Expanding authentication methods from driver's licenses to resident registration cards
Easy identity verification without a physical ID
Enhanced security by utilizing blockchain technology that is difficult to forge or falsify
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Digital asset exchange Upbit announced on the 5th that it has added a new mobile resident registration card to its existing identity verification (KYC, customer verification) methods (physical resident registration card, physical driver's license, mobile driver's license).
Foreigners residing in Korea, who were previously only able to verify their identity with a physical ID card, can now verify their identity using ▲mobile alien registration card ▲mobile permanent resident card ▲mobile foreign nationality compatriot domestic residence report card.
Upbit became the first domestic digital asset exchange to introduce mobile driver's licenses as a means of identity verification in May, proactively responding to the changing mobile-centric environment and striving to enhance its KYC system.
This update is also a measure to strengthen KYC and improve customer convenience, given the recent increase in mobile ID users and the ability to issue mobile IDs through private applications.
Mobile ID cards are characterized by high accuracy and security, as they apply blockchain-based decentralized identity (DID) technology to reduce the risk of forgery and alteration, and enable real-time verification of authenticity and validity.
Additionally, since it is stored in an encrypted form in the terminal security area and not stored separately on a central server, the risk of personal information leakage due to hacking is relatively low.
Oh Kyung-seok, CEO of Dunamu, said, "We have expanded mobile ID authentication so that customers can use the service more conveniently and safely," and added, "Upbit will continue to prioritize user protection and convenience and strive to build a trustworthy trading environment."
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
