South Korea will provide blockchain-based IDs to citizens

South Korea plans to fully prepare digital identity IDs on blockchain by 2024.

The call for digital IDs is not new. Their importance was realized once the world moved to a digital economy and more and more people started making cashless payments.

And it's 99% safer (sorry, it sounded like a vape slogan in 2016 :D). For fear of being labeled "Big Brother," the South Korean government plans to adopt a decentralized identification system. 

The director general of the digital government, Su Bo Ram, said that the government would not have direct access to passport information. Although it sounds a little strange, they won't be able to register new people then, or they will have to go to the proper authority to get the data. 

So, in fact, directly a breakthrough in anonymity will not be, instead, digitalization and lack of fear of trying something new in this respect.

Previously, the country has already successfully implemented a digital driver's license based on blockchain. A 2020 report states that one million citizens gave up their physical driver's licenses in favor of a blockchain-based digital alternative.

And while the masses are marching around the planet, let's find some cool projects to make the dough as fast as possible. Moni Alpha Reports will help you do just that.