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South Korean Banks to Implement Blockchain ID System

“Korea Joongang Daily reported yesterday that the Korean Federation of Banks will be releasing a new blockchain-based ID system in July” reports A KFB spokesperson said: “BankSign is the first project co-developed by the local banking sector utilizing blockchain technology.The KFB, an organisation made up of the country’s commercial banks, hopes that BankSign will be an improvement on the existing public certification system.The member banks of the KFB began developing BankSign in November 2017, and beta testing began the following April.

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