Korean Tech Giant LG Is Developing a Blockchain Identity System With a US Firm

Decentralized identity solutions might be blockchain's killer app.

Listen to article LG has partnered with United States-based company Evernym to develop blockchain ID technology.

The collaboration between the two firms aims to develop international digital identity standards at the World Wide Web Consortium.

A new identity standard for the webTo establish the new standard, the two firms decided to jointly develop a blockchain-based decentralized authentication system to replace international driver's licenses and passports.

Evernym already launched Sovrin, a platform aiming to enable organizations and governments to issue, verify and manage digital credentials such as digital passports.

"Evernym's platform allows every person, organization, and connected thing to have an independent identity."

Gabriel Kurman is head of strategy at RIF, a Bitcoin-based solution that develops its own identity management system.

Blockchain use in digital identity solutionsBlockchain's censorship-resistance and resilient infrastructure make it a great fit as a foundation for digital identity solutions that need to be secure and always accessible.

Decentralized digital identity solutions are one of the most active areas of development of blockchain technology.

Earlier this month the South Korean city of Sejong announced that it plans to use blockchain to store and verify the identities of self-driving vehicles.