South Korean telecom giant SK Telecom announced that it will release its first digital wallet for storing and managing blockchain-based digital certificates, with the approval of the Ministry of Public Administration and Security.
According to NewsTomato, the SK wallet aligns with the Ministry’s Government24 digital certification initiative, which is promoting the use of electronic certification systems in South Korea after the COVID-19 pandemic.
SK Telecom digital government certificates include copies of resident registration cards, health insurance qualification certificates, immigration certificates, and other documents previously issued on paper and signed manually. It will now be released via a blockchain-powered mobile app.
Certificates issued through the Government24 app can be retrieved into the SK wallet, and then sent to government institutions, financial institutions and private companies as electronic documents.
Initially, there will be 13 types of certificates that are compatible with the wallet, but by the end of the year SK Telecom plans to have it compliant with “only 100 types” of certificates, including tax documents.
Oh Se Hyun, Head of Blockchain and Certification at SK Telecom, stated that blockchain is an important technology in a society that “is changing rapidly due to the need for non-face-to-face solutions when we need to innovate in the process. Presenting and processing certificates related to paper documents and handicrafts.”
He also highlighted the security benefits that technology can provide for such operations.
It was recently revealed that one million South Koreans have given up their physical driver’s licenses in favor of a blockchain-based digital alternative used alongside the PASS smartphone app.
This represents more than 3% of all drivers in South Korea, who, according to Statista, provided 32.6 million licensed drivers in 2019.