The World Wide Web Consortium (W3C) has approved DID (Decentralized ID) as a new web standard.
The World Wide Web Consortium (W3C) has approved DID (Decentralized ID) as a new web standard. It is the first identifier the W3C has adopted as a standard since the URL.
With this DID 1.0 recommendation, we expect DID to become a default building block not only across the DID and identity verification market but in the many Web 3.0-oriented services being built in Korea and abroad.
ICONLOOP will keep working to deliver real, practical value from DID technology, and to build a world where individuals fully own their own data.
Director's Decision on DID 1.0 Proposed Recommendation Formal Objections
- ICONLOOP's DID track record
- ■ Nov 2018: First in Korea to register a DID-related entry in the W3C Method Registry
- ■ Jun 2019: MyID designated an Innovative Financial Service by the Financial Services Commission (FSC), granting it financial regulatory sandbox status
- ■ Jul 2019: Launched DPASS, a blockchain identity verification (DID) service
- ■ Nov 2019: Lead organization of the MyID Alliance, Korea's largest DID consortium with roughly 86 partner companies
- ■ Apr 2020: MyID passed the Financial Security Institute's security review
- ■ Apr 2020: Took part in drafting the Decentralized ID standard led by the Financial Security Institute
- ■ Jun 2020: Joined the Financial Authentication TF hosted by the FSC
- ■ Jun 2020: Took part in the 2020 Blockchain Technology and Industry Policy Forum hosted by the Ministry of Science and ICT (MSIT)
- ■ Jul 2020: Joined the public-private DID consortium led by the Korea Internet & Security Agency (KISA)
- ■ Aug 2020: Launched Zzeung, a DID identity verification service built on MyID
- ■ Aug 2020: Issued the first DID in Korea's financial sector, together with Shinhan Bank
- ■ Nov 2020: Applied DID through Zzeung to Gangwon Province's blockchain-based integrated chronic disease management platform
- ■ Nov 2020: Applied blockchain DID technology to NUGU Smart Home, SK Telecom's IoT smart home service
- ■ Dec 2020: Issued DIDs for Jeju Safe Code, Jeju's tourism quarantine system
- ■ Dec 2020: MyID's Innovative Financial Service designation extended by two years
- ■ Dec 2020: Zzeung mobile driver's license service granted temporary approval under the ICT regulatory sandbox
- ■ Jan 2021: Issued blockchain-based Seoul Citizen Reporter credentials and linked them to Zzeung
- ■ Mar 2021: Deployed a MyID platform-based access control system at Orange Life's headquarters
- ■ May 2021: Applied DID technology to Nayana, Gangwon Province's integrated digital service platform
Further reading
An explainer on DID technology
DID (Decentralized Identifier): the credential technology of the digital economy, built to make self-sovereign identity real
The shift to a digital economy — digital transformation — is accelerating fast, and we are all living through it. In a digital economy, alongside the social and economic interactions between economic actors, the kinds of credentials that prove who each actor is become far more varied than in the traditional economy, and that calls for a much higher level of mutual trust. For a long time, platform companies gathered users by offering convenient services, built ecosystems around them and created the conditions for their own growth. But as platforms grew ever larger...
www.iconloop.com
Coverage of the W3C DID web standard approval
Does the W3C Still Believe in Berners-Lee's Vision of Decentralization?
The W3C is facing a critical decision about the future of the Web that may come down to a vote on how much decentralization really matters.
www.evernym.com