Coinplug's DID real name verification service was selected as an innovative financial service by Korea Financial Services Commission.

The real name verification service using the decentralized identity authentication (DID) of the blockchain company Coinplug (www.coinplug.com) was selected as an innovative financial service by the Financial Services Commission.

According to Coinplug on the 23rd, the service is a digital real name verification service using Coinplug's DID platform 'MyKeypin'. In addition to blockchain DID technology, it has also been developed for ease of use by introducing artificial intelligence-based facial recognition technology.

The Financial Services Commission has given special cases so that the use of facial recognition technology that contrasts the photograph of the real name verification card and the face photographed screen instead of a video call for non-face-to-face real name verification. In addition, when presenting a digital real name verification certificate stored in a customer's mobile phone, it was allowed to acknowledge that a non-face-to-face real name verification was performed.

Therefore, users can encrypt and store the certificate issued by DID on their personal mobile terminal, and then selectively present information only when necessary. Through DID technology, the 'self-sovereign identity verification' is realized in which users have sovereignty over their information.

A Coinplug official said, "We expect to be able to further develop the DID business area by receiving temporary permission for the financial sector business by designating this innovative financial service."

​It is expected that various decentralized identity authentication (DID) related services will be provided in the future.