The Korean Federation of Banks (KFB) announced a new blockchain based ID verification system, BankSign, which will launch in July.
The system aims to improve user verification in mobile and online banking.
The current 20-year-old public certification system makes it cumbersome and complicated for users to verify their identity. As a result, earlier in the year the Korean government publicized a review of the process. So BankSign is a first step to replacing it.
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