The end of paper IDs soon ? – The South Korea is definitely one of the world leaders in news technologies. Its population is very well equipped and its government does not hesitate to take original initiatives in terms of cryptocurrency. Today, we learn that the end of identity photos is near since your smartphone could replace in the future a ID card or a passport. Blockchain on the verge of interfering in daily life? We explain this to you.
South Korea, world leader in technology
The South Korea has the reputation of being a country that is always at the forefront ofinnovation and the Portulans Institute has just confirmed it. This Washington-based think tank has ranked countries based on “enthusiasm and ability to apply technology in everyday life and business” for the population, but also for the government. And the Land of the Morning Calm came out premier of this classification.
The national authorities do not intend to stop in such a good way and have decided to launch a new project around theidentification by smartphone based on the blockchain. This type of verification becomes evident in a society where payments online are very common, where money liquid is gradually disappearing, where people work from home and where the metaverse attracts more and more users. No more need for codes sent by text message or scanned IDs, with this new technology, all you have to do is validate everything directly from your phone.
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A significant economic gain with the implementation of digital identity
Hwang Seogwonan economist at the Korea Science and Technology Policy Institute, said on the matter that “Digital ID cards can generate huge economic benefits in finance, health, tax, transportation and other areas and could quickly spread among the Korean population”. But he also cautions against adopting too quickly for “the dangers do not outweigh the benefits”. However, overall, the positives predominate.
The World Bank sees a ” game changer » and the consulting firm McKinsey – well known now in France – estimated at 13% the potential increase in GDP. It also quantifies the cost reduction of companies with several billion of dollars. For this calculation, it is based on a wide adoption of identifiers digital, saving working time administrative, a reduction in frauds and the creation of new markets. Suh Bo Ramdirector general of Korea’s digital government office, believes that 42 billion the dollars – i.e. 3% of GDP – potential gains in less than a decade.
The blockchain at the heart of the daily life of citizens
The Korean authorities will launch 2024 digital identifiers and consider that 45 millions citizens could use it within two years. Of course, setting up such a system will be cumbersome and will take time, but the authorities are confident. In addition, they reassure their population by specifying that the personal data will not be stored or accessed by law enforcement.
Finally, the uses envisaged are multiple:
- services medical on line
- use of cards boarding and hotels more simply
- warn the vol identity and simplify the validation of contracts
The contours of such innovation are actually rather vague as the uses seem limitless. The fact remains that the South Korea has the merit of trying to set things up around the blockchain when at the same time theEurope strongly relies on regulation and prohibitions. Two rooms, two atmospheres in crypto, everyone can choose their own pace. But the least we can say is that our Korean friends have a time ofadvance on the rest of the world.
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