The MyID Alliance and Korea Startup Forum will jointly host a seminar on digital IDs for startups at ICONLOOP’s office in Seoul on Jan. 29.
MyID advisory committee member Lee Gun Hee will present a keynote address on the future of blockchain and digital IDs. Participants will then hear three startup case studies: the global hotel booking and travel platform Yanolja, the corporate SNS service The Bom S and ICONLOOP.
Each of these case studies will examine how the startups solved problems they faced with existing ID systems and what they are doing to lead the age of digital IDs.
Finally, MyID Alliance Deputy Executive Director Josh Choi will discuss how MyID will bring innovation to the digital economy.
“Recently, blockchain-based digital ID has gone beyond the ID ecosystem of the past with IDs and password, certificates and social logins to gain notice as one of the talking points of our age,” says Choi. “Together with many startups, including the member companies of the Korea Startup Forum, the MyID Alliance plans to create and expand a digital ID ecosystem that can substantively solve the inconveniences faced by users.”
You can apply to attend here. The event is free for all.
Based on ICONLOOP’s innovative blockchain-based decentralized ID (DID) solution “my-ID,” the MyID Alliance is a partner network representing a wide range of big corporations, financial companies, startups and public institutions.
The recent additions of online recruiting platform Saramin, online shopping company GS Shop and data analysis company LIME Solution have brought the alliance to 44 participating entities.
That number is likely to grow, too, as social interest in DID grows. Korea’s top financial watchdog is moving to create a legal framework to support DIDs, while the latest list of state-led blockchain initiatives prominently includes several DID-related projects. Some media even speculate that DID could be the use case that finally brings blockchain into mainstream use.
The “my-ID” solution doesn’t just return to users sovereignty over their identifications and data. It’s also good for ICX holders, too. Or at least it will be.
ICON Foundation’s Ricky Dodds likens the situation of “my-ID” to that of Broof, where ICX is used for transaction fees. “However, My-ID must first connect to the ICON public blockchain,” he says. “When this happens, users on the public network that have a My-ID on the private network could essentially ‘sign in with My-ID’ to ICON apps. These log-ins will already be KYCed and compliant from the private blockchain network. When somebody uses this interoperability, there will be transaction fees on the network. Again, with more adoption we’ll have more transaction fees on ICON and therefore more burned ICX.”