ICONLOOP Wins Gyeongsangbuk-do Digital Identity Verification MyData Platform Project
- Simplifying identity verification with blockchain-based DID technology
- Applying PDS technology to store and use sensitive personal data securely
[Photo caption: The kickoff meeting for the Gyeongsangbuk-do digital identity verification MyData platform]
July 7, 2022, Seoul — ICONLOOP (CEO JH Kim), a leading Korean blockchain company, announced that it has won the project to build the Gyeongsangbuk-do digital identity verification MyData platform. The project aims to realize digital innovation in the provincial economy and administration by building an integrated service platform centered on resident needs using next-generation identity verification technology.
The Gyeongsangbuk-do digital identity verification MyData platform will provide tailored services drawing on accumulated data across welfare, administration, and identity verification, returning the benefits to residents as the data subjects — offering a MyData-based service in which residents can turn their own data into NFTs (non-fungible tokens) and trade them freely.
To that end, ICONLOOP attended the kickoff meeting for the platform, held on July 6 at the Dongnakgwan hall of the Gyeongsangbuk-do provincial office.
ICONLOOP plans to simplify identity verification through the issuance of provincial resident cards and youth cards using DID (Decentralized Identifier) technology built on loopchain, its own blockchain core engine, and to improve the security and convenience of personal data storage and management by implementing a remote subsidy payment system based on its in-house PDS (Personal Data Store) technology.
Through provincial resident cards and youth cards built on the DID identity verification platform, residents can conveniently check their eligibility for subsidies and apply remotely with ease. Beyond administrative services, the cards also support convenience features such as community functions and provincial communications, and are set to expand to QR check-in at public facilities and tourist sites.
ICONLOOP's PDS technology is also applied so that sensitive personal data can be stored and used securely when the Ministry of the Interior and Safety's public MyData is used to verify provincial resident cards. PDS is a secure store that encrypts an individual's sensitive data so that only the owner can unlock it, stores it separately, and lets the owner grant access to others as needed. Because the store itself cannot see the individual's data, and only people the user permits can access it for a permitted period, the technology is expected to extend even to the storage and distribution of personal medical information.
"Through this platform built with our blockchain technology, we will create an ecosystem in which residents — the subjects of their own information — can enjoy convenient and secure administrative services and control and manage that information themselves," said ICONLOOP CEO JH Kim.
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