Decentralization is taking over the world for sure, and this becomes more and more visible these days.
ICON is one of the projects in the crypto space that’s been focused on decentralizing the world.
At the beginning of this year, the Korean-language business news outlet Money Today had an interesting interview with ICONLOOP’s CEO JH Kim.
An overview on Korea’s blockchain industry
He offered an overview of Korea’s blockchain industry and the direction in which this is moving.
According to the reports coming from The Icon.ist, he contrasted the development of Korea’s blockchain industry with the ones of the U.S., Japan, and China as well.
It’s been revealed that in the U.S and Japan, regulatory authorities have been adjusting their regimes over a lengthy period of time but on the other hand, in China, the government has taken a lead in promoting the blockchain.
On the other hand, it’s been revealed that in Korea the blockchain suddenly came under intense regulatory scrutiny back in 2017 and 2018 as the tech became connected to crypto.
“Though Korea is taking steps to develop blockchain technology with several R&D projects and public initiatives underway, he regretted that the blockchain scene was now too focused on system integration projects for major corporations. He felt the government should cultivate the blockchain industry in a way that encourages the acquisition of source technology,” the online publication mentioned above noted.
ICONLOOP introduces my-ID
The same website continued and revealed that he introduced ICONLOOP’s decentralized identification solution “my-ID.”
This is contrasted with the certificates that are used in Korea. Unlike the certificate which is proving that you are you. On the other hand, according to the notes, “my-ID proves you are you AND includes personal information such as your age, where you live or bank account info. And all that info is protected by blockchain’s decentralization.”
We recommend that you check out the complete article in order to learn all the details.