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South Korean Financial Services Agency Announces Blockchain based Mobile Employee IDs


The Financial Services Agency (FSA) has decided that they will be replacing traditional necklace employee IDs with blockchain-based Mobile IDs.
The blockchain-based Digital Employee Id will likely commence in July 2020.
Employees will no longer have to use fingerprint scanning or biometric authentication to identify themselves.

The Financial Services Agency (FSA) has decided that they will be replacing traditional necklace employee IDs with blockchain-based Mobile IDs. It will commence in July 2020. It means that employees will no longer have to carry a physical Identification card to their workplace. Thus, The initiative by South Korean FSA  will boost the adoption of blockchain technology.
How does it Work?       
Blockchain technology runs the Mobile ID system. Here the portal uses a blockchain to store the relevant employee information. Moreover, employees can access the portal using their mobile phones. Employees will no longer have to use fingerprint scanning or biometric authentication to identify themselves. Once this system is in place, employees can just hold their smartphones in front of the mobile employee identification system. The data will automatically relay to the system.

Integration of Blockchain Employee Id Amid Covid-19 Outbreak
In the aftermath of the COVID-19 outbreak, the way the world works has changed. Experts say that they cannot eliminate the virus. Furthermore, companies will have to figure out ways of working without risking the health of their employees. In such a setting, a mobile identification system can be very helpful in preventing physical contact or contamination. Moreover, the introduction of blockchain technology in people’s regular lives is a massive step in getting people to familiarize themselves with technology. And subsequently, cryptocurrencies, as the money of the future.      
An overview of the matter

The idea to replace necklace employee IDs with mobile IDs is going to be a significant first step. Thus, This is regarding introducing blockchain to the common people. We will, however, have to wait and see how the system works and how other players react to this move by the FSA.



The post South Korean Financial Services Agency Announces Blockchain based Mobile Employee IDs appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News .

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