South Korea’s focus on tech developments keeps citizens at the forefront of smartphone technology; including access to various applications for everyday life. Such capability will even be enhanced once the SoKor government moves forward with its implementation of the blockchain-based ID.
According to reports, the technology will enable citizens to confirm their identity by way of the digital ID information embedded in their smartphones. Actually, the government’s goal is to replace South Korea’s Resident Registration Number (RRN) by year 2024. As it is, all residents of South Korea regardless of nationality are required to register. In doing so, they become holders of a RRN card for record-keeping and ID- verification purposes.
The difference though is that the blockchain-based digital ID will give SoKor residents the ability to limit the personal information they will share to entities such as service providers or vendors. The blockchain-stored digital ID is seen as one of the most effective way of bolstering a country’s security defenses against cyber criminals who have been attacking European, Australian and US systems by way of false or stolen identities.
Through the blockchain-based digital ID, the SoKor government anticipates reaping as much as three (3%) per cent of the economic value of the country’s Gross Domestic Product (GDP). After all, a global research revealed that South Korea, just like the US, ranks high in terms of smartphone ownership. Roughly about 96% of SoKor citizens own a smartphone that they use at least once a month.
It has also been noted that one of the most popular uses of smartphones in South Korea is for mobile gambling. Despite gambling restrictions applicable to Korean citizens, many have access to online casino games like 곤봉 (blackjack), 포커(poker) or 온라인바카라사이트 (baccarat) using their mobile phones.
How Will the Blockchain Digital ID Impact Mobile Gambling?
Since Identity is integral to having a gambling account in online casinos, the blockchain digital ID will make identifying one’s self and establishing links to financial resources easier and at the same time more secure. All information stored in blockchain ledgers can only be retrieved by way of private key codes issued and known only to authorized individuals or entities.
Control over personal ID information is enhanced because even if a company gets hacked while holding multiple personal information of customers, merely listing down data is not enough to use as proof of ID. A person’s social security number for one, is acceptable as proof only if secured by way of the government’s national ID blockchain system.
The forthcoming blockchain ID system will empower SoKor punters to also gamble in trustworthy crypto casinos, whose records and online casino offerings are likewise maintained and controlled by way of blockchain technology.