The Decentralized Identity (DID) Alliance Korea is collaborating with its members to plan a proof-of-concept (PoC), with the goal of creating a minimum viable product for a Global Standard for Digital Identity (GADI) by the end of July. According to a report from BCN Media, over 70 international firms will be collaborating, including Bank of America, CVS and Aetna. Korean organizations dedicated to digital identity efforts such as Nonghyup Bank and Korea Financial Telecommunications & Clearings Institute (KFTC) will be participating as well.

Goals for Building a Minimum Viable Product

Through the proof-of-concept trials, the DID Alliance hopes to explore a “trust framework between DID networks” and “immunity passports” in response to the current COVID-19 crisis. By having these personalized identifiers in place, individuals can potentially be tested and cleared for COVID-19, enabling them to travel and return to in-person work. In addition, the project can help to authenticate and verify certificates across networks.

The Formation of the DID Alliance

On July 24, 2019, the DID Alliance was formed with the intent to bring Self-Sovereign Identity into the digital era. The DID Alliance aims to promote the standardization of Decentralized Identity (DID) technology. Organizations within the decentralized identity space can cooperate to share ideas and best practices, and the alliance hopes to provide an identification means for the world population without formal proof of identity. Currently, the alliance consists primarily of South Korean financial firms along with multinational tech giants such as Fujitsu and Samsung.

Decentralized Identity Projects in South Korea

South Korea is also working on several other decentralized identity projects. Recently, Korean tech giant LG CNS announced that it was working with US digital identity company Evernym to develop an international ID card system that will create a blockchain-based authentication system that can substitute driver licenses and passports. By the end of 2020, South Korea also hopes to upgrade security systems and provide various digital certificates so financial firms can improve identity verification procedures for customers.