SK Telecom, the South Korean digital giant, announced that it’s planning to issue its first blockchain wallet for crypto-powered virtual (digital) certificate management and storage. It has already sought and received approval from the Ministry of Public Administration and Security.
The ministry’s Government24 initiative encourages the utilization of electronic distribution mechanisms and certificate issuance in South Korea during the ongoing COVID-19 situation. The SK crypto wallet is certainly compliant with this initiative, as suggested by NewsTomato.
SK Telecom’s digital wallet can store digitized health insurance qualification certificates, resident registration card copies, immigration certificates, and other important documents which were earlier issued and signed on paper. The blockchain-powered mobile app will issue the above-mentioned certificates.
The Government24 app issues the digitized government documents, and they can be obtained in the SK Telecom wallet. It can later be submitted to public offices, private companies, and financial institutions as e-documents.
As many as 13 types of certificates will be compliant with the SK app in the starting stages. They plan to increase the number to up to 100 types of certificates at the end of the year. These will include tax-related documents as well.
Head of SK Telecom’s Blockchain and Certification Business Division, Oh Se-Hyun stated that blockchain technology is significant in a community that is changing rapidly. He argues that today’s society is constantly in need of virtual solutions. There’s a requirement of innovation in the “submitting and processing documents” procedure currently centered around manual work and paper documents.
He also mentioned that the technology could have several security advantages and bring transparency to the entire process as well.
A few months ago, it was reported that about a million South Koreans have moved on from their physical drivers’ licenses for a digital alternative that was backed by blockchain used in synergy with the smartphone app, PASS.
One million represents over 3% of the country’s total drivers, and such a move from a big chunk of the driving population in a country certainly speaks about the popularity of digitized certificates.