KCN THE ICONLOOP – “MY-ID”, A DIGITAL ID SERVICE
The opening bank accounts became possible without personal presence. The ICON team presented its development ‘my-ID’, a digital ID service that will be utilized for non-face-to-face openings of banking accounts. “The Financial Services Commission (FSC), South Korean government’s top financial regulator, has announced the inclusion of ICONLOOP’s ‘my-ID’ service into the ‘Innovative Financial Services and Regulations Sandbox’ created under the Financial Innovation Support Special Law. my-ID, which was designated as an Innovative Financial Service, is a digital identity authentication service built on blockchain technology. It allows for ID authentication information (ID, monetary transfers, verification through mobile phones, etc.) to be saved to the user’s mobile phone so that users can reuse said information to open further accounts or access other services that requires identification. This is stated in the official release of the ICONLOOP project. Stay with us and keep your finger on the pulse. The news release partner STEX.com.