CHAIN ID : The world’s first blockchain joint authentication service

Greetings from the ICON Team,

This post is to help you better understand CHAIN ID, the world’s first blockchain joint authentication service developed using theloop’s blockchain engine loopchain.

Discussions are underway in Korea regarding a regulatory shift away from the use of ‘Certified Certificates’. Certified Certificates are issued by a centralized Certificate Authority as a method of personal authentication (digital signature). Financial institutions are at the center of the debate, hoping to move away from using a centralized authentication method to a more diverse and flexible standard for personal authentication.

Answering to the needs of a new method of personal authentication, theloop has joined the Korea Financial Investment Blockchain Consortium as a technical partner to develop CHAIN ID. CHAIN ID is the world’s first blockchain joint authentication service and has been in use since October 2017 by 11 securities companies..

Public figures, such as the chairman of the Korea Financial Investment Association and Don Tapscott, author of ‘blockchain revolution’ and advisor of ICON, sent their congratulatory message in the opening ceremony of CHAIN ID.

We expect the blockchain joint authentication service to extend its use into other industries as well.