South Korea tests a digital identity card that digitizes a system that has been used for almost sixty years, using blockchain to improve safety.
According to local reports, the new digital identity will be tested in nine regions, including the cities of Sejong and Yeosu and the provinces of Geochang and Yeongnam. It will be available to all residents of these regions aged 17 or older.
The new system digitizes a national identity card system that has been in use since 1968. In 2021, however, the South Korean government introduced three new digital identity cards: a mobile driver’s license, a veteran registration card and a foreign identity card.
Digital IDs become increasingly popular worldwide as more and more governments continue to digitize their services. However, cyber security remains a major challenge. Now that Identity is connected to almost every facet of the daily life of citizens, governments must ensure that it is adequately protected in an era in which AI cyber crime lifts to a new level.
In South Korea, the government will rely on advanced encryption and blockchain technology to improve safety, local reports say. It is unclear which blockchain the government wants to use and to what extent. Previously, the Seoul Metropolitan Government built applications on Icon, a local blockchain network, but the applications were limited to smaller tasks such as the issue of documents.
In a separate announcement, the Ministry of the Interior and Security announced that it would also spend digital residence cards on foreigners who live in the country. The new cards will have the same legal validity as their physical counterparts and can be used to access public and private services. The ministry works together with local banks to make the use of digital maps for fintech services possible.
The Ministry added that foreigners whose residence cards were issued before 1 January 2025 must visit an immigration office to get on board. However, the cards issued this year are equipped with an integrated chip with which holders can easily set their digital identity on a mobile app.
South Korea agrees with various other governments that investigate the digital identity to keep pace with the rapid digitization of most services. Qatar recently launched the ‘national digital authentication and trust services strategy for 2024-2026’, and a uniform digital ID is one of its pillars.
In Afghanistan, the Digital ID, known as E-Tazkiras, has grown explosively last year, with more than 15 million Afghans. This week the government announced that it was going to set up new registration centers, because the number of applicants was outside the charts. In Nigeria, the government has set an ambitious goal of 180 million digital identity certificates by the end of 2026, which amounts to a 100% participation in an initiative supported by the World Bank.
Thailand’s former Prime Minister wants digital assets to be legalized
Thaksin Shinatra, former Prime Minister of Thailand, has called on the Thai government to legalize digital assets and online gambling.
Shinatra spoke at an event after taking a new bill that relaxes the strict limitations for casinos. Despite the limitations, millions of Thai are concerned with gambling, and according to estimates, billions of dollars go to industry every year.
Shinatra is of the opinion that the government must take a similar position with regard to digital assets. As with gambling, the government is strict with the sector, although the limitations have been relaxed in recent years. Earlier this month, the government proposed to legalize payments with digital assets in the tourist area of Phuket. The securities supervisor has also proposed to legalize spot ETFs for digital assets.
Shinatra noted that with the rise of Donald Trump as president of the US, the fame of digital assets will rise worldwide, and he wants Thailand to position himself to take advantage of it. He called on the SEC to consider “the trade in Stablecoin, or coins that are supported by assets … There will be no risk, it’s just a different currency in the world.”
Shinatra was Prime Minister of Thailand from 2001 to 2006. Although he has since withdrawn from active politics, he has a major influence on the governance of the country, together with his daughter, Paetongtarn Shinatra, the current Prime Minister.
Thailand has one of the most advanced digital currency systems of the Central Banks (CBDC) in the world. It is also one of the founders of the Mbridge pilot, which builds a regional CBDC system for faster and cheaper cross-border payments between members, including Hong Kong, the VAE and China.
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