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.”