SK Telecom, a telecom giant from South Korea recently issued a blockchain wallet solution that will help in the storage and management of government certificates.
First digital wallet for public services
The SK Telecom digital wallet is designed for blockchain-powered digital certificate storage and management solution. It has also received approval from the Ministry of Public Administration and Security. Local news website NewsTomato said that the SK Wallet will be compatible with the South Korean authorities’ Government24 digital certificate initiative. It promotes the use of electronic certificate issuance and distribution systems in South Korea in the post-COVID-19 world.
The digitalized public certificates from SK Telecom will include copies of immigration certificates, resident registration cards, health insurance qualification certificates, etc. These documents were previously being issued on paper and signed by hand. All the documents will now be issued using a mobile app and powered by blockchain technology.
How will the services be used?
The certificates issues via the Government24 app can be received directly on the SK wallet and can be submitted to financial institutions, public entities, and private companies. The app will be compatible with 13 types of certificates initially. SK Telecom plans to make the system compatible with 100 types of certificates, which will include documents related to tax.
Head of SK Telecom Blockchain & Certification Business Division, Oh Se-hyun said that blockchain is an essential tech that is “rapidly changing due to the need for non-face-to-face solutions where we need innovation in the process of submitting and processing certificates centered on paper documents and manual work.” He also said that technology could bring many advantages to such processes.
South Koreans are already moving towards digitized services. It was recently revealed that one million South Koreans have already given up their physical driver licenses. They are instead working with the blockchain-powered digital alternative using the PASS smartphone app. This means that more than 3% of the entire driving population in South Korea is now working with a blockchain app.