MCS | Farewell to the Inconvenience! It's the Blockchain DID time!

MCS | Farewell to the Inconvenience! It's the Blockchain DID time!


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Source: SK Telecom

South Korea's Samsung Electronics and SK Telecom announced on May 22 the launch of a new 5G smartphone 'Galaxy A Quantum' which contains the first quantum random number generation chipset. They also said that this Galaxy A Quantum is equipped with a blockchain-based decentralized identity authentication (DID) service called "Initial". "Initial" automatically stores various personal certifications (Certifications for access, skills, graduation, and more) in its 'Quantum Wallet' which is safely storing valuable information in a decentralized blockchain platform, Quantum.

How much do you know about DID?

The DID (Decentralized IDentity) is an identity verification service built on blockchain technology. People's personal information is encrypted, distributed, and managed on personal devices such as smartphones, tablets, and PCs owned by individuals, not on a central server of a third-party institution or company. Only the authenticity of the information is recorded on a blockchain that cannot be tampered with, and it allows one to prove one's identity without an intermediary. This technology is free from hacking, and the user can be freed from worrying about personal information theft.

Revocation of Old Authorization Certificates ... DID plunges into the era of endless competition for electronic signatures.

On the afternoon of the 20th, as the government amendment of the Electronic Signature Law passed the National Assembly of the Republic of Korea, the DID also entered the fierce e-signature competition. In the government amendment, after abolishing the old authorization certificate system, it is said that a system for accreditation of compliance with the operating standards for digital signature authentication will be introduced, which increases the reliability of various digital signature means and provides information necessary for user selection. The Ministry of Science and ICT predicted that, when the amendment is implemented, competition between various electronic signature services based on new technologies such as blockchain and biometric authentication will become brutal.

The blockchain technology that permeates our lives

The DID can be used as a means of identity verification offline as well as a replacement for authorization certificates.

MCS Traders, let us imagine. The hassle of having to get your ID card or driver's license from your wallet, and the moment of freedom from the inconvenience of using legacy authentication protocols...

A world where you can easily verify your identity using a smartphone and blockchain technology. Isn't this what we have been waiting for?

Traders ALWAYS come first on MCS.


Traders always come first on MCS.

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