News, money, music and soon also ID in digital form. In the 21st century, it’s almost strange that something isn’t available in virtual form. South Korea is working on digital ID. Why is the state doing this, and are there any benefits?

One fingerprint from verification

South Korea wants to offer digital identities to citizens (not those between the two sandwiches) with smartphones, reports Bloomberg. This development is very special because it is secured with blockchain technology. The country is one of the world’s leading technology innovators, and it shows once again.

This country is already one of the largest in terms of x NFTs, crypto and now also ID with blockchain technology support. The reason is to simplify the verification process. Therefore, there is no need to take a photo of a certificate or sign in with a verification code.

This makes many activities such as applying for government benefits, money transactions, or even voting as easy as paying wirelessly with a debit card. If you have a digital ID, you only need to click a button (or provide your fingerprint) to do so.

What are the advantages?

The benefits are endless and may have more applications in the future. For example, Bloomberg has written that the benefits of digital ID depend on economic maturity. The news platform also provides some examples of possible applications. This makes it easier to offer medical services online without personal doctor visits.

Would you like to go to your hotel after that doctor’s visit? Access to hotel rooms is made easier by scanning your ID at the kiosk. Another big advantage is that your identity theft can be prevented with a digital ID. So you don’t need to be afraid of meeting strangers in your hotel room.

In addition, it is possible to agree to contracts remotely without scribbling. And finally, Bloomberg mentions that a better boarding process at the airport is possible through this technical tour. So the benefits are almost endless, with more in the future. So far nothing is known about the losses.