LG CNS is pushing for development of ID cards that can be used anywhere in the world with a global company in the field of Decentralized Identity (DID).
LG CNS made an announcement on May 26 that it signed a memorandum of understanding (MOU) with Canada's "Evemym," which specializes in blockchain-based DID technology services, to establish global standards for DID.
DID is a new technology that proves an individual's identity with blockchain technology, and services of various institutions can be used without additional certification as a single identity.
It is receiving spotlight as a technology that implements 'My Data' in accordance with the Enforcement Decree of the Data 3 Act and replaces recently abolished public certificates.
Evemym founded the Sovrin Foundation, an alliance of DID technology companies, and is leading the establishment of standards at the World Wide Web Consortium (W3C), which sets global standards for DIDs.
With the development of DID technology, there is also growing interest in new concept identification cards that can prove their identity in any country in the world. To realize this, however, a unified DID standard is essential.
Through this MOU, LG CNS and Evemym agreed to actively cooperate in contributing to the establishment of DID standards for W3C and establishing a business foundation for global identity certification. Through this process, they are planning to implement a new authentication system that will replace international driver's licenses and passports with blockchain technology.
They will also actively cooperate in the development of blockchain-based DID solutions and business models. For example, if DID is assigned to various products, it can be used in various fields such as checking all logistics and repair history easily. First of all, they plan to explore innovative business models based on the diverse businesses of LG Group.
"We will work with Evemym to create DID solutions and service models that can be used globally," said Kim Hong-geun, LG CNS CTO. "We will actively participate in related public projects to help Korea lead the global standardization of DIDs."
