NongHyup Bank launches blockchain-based DID service
NongHyup Bank launches blockchain-based DID service
  • Yoo Mi-ja Reporter
  • 승인 2020.02.27 00:50
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NongHyup(NH Bank) announced Feb. 25 a mobile ID card for the employee that is applied with DID (Decentralized Identifier) technology.

DID technology is an electronic identity that manages identification (ID) based on blockchain technology. The term refers to an identification system. An individual has the right to control personal information. It is possible to prevent the mass leakage of personal information generated by holding this personal information.

The mobile employee card service, unveiled this time, is Initial involving NH Bank. The Bank based on the blockchain network and distributed ID technology provided by DID Alliance. It is Korea's first commercial service with distributed ID technology jointly implemented by banks and SK Telecom.

Jang Seung-hyun, senior Vice President said "The competitiveness of digital finance will determine the future of the bank and we will secure new growth engines of Nonghyup Bank based on distributed ID technology."

NH bank plans the convenience of employees to have increased significantly as they can manage an entry, exit check and commuting through mobile service, and they plan to expand their visit reservation and payment functions in the future.

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