South Korea and the World Bank have committed to expanding their partnership to enhance digital identification (ID) systems in developing countries, leveraging South Korea’s advanced K-DID system. This collaboration was discussed during a meeting in Seoul, where the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) and the World Bank explored ways to share South Korea’s technology and expertise.
The K-DID, launched in 2020, is a blockchain-based decentralized mobile ID system. It has been praised for its security measures against personal information leaks and identity theft.
The World Bank aims to provide reliable digital authentication services in developing nations, with several countries, including the Philippines, Indonesia, and Paraguay, expressing interest in adopting the South Korean system. KOMSCO is responsible for planning and implementing South Korea’s mobile ID projects, which began with public officer IDs and expanded to include driver’s licenses and veteran’s certifications, with plans to issue a mobile national ID for citizens aged 17 and above next year.
Both parties have agreed to issue a report on their digital ID utilization project in the latter half of this year, highlighting South Korea’s efforts to share its successful K-DID model with the international community.
The K-DID system utilizes a decentralized identity (DID) framework, which differs significantly from traditional, centralized ID systems. In a DID system, the control over personal information is returned to the individual, allowing them to manage and consent to the use of their data directly, rather than storing this sensitive information on a central server. This approach reduces the risk of massive data breaches and unauthorized access to personal information.
The adoption of blockchain technology in K-DID ensures that the system is tamper-evident and provides a transparent mechanism for verifying the authenticity of identities without exposing the actual data involved.
News of KOMSCO’s expanded partnership with the World Bank comes just a couple of weeks after the Korean company’s announcement of a digital ID partnership with the government of Costa Rica, also focused on the K-DID model.
Sources: The Korea Times, The Investor
–
April 4, 2024 – by Alex Perala
Follow Us