Weekly News

The last week of winter 2020 is coming to an end, and we are ready for the new season, waiting for new perspective blockchain-based projects and solutions, conferences and collaborations. We hope you are also ready for the new calls and innovative developments but don’t forget about the events that are changing the world of digital technologies just now.

To make your evening as exciting as possible, we have collected the most interesting news for the end of winter 2020!

South Korean Bank Implements Blockchain ID System from Samsung

A major blockchain identification project backed by South Korean tech giant Samsung is being rolled out for first commercial use. South Korea’s NongHyup (NH) Bank has introduced a blockchain-based mobile ID system developed within a tech consortium established by major local firms including Samsung Electronics and LG Uplus.

Based on blockchain technology, the new mobile ID system is designed to provide better control of staff’s personal information and protect their personal data while enabling handy authentication via a smartphone instead of a traditional ID card. 

At the launch, the blockchain-based ID service will reportedly be used for commuting and managing access to entry into offices. In the future, the mobile ID card is planned to be expanded to facilitate setting up appointments and payments for services. NH Bank’s demo of blockchain-powered ID service is the first commercial application of distributed identity technology developed by a decentralized identifier (DID) consortium known as the Initial DID Association.

By rolling out the first commercial application of its blockchain-powered DID technology, South Korea’s Initial DID Association showcases yet another proof for the big potential of blockchain for digital identification purposes. As blockchain provides an immutable ledger for data records, its technology has become a major tool implemented for streamlining digital identification by global tech giants like IBM.

KLM Royal Dutch Airlines Uses Blockchain for Financial Processes 

Part of one of the world’s biggest airlines, Air France-KLM, Royal Dutch Airlines has partnered with Dutch software startup Unchain.io in order to explore the potential benefits of blockchain technology for its business and internal processes.

After the close collaboration, Unchain provided KLM Royal Dutch Airlines with a strategic finance application based on blockchain technology developed by major global enterprise software firm R3, the firm announced this Tuesday. The solution intends to simplify KLM’s accounting process and settlements by implementing R3’s Corda — an open-source enterprise blockchain platform that is designed to record, manage and synchronize data.

Dominique Vijverberg, a fintech specialist at KLM Royal Dutch Airlines, said that the airline announced the project after initial research within the company’s innovation arm, the KLM Digital Studio

As reported, KLM’s Digital Studio has been actively exploring emerging technologies like blockchain, artificial intelligence and augmented reality as part of KLM’s digital transformation strategy.

Kaspersky Launches New Blockchain-Based Voting System

This week, Kaspersky Lab, a cybersecurity firm monitoring the cryptocurrency industry and emerging digital assets unveiled a new type of blockchain-based voting machine using Polys, the system released back in November 2017 designed to be an effective and secure way to vote online.

Preventing election fraud with blockchain-based voting systems has already been explored by a few governments. The first country to use one in an election was Sierra Leone, which recorded approximately 70% of votes cast on the blockchain back in 2018. More recently, India’s Chief Election Commissioner announced its citizens would be voting with blockchain.

According to Polys, voters will be issued unique QR codes or token. These can be scanned, allowing them to cast their votes on one of the new voting machines.