Blockchain Company joins “MyID Alliance” — English News Translation
This article is an English translation of the “Blockchain Company joins MyID Alliance” announcement published by reporter Kim Da Woon for inews24.
All rights to the information below belongs to inews24 and all translations provided by ICON P-Rep team ICON DAO.
Blockchain Company joins “MyID Alliance”
Various identification platforms will be incorporated into virtual asset exchange BTrade, and other services.
Blockchain Company, the operators of the cryptocurrency exchange BTrade, announced on the 14th that it will join blockchain-based DID alliance, “MyID Alliance.”
Launched in November 2019, MyID Alliance is an alliance that aims to establish and expand the connection of a blockchain-based distributed identification (DID) ecosystem in the online world, and is centered around MyID, a digital identification platform built by blockchain company ICONLOOP.
MyID is a blockchain based identification platform that enables users to store their personal information on their device and when needed for authentication purposes, allows the user to select and submit only the information necessary for authentication. The platform was designated as an Innovative Financial Service by the Financial Services Commission last June.
Currently 62 institutions and companies are participating as MyID Alliance partners, including Samsung Electronics, KB Securities, Shinhan Bank, Payco, GS Shop, and Yanolja.
Blockchain Company plans to participate as a MyID Growth Partner. They plan to utilize MyID-based identity verification and combine the platform with blockchain business through joint cooperation with domestic and foreign blockchain partners — contributing to the expansion of South Korea’s DID service industry.
Blockchain Company also noted that they are considering ways to integrate various identity verification platforms, including MyID, to protect customer assets on blockchain platforms such as their virtual assets exchange, BTrade, and to develop services that meet the standards laid out by domestic and foreign financial authorities.
An official from Blockchain Company said,
“This joining of MyID Alliance will be an opportunity to create various collaborations between domestic and foreign blockchain businesses. As a member of the alliance, we will try to ensure that safe and convenient DID technology can quickly replace and expand existing authentication technologies such as public certifications.”
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