government's circumstances and requirements, we anticipate the model expanding into forms such as tourism health verification or a local resident credential.
Zzeung, the MyID-based blockchain DID identity verification service, has only just taken its first steps — please keep an eye on it and cheer it on as it grows and expands.
The MyID Alliance
Introducing our new partners
Shinhan Financial Group affiliates Shinhan Investment Corp., Shinhan Card, Shinhan Life Insurance, Orange Life, and Jeju Bank have newly joined as Growth partners of the MyID Alliance, expanding the alliance to a coalition of 78 partners.
Zzeung Real-Name Verification, currently applied as the identity verification method when users change their login option in Shinhan Bank's SOL app, will keep expanding to a wider range of contactless financial transactions inside SOL. The newly joined partners — Shinhan Investment Corp., Shinhan Card, Shinhan Life Insurance, Orange Life, and Jeju Bank — are likewise in talks to connect the Zzeung Real-Name Verification issued by Shinhan Bank to their own services, and will work together to put MyID-based identity verification to use.
and delivers value to customers with advanced big data technology.
