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Home Blockchain Technology

CHAIN ID, developed using loopchain to be used in Samsung Pass ID service

Published by CryptoNinjas.net
05/11/2018
CHAIN ID, developed using loopchain to be used in Samsung Pass ID service

Seoul, South Korea based theloop, Inc., a leading provider of private blockchain solutions announced today that the Korea Financial Investment Association (KOFIA), which theloop is participating as a technical partner to develop CHAIN ID, has signed an MOU with Samsung Electronics to incorporate CHAIN ID in Samsung’s ‘Samsung Pass’ service.

Samsung Pass is an ‘identity management-as-a-service’, enabling secure access through biometrics such as iris, fingerprints, face recognition and e-signature.

CHAIN ID is the world’s first blockchain-based joint authentication system developed using theloop’s blockchain engine ‘loopchain’, and is being used by 11 securities companies in Korea.

The loopchain team said:

“We believe that this MOU with a leading global conglomerate is a big step towards both real-world adoption and globalization of blockchain technology. We are proud to say that loopchain is at the core of CHAIN ID and honored to be recognized by a corporation as reputable as Samsung.”

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