South Korea to launch blockchain-based vaccine passports

Published at: April 1, 2021

South Korea will introduce blockchain-powered vaccine passports via a smartphone app later this month, the country's prime minister said Thursday.

South Korea is joining a number of other nations in introducing vaccine certificates that enable cross-border travel while mitigating the risk of infections.

Prime Minister Chung Sye-kyun suggested there could be substantial benefits for citizens at home too:

“The introduction of a vaccine passport or ‘Green Pass’ will only allow those who have been vaccinated to experience the recovery to their daily lives,” he said during a daily inter-agency pandemic response meeting.

The government developed the app using blockchain technology as a way to provide security against the possibility of identity theft. "[Systems] in other countries also do not store personal information while allowing the verification of vaccination statuses," Chung noted.

While 77,000 people have been vaccinated against COVID-19 in South Korea so far, the country saw another 551 daily cases on Wednesday. The Government hopes to have vaccinated 12 million people by June.

Brazil is also using a blockchain-based system to track vaccinations, while IBM helped New York develop the Excelsior Pass, which uses blockchain technology for information security. The New York state government said of the pass:

“Businesses and venues can scan and validate your pass to ensure you meet any COVID vaccination or testing requirements for entry.”

China has implemented a system and the European Union plans to do so by June. The International Air Transport Association is developing an app called Travel Pass, which may become the standard for cross border travel.

Vaccine passports remain highly controversial, especially in the US and in parts of the crypto community. The Republican Governor of South Dakota’s Kristi Noem, called the concept “one of the most un-American ideas in our nation’s history” while Ron DeSantis, the Republican Governor of Florida, is trying to ban mandated COVID passes in the state.

Crypto may also play a small role in thwarting efforts to impose non-blockchain based vaccination certificates. The BBC reports that cyber security agency CheckPoint found 1,200 ads for vaccines and vaccine passports on the darknet:

“Check Point investigators found many sellers offering forged documents, including one supposedly from the UK, with a vaccination card for $150 using the hard-to-trace cryptocurrency Bitcoin as the payment method.”
Tags
Related Posts
South Korean Shinhan Bank joins Klaytn’s blockchain governance council
Shinhan Bank, one of the largest banking institutions in South Korea, has entered into a partnership with Klaytn, a global blockchain platform developed by Kakao's subsidiary Ground X. According to the Monday announcement, Shinhan Bank has joined Klaytn’s blockchain governance council and become a member of the co-governance of the Klaytn blockchain. As part of the new partnership, Shinhan will be also involved in the development of Klaytn-based digital services to support fintech innovation. Launched in June 2019, Klaytn is a blockchain service provider focusing on integrating blockchain solutions into enterprise-grade infrastructures. The Klaytn blockchain is a hybrid blockchain network, …
Adoption / July 5, 2021
Blockchain Tech May Soon Fuel Medical Tourism in South Korea
In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set. According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the country in terms of population. The group’s main goal is to strengthen the medical tourism sector. The consortium includes Pusan National University Hospital, Dong-A University Hospital, Gosin University Gospel Hospital, Samyuk Busan Hospital, and payment brokerage company Knet Co. Ltd. Banking services offered through the platform The agreement states …
Adoption / June 20, 2020
Advances in Blockchain Drives Banks Toward Digital Currencies, Says Bank of Korea
South Korea's central bank, the Bank of Korea, has conducted new research and analysis on the progress of central bank digital currencies — or CBDCs — around the world. The bank released its “Overseas CBDC Progress Report” on May 18, in which the institution analyzed the CBDC projects of 14 central banks. New tech is a catalysts for CBDC projects The bank found that recent advances in payment settlements, decentralized ledger technology and the sharp declines in cash use are the main factors driving central banks to research and develop CBDCs. Most central banks in the report are currently developing …
Technology / May 19, 2020
ConsenSys to develop private version of Kakao’s Klaytn blockchain
Ethereum software company ConsenSys has formed a technical partnership with Kakao’s Klaytn blockchain, with a goal to develop a private platform for the issuance of a South Korean central bank digital currency, or CBDC. Klaytn is a public blockchain developed by Ground X, a blockchain affiliate of the South Korean internet company Kakao. Best known for its Kakao Talk mobile messaging app, Kakao has since branched out into the shopping and travel industries, among others. In 2019, the company commenced work on the Klaytn blockchain, which by the time of publication has the 25th-largest market capitalization in the cryptocurrency space. …
Technology / April 26, 2021
South Korea's Fintech Sandbox Creates 380 New Blockchain Jobs
South Korea’s regulatory sandbox has helped create almost 380 blockchain and other fintech jobs and generated around $110 million in investments. According to Shina Ilbo, the sandbox is overseen by the government's financial regulator, the Financial Services Commission, or FSC. It temporarily exempts companies from various regulations regarding financial services to aid with innovation and growth. The report said that 16 companies have been recognized for their growth potential, and attracted more than 136.4 billion won ($110 million) in new investments. Some of the companies participating in the government-sponsored program are pursuing business across 14 countries in Asia, including Indonesia, …
Adoption / May 15, 2020