ICONLOOP Launches DPASS, a Blockchain Identity Verification Service
DPASS, short for Decentralized Passport, is a mobile application that supports blockchain identity verification and a cryptocurrency wallet across borders. It can be seen as a self-sovereign identity verification service built on a decentralized identifier (DID) protocol running on the ICON public blockchain.
Users keep their own information in the DPASS application and can then use a range of services without repeatedly entering personal data. The personal information a user stores in DPASS is designed so that no third party can access it without the user's permission, leaving users to manage and use their own personal data directly. DPASS also follows the DID standard of the World Wide Web Consortium (W3C), giving it strong potential for service expansion. Because personal information — including private keys — is stored in a distributed manner, security is likewise robust.
ICONLOOP is also linking DPASS with broof, the blockchain certificate issuance service it developed in-house, so that users can keep tamper-proof, blockchain-based certificates of various kinds inside DPASS. Beyond broof, the company aims to connect DPASS with a wide range of online and offline services to make blockchain services more convenient to use. To that end, it is in discussions with ICON partners about applying DPASS to decentralized applications (DApps) built on the ICON public network.
"Once DPASS is connected to a variety of services and users can prove their blockchain ID in a single step, they will experience a remarkable level of simplicity firsthand," said ICONLOOP CEO JH Kim. "We are working with many partners to build blockchain services that are more convenient in everyday life, so please look forward to what comes next."
Separately, ICONLOOP's digital identity verification service MyID was recently designated an Innovative Financial Service under the financial regulatory sandbox created by the Special Act on Support for Financial Innovation announced by the Financial Services Commission (FSC). MyID is a digital ID service that can be used for non-face-to-face account opening, and it will be implemented as a self-sovereign identity verification service free from the risk of personal data leaks. Eighteen companies across a range of sectors — including manufacturers, commercial banks, securities firms, insurers, and e-commerce companies — are reported to be taking part alongside ICONLOOP, raising expectations for rapid adoption of the service.
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