South Korea To Roll Out Blockchain-based Identity: Report

The South Korean government will launch digital blockchain-based IDs via citizens’ phones as it prepares for post-pandemic era

article-image

Seoul, South Korea | Source: Shutterstock

share

key takeaways

  • Citizens will be able to access their digital IDs via their smartphones
  • The tech-savvy nation ranks highest among developed markets for smartphone use

South Korea plans to leverage blockchain technology for the use of digital identity cards as the country pivots towards a post-COVID-19 era of remote work and online verification processes.

The country’s government will allow citizens to verify their identity via digital IDs embedded into their smartphones, replacing Korea’s resident registration cards by 2024, Bloomberg reported Sunday.

It comes as South Korea — one of the most digitally developed countries globally — seeks to bolster economic growth following the pandemic. The country was among the most significantly impacted among developed nations.

According to a recent report by the United Nations Conference on Trade Development, the pandemic accelerated the shift toward digitization. As such, cybersecurity concerns are front and center in an increasingly hostile environment safe storage of sensitive data.

Blockchain-based IDs are one attempt to alleviate some of that strain placed on countries seeking to bolster their defense against cyberattacks which have, at times, wreaked havoc across Europe, the US and Australia.

The initiative will leverage the benefits of storing user data in a decentralized manner while keeping citizens’ phone data, including how and where they use their digital IDs, private from the government, per the report.

South Koreans rank as some of the most technologically-savvy individuals across the globe.

Research conducted by the Organization for Economic Cooperation and Development’s Program for International Student Assessment in 2011 showed its younger generation topped other nations for use of online learning.

South Korea also ranks at the top for smartphone ownership, with roughly 96% of all Individuals of any age owning at least one smartphone and using it at least once per month. The US stands at roughly 80% on the same metric.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (2).png

Research

This reports analyzes the competitive dynamics of the Solana DEX landscape, identifying sustainable moats per protocol. We also find that Raydium (RAY), Orca (ORCA), and Lifinity (LFNTY) are valued very similarly on a P/S basis and what this could mean for Meteroa's (MET) valuation, which is still pre-TGE.

article-image

With $800 million now flowing to creditors, some expect a market boost — yet many remain cautious after years of waiting

article-image

There’s more to do on Solana than memecoins, but the market isn’t seeing it that way

article-image

Galaxy’s Alex Thorn said that the saga, paired with TRUMP and MELANIA, could lead to “further destruction of the memecoin complex”

article-image

Anatoly Yakovenko in 2017 embarked on the technical challenge of solving blockchain’s scalability problem

article-image

Grayscale Investments has historically had a four-stage lifecycle for its products, but there’s an indicator this could be changing

article-image

Brian Quintenz and Jonathan Gould are two recent Cabinet nominees with ties to crypto