The Raon Secure Driver's License Solution Running on EOSIO
Identity solutions remain among the greatest obstacles toward the mass adoption of cryptocurrencies. KYC, Knowing Your Customer, is a business standard widely practiced in the United States. It proves to be among the strictest regulations. While KYC advanced old security protocols in terms of fraud protection, it’s actually a limited concept given the available technology of today.
Blockchain-based identity solutions simply provide better alternatives. They can also be a first step toward on-boarding the masses.
Transitioning toward Blockchain-based Identity
Driver's licenses are a convenient way to prove identity. Developing blockchain solutions for such systems could instantly solve many persistent issues within the crypto industry. Raon Secure is doing just that for South Korea. The company’s development of an identity system that transitions driver’s licenses onto blockchain is just one aspect.
South Korea's Leadership in Cryptocurrency and Blockchain Development
Few countries can match South Korea’s overall cyber investments. The nation ranks fourth out of nearly 200 countries on the Global Cybersecurity Index. In 2019, the National Cyber Security Strategy took effect and already appears to have found success. A national R&D budget exceeds 74 billion, up 20% from last year. South Korea proves year in and year out to be among the most crypto-friendly countries.
Blockchain’s Increasing Global Influence
Few globally, influential organizations entirely dismiss blockchain solutions. A vastly different scenario existed even a couple of years ago. South Korea’s aggressive pursuit of cyber excellence supports the overall prosperity of the nation.
Establishing cyber systems around a blockchain-based ID sets a very, strong precedent. South Korean success will put pressure on other nations to adopt similar blockchain systems. Redefining infrastructure in similar ways (e.g. El Salavador’s Bitcoin law) provide a testament to an already burgeoning young crypto industry.
About Raon's EOSIO System for IDs
Raon announced it had been selected to develop South Korea's first digital ID card on June 25. The company added a bit insight about it's revolutionary identity platform:
“...it will leverage our #DID platform OmniOne…”
A few months prior, Block.one spotlighted Raon's OmniOne as a pioneering decentralized ID project. Raon's DID platform still needs to meet the requirements put forth by South Korea's Ministry of Science and ICT and the Korea Internet and Security Agency. From the government’s standpoint, the primary objective is developing an operating system and services for mobile ID cards.
A New Approach
The closer one looks at the Raon's solution for South Korea, the more impressive it appears. Here also one finds answers to why so many other nations remain hesitant. What initially stands out is OmniOne's absence of HTTPS-secured sites. Specialized white hacker organizations plan to be the focus of securing digital ID services instead.
Sovereign Identity. Blockchain offers the world true independence. Lee Soon-hyeong is Raon Secure’s CEO. He explained sovereign identity (SSI) in the following way:
Through DID technology that realizes sovereign identity (SSI), all citizens will be able to enjoy the next-generation identification service that is safer and more convenient than the existing system...
Interoperability is the Key. Following W3W DID standards doesn’t guarantee interoperability. In contrast, Raon Secure’s growing influence as a blockchain provider seems to help assure it. Consider how member banks of the DID Alliance already employ a blockchain solution by Raon. There’s even a working relationship with Open Blockchain that spans across industries and regions. Influencers like Microsoft and IBM can trace their association as far back as 2018.
South Korean Ventures into Blockchain and Logistics
Since the beginning, the blockchain community believed in a better world founded on decentralized systems. South Korea reiterates this sentiment as it pursues a myriad of blockchain-related solutions. It's use of mobile apps as proof of Covid-19 vaccination is merely a single powerful illustration of the nation’s commitment. Here are a few others:
online voting system
national expansion program focused on blockchain projects
Core infrastructure systems like these were predicted to be disrupted by blockchain. South Korea’s leadership and openness is sure to become a model for that better world envisioned by Satoshi.
Other Projects by Raon
The team at Raon seeks to provide far-reaching solutions for things like information protection management systems. Other areas where the world may feel Raon’s impact include IoT medical devices and white hat consulting services.
Blockchain companies expected to take a leadership role in developing the future. Regulatory bodies, apprehension, as well as disbelief in decentralized systems, hampers such progress. Raon and South Korea demonstrate what’s possible when blockchain enterprises have the backing of their government.