LG is Developing a Blockchain-based ID System
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South Korean giant LG has partnered with US company Evernym to develop an identification system based on cryptos’ underlying tech.

LG CNS, LG's IT services subsidiary, reported yesterday it has signed a memorandum of understanding with Evernym to develop international digital identity standards at the World Wide Web Consortium, local media Aju Business Daily reported yesterday.

Both companies have decided to collaborate on the development of a decentralized blockchain ID system to replace international driving licenses and passports.

Evernym has already worked on similar solutions in the past, as the company already offers the Sovrin platform, which allows organizations and governments to issue, verify and manage digital credentials such as digital passports.

It is no surprise both companies have decided to build this new identification system on cryptos' underlying tech, as its immutability makes it perfect for this type of solution. Data recorded in a blockchain cannot be modified, which is the reason why blockchain is the preferred option for this type of systems.

As a result, digital identity is one of the most active areas of development of blockchain tech.

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