MOU with Evernym, a company in the decentralized identity verification field
Development of blockchain-based DID solutions and business models


LG CNS announced on the 26th that it is pursuing the development of an identification card that is accepted anywhere in the world.

LG CNS signed an MOU with Evernym, a Canadian company specializing in blockchain-based Decentralized Identity (DID) technology services, to establish global DID standards.

DID is a technology that uses blockchain technology to verify an individual's identity. With a single identity verification, users can access services from various institutions without additional authentication. It is attracting attention as a technology that implements 'MyData' in accordance with the enforcement decree of the three data laws and replaces the recently abolished accredited certificates.

Evernym founded the Sovrin Foundation, a consortium of DID technology companies, and is leading the establishment of standards at the World Wide Web Consortium (W3C), which establishes global standards for DID.

As DID technology advances, interest is growing in a new concept of identification that allows individuals to prove their identity anywhere in the world. However, a unified DID standard is necessary to realize this.

Through this MOU, the two companies agreed to cooperate in contributing to the establishment of W3C DID standards and building a business foundation for global identity authentication. Through this, we plan to implement a new authentication system using blockchain technology to replace international driver's licenses, passports, and the like.

In addition, they will collaborate on the development of blockchain-based DID solutions and business models. Assigning DIDs to various products enables applications in diverse fields, such as easily verifying all logistics and repair histories. Initially, they plan to identify business models based on LG Group's existing businesses.