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R3 Partners With Dutch Tech Company to Pilot Blockchain-Based Digital IDs

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R3 consortium and Dutch digital security company Gemalto have partnered to pilot a blockchain-based digital ID solution.

Blockchain consortium R3 has deployed a digital ID application developed by Dutch digital security company Gemalto on the latest version of the Corda Platform, according to an announcement published September 18.

Corda is an open-source blockchain-powered platform developed for financial establishments by R3 in collaboration with more than 200 of its partners. The platform is geared to work within finance to operate massive transactional volumes and restrict access to transaction data.

The parties expect to conduct several pilots of the applicationcalled the Trust ID Network —  that will reportedly be launched later this year.

Per the announcement, Trust ID Network enables digital service providers to operate “fully verified and secureduser personal data by creating a Digital ID. Consumers can register within various banking, e-commerce and e-government services while avoiding repeated due diligence procedures in each instance.

The integration of Trust ID Network will reportedly allow users to control their data through a mobile app dubbed ID Wallet, where they can enter, certify, and share their personal information with specific service providers. Bertrand Knopf, EVP of Banking and Payment for Gemalto, explained:

“Trust ID Network solves the profound weaknesses of traditional, ‘siloedidentity frameworks: the clumsy user experience, rising costs and difficulties in complying with stricter regulationsFinancial institutions are best-placed to lead this self-sovereign identity revolution, but it will prove similarly attractive to a wide array of other service providers.

In July, R3 released a “versionof its Corda blockchain platform aimed specifically at businesses. The new version of the platform is reportedly “optimized to meet the demands of modern day businesses,” and includes a “Blockchain Application Firewallto enable the platform operate within corporate data centers and still communicate with Corda’s nodes.

Home Crypto News Korea Customs Service Partners with Samsung SDS to Build Blockchain Customs Platform
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Korea Customs Service Partners with Samsung SDS to Build Blockchain Customs Platform
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Korea Customs Service Partners with Samsung SDS to Build Blockchain Customs Platform

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Samsung SDS will develop a blockchain platform for the Korean customs service to fight customs fraud and forged documents.

The Korea Customs Service has signed an agreement with Samsung SDS to deploy blockchain technology for its customs clearance system, according to a press release published September 14.

Samsung SDS, the IT arm of electronics giant Samsung, will develop a blockchain-powered platform based on Nexledger, which will be used for export customs logistics services. Nexledger is a blockchain platform designed to provide an integrated solution to businesses looking to reduce expenses while managing digital financial transactions and data exchange.

The new product is reportedly aimed at organizations active in export operations, enabling them to streamline and secure document sharing at each stage, from customs declarations of the exported goods to the delivery, in addition to detecting and preventing the use of forged documents.

Along with the Korea Customs Service, forty-eight different organizations, including public agencies, shipping, and insurance companies have also entered the agreement.

The upcoming platform is not the first blockchain-powered logistics project developed by Samsung SDS. In June, the company revealed the Cello 3.0 platform, which will combine artificial intelligence (AI) technology and the company’s “logistics knowhow.

In August, Samsung SDS announced the launch of BankSign, a blockchain-based certification tool for banks and a joint project with the Korea Federation of Banks. BankSign reportedly enables customers to acquire a certification that is valid for up to three years, replacing the existing certificate system, which requires annual renewal and registration and authentication with each individual bank.

U.S. Customs and Border Protection is also looking to adopt blockchain for its shipment tracking system. The agency announced in August that it will launch a live test of the system, the results of which will define how blockchain is able to enhance the verification process of certificates of origin from partners of the North American Free Trade Agreement and the Central America Free Trade Agreement.

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