Last time on iconTV. This
just might be the thing ICX hodlers have
been waiting for.
South Korea is finally retiring their
decades-old
online ID security system. The system was
first introduced
in 1999 and has reigned as the country's
dominant security platform for online
transactions
and identity checks. 21 years later
South Korea's public certification
system will meet its demise
after the electronic signature act was
passed by congress.
The new law will go into effect in
november of 2020.
The only question is who or what is
going to replace the old system.
But if you start connecting the dots a
blockchain based ID system
appears to be the obvious choice.
Hi, this is David from P-Rep team
Mineable.
Make sure you subscribe and click on the
bell so you don't miss
any new videos. Your phone,
computer, and the internet. These
technologies
have become an irreplaceable part of our
interconnected society.
Integrations so seamless that we don't
even notice we're using them.
When people think of blockchain
technology they think of digital
payments,
speculation, but blockchain is capable of
so much more and ICON is one of the
first
projects to tap into that potential.
Something that is far beyond speculation.
The potential of integrating blockchain
technology
into the everyday lives of billions of
people globally.
That is the future ICON is building.
Life meets blockchain. If there's a
lesson to be learned from 2020 and the
six months of global lockdown
it is the pace at which the world has
gone digital.
With many companies and individuals
constantly looking to exchange
information securely blockchain adoption
was inevitable. This is where ICON comes
in.
In 2017 the ICON project started out
with the goal of connecting Korea
and ultimately hyperconnecting the
world.
Fast forward to 2020, they've managed to
build a vast network of partnerships
with some of the largest companies in
the world,
Korea's largest banks, and key government
entities
including the government of Seoul, but
that was just the beginning.
What comes next is some of the biggest
news for
any crypto project. True mass adoption.
It's official. MyId has launched and it
came out guns blazing.
Welcome to Jeju Island! Better known as
the
Hawaii of South Korea. It's South Korea's
most popular tourist destination
and is visited by 15 million tourists
every year.
In fact it's one of the busiest airport
routes
in the world. Jeju Island has taken
strong measures to prevent the spread of
COVID-19.
They've collaborated with ICONLOOP to
develop a first of its kind blockchain
application
and provide private and secure COVID
contact tracing to the island's 15
million
annual visitors. When visitors arrive on Jeju Island they will download a mobile
app to check into tourist destinations
using a QR code. Their data will then
be secured on the blockchain and only
accessed in the case of COVID-19 contact
the app uses the ICON public blockchain
for mobile authentication.
That means 15 million people will be
using
ICX every time they visit the island and
download the application.
This is the first major adoption of a
public chain
product by a major government entity.
That in itself
is revolutionary. Just when you thought
it couldn't get more bullish
one week after the launch of MyID the
second largest bank in Korea introduced
a product that integrates ICON's MyID
into their native banking application.
Yes, you've heard that right.
ICX has been integrated with one of the
largest banks in South Korea.
Here's why this is a game changer.
Shinhan
is Korea's second largest commercial
bank with 375 billion dollars in assets
and
18 million customers. These 18 million
South Korean customers
will soon be able to remotely open bank
accounts by
only using their smartphones via ICONLOOP's MyID.
This verification process will leverage
both the private chain and
icon's public blockchain. In other words
ICX will be used by Shinhan's 18 million
customer base without them
even knowing it. That is another perfect
example of true mass adoption.
ICON has spent years building
connections between its private and
public network and we're finally
starting to see real-life examples of
what makes the synergy between
ICONLOOP and ICON so powerful.
These partnerships will give even more
legitimacy to icon's public network and
create a snowball effect of even more
private businesses
wanting to join the network. Currently
ICONLOOP's MyID
alliance has over 70 members consisting
of companies like Samsung Electronics,
banks, securities firms, local governments,
e-commerce companies, and manufacturers.
This was just the first MyID
integration from its 70 plus alliance
partners.
One by one every company in MyID
alliance
will be connected. For ICON what we've
seen so far
was just the tip of the iceberg.
Thank you for watching this episode of
iconTV. Make sure you subscribe and like
this video
and if you're an ICONist make sure you
show your support and vote for "Mineable"
P-Rep.
Every vote counts. See you next time
Mineable out.
