ICONLOOP has, as of late, released a blockchain-based certificate issuance service called “broof,” which is based upon the ICON public network. broof is used to issue any type of certificates, such as graduation certificates, employment certificates, and several more. Studypie, the Seoul Citizens Hall, and several others have used the blockchain certificate issuance service already to appoint individuals and issue blockchain graduation certificates to students.
Importance of blockchain-based certificate issuance service
- Intending to accelerate the mass adoption of blockchain, ICONLOOP has developed broof to help certificate issuance, storage, and to stop falsification.
- Additional features include certificate template customization, which allows users to change the logo, color, and text on the certificate and also to keep track of corresponding statistics.
- ICONLOOP offers “The POSTECH Blockchain CEO course” to its customers, which aims to raise leaders in the blockchain business for CEOs and corporate employees in the industry. Further, it is designed to enable business applications based on the technical understanding of blockchain.
How ICONLOOP’s broof make falsification and fake Issuance Impossible
- Developed on the ICON public blockchain network, broof supports certificate storage, issuance, and prevents frauds. Further, authorities can limit expenses of storing and issuing paper documents without making a separate database framework, while the recipients can view and receive their blockchain-based certificates anytime and anywhere.
- A Governance Team member can give a letter of appointment with a name, membership terms, and member identification number after accepting the terms. Further, the letters of appointment issuance records are stored on the ICON public blockchain, making fake issuance and falsification impossible. The authenticity of the record can be checked in the ICON Tracker by looking for a particular transaction.
ICONLOOP’s Blockchain-based Certificate Issuance Service Used in other Sectors
- ICONLOOP had signed a contract with Yeolmae Company to offer a blockchain-based certificate issuance service to the ARTnGUIDE platform, which acts as a mediator site for the joint ownership of art. Under the specifications of the contract, ICONLOOP’s broof service will store the possession of the art, alongst with the image of that work, in a way that prevents counterfeiting of the record. A timestamped certificate is issued that shows the image as well as the “chop” stamp signature.
- As of late, ICONLOOP has integrated its blockchain technology into the personal authentication service, which is used by SBI Savings Bank, a leading South Korean bank. Blockchain has been applied to SBI Savings Bank’s mobile application, which offers clients additional security and convenience. The application empowers clients to validate blockchain-based personal identification number (PIN) or fingerprints.
- Last August, South Korea’s biggest blockchain ecosystem, ICONLOOP (ICX), had signed a strategic Memorandum of Understanding (MOU) with Korea Productivity Center (KPC), Korea’s first educational consulting firm, to assemble a blockchain-based industrial environment.
my-ID Alliance
Last October, ICONLOOP has declared that it had raised KRW 10 billion (over USD 8 million) in a series of funding. Further, seven investment organizations, including Korea Technology Finance Corporation (KOTEC) and T.S. investment venture, was involved in this. Having accomplished the series A funding, ICONLOOP will concentrate on the launch of its DID service, “my-ID,” and the development of “my-ID Alliance.”
ICONLOOP’s Various Blockchain Use-cases in Different industries
- DPASS
“DPASS” is a blockchain-based self-sovereign identity service based on ICONLOOP’s independent DID technology. Besides, ICONLOOP supports the users in managing their several certificates which are not possible to forge or falsified. This is because of blockchain technology associating with broof.
- My-ID: Blockchain-based Mobile Identity Service for Various Financial services
“My-ID” is a blockchain-based mobile identity service acknowledged through ICONLOOP’s independent DID (Decentralized ID) technology. Individual information can be stored on a person’s smartphone application and the information owned and used by the individuals leading to a more secure and simpler self-management of their information.
Wrap up
ICONLOOP has developed a blockchain-based digital ID service that might be utilized for non-face to face for the opening of bank accounts. The Financial Services Commission (FSC) has incorporated ICONLOOP’s “my-ID” service into their Innovative Financial Services and Regulations Sandbox developed under the Financial Innovation Support Special Law. Even though blockchain still has many technological obstacles to survive, blockchain technology and cryptocurrency will continue to grow.
