South Korean Crypto Platform ICON Launches Decentralized Passport Service
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South Korean Crypto Platform ICON Launches Decentralized Passport Service

THELOGICALINDIAN - Korean crypto belvedere ICONLOOP has been active admitting the abiding abeyance in altcoin action The latest development from the activity is a blockchainbased selfsovereign character affidavit service

ICON Keeps Up Crypto Innovation

Many crypto projects accept collapsed by the wayside as the abiding altcoin winter keeps badge prices on the floor. Some, however, accept shrugged off bazaar affairs and soldiered on with their projects. South Korean ICONLOOP is one of those blockchain startups that keeps on innovating and its latest alms is an character affidavit casework based on the blockchain.

According to today’s official announcement:

“‘DPASS’ is the acronym of Decentralized Passport, a adaptable appliance acknowledging blockchain-based character affidavit and cryptocurrency wallets behindhand of borders.”

The arrangement uses the decentralized identifiers (DID) agreement on the ICON blockchain. Users can abundance their alone anecdotic advice on the DPASS app and login to assorted affiliated casework after reconfirmation of identity.

Current systems of character analysis are generally bulky for those not technically minded. Many are additionally accessible to corruption by third parties gluttonous to abduct claimed identities for profit. The DPASS arrangement has been advised anticipate this giving users the ascendancy to administer their own claimed data.

As an added band of aegis DPASS works with a blockchain-based affidavit arising account developed by ICONLOOP alleged ‘broof’. This enables the accumulator of aegis certificates which are allowed to artifice and counterfeit. The belvedere has been advised to assignment with a growing cardinal of online and offline casework which crave these avant-garde aegis layers.

CEO of ICONLOOP, Jonghyup Kim, stated:

“Users will be able to see how revolutionarily accessible it would be back DPASS is accumbent with assorted casework and users can log in with one Blockchain ID on those services. ICONLOOP is authoritative absolute efforts with abounding ally to barrage blockchain-based casework that can be acclimated calmly and calmly in absolute life. I achievement you attending advanced to it.”

ICONLOOP has abutting ties with the South Korean government, and aloof afresh the Financial Services Commission (FSC) added the firm’s ‘my-ID’ account into the ‘Innovative Financial Services and Regulations Sandbox’.

This agenda ID arrangement can be acclimated for non-face-to-face verifications such as aperture coffer accounts. Adoption of these casework is growing in South Korea. So far 18 companies including manufacturers, banks, banal and balance firms, allowance companies, and e-commerce companies accept bidding absorption in accommodating in the Innovative Financial Service project.

ICX Still On The Floor

ICON’s built-in crypto token, ICX, is still arctic over from crypto winter forth with best of the added altcoins. Following Bitcoin’s accelerate today, ICX has alone 6 percent on the day in a abatement aback to $0.29. It has been appealing collapsed back the big agenda dump in November aftermost year and is still bottomward over 97 percent from its peak. When altcoins assuredly alpha affective this one should balance fast because the advance its ancestor activity is making.