SEOUL — Samsung is partnering up with theloop to develop CHAIN ID in order to incorporate the blockchain identification technology into its Samsung Pass service.
According to decrypto.net, Samsung Pass is an identity management service that utilizes biometric authentication.
CHAIN ID is a blockchain identification system that lets people use the same certificate at any bank or securities company that belongs to the Korea Financial Investment Blockchain Consortium, according to Medium.
According to Medium, CHAIN ID is the first blockchain based joint authentication system designed from theloop's 'loopchain' blockchain engine.
It is currently being used by 11 securities companies in South Korea.