South Korea to issue vaccine passports based on blockchain technology.

Spread the love

The South Korean Prime Minister has announced the introduction of a blockchain-based vaccine credential later this month, but the practise has sparked controversy around the world.

South Korea’s prime minister announced Thursday that blockchain-powered vaccine passports would be available via a mobile app later this month.

South Korea is joining a number of other countries in instituting vaccination certificates, which allow for cross-border travel while reducing the chance of infection.

Prime Minister Chung Sye-kyun indicated that there might be significant advantages for domestic residents as well:

“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 software was created by the government using blockchain technologies to provide protection against the risk of identity fraud. “[Systems] in other countries do not store personal information while allowing vaccine status verification,” Chung said.

South Korea has vaccinated 77,000 people against COVID-19 so far, but the world saw 551 regular cases on Wednesday. By June, the government expects to have vaccinated 12 million citizens.

Brazil is now using a blockchain-based framework to monitor vaccines, and IBM assisted New York in creating the Excelsior Pass, which uses blockchain technology to protect details. The following is what the New York State Government has to say about 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.

RECOMMENDED READ:  How much rise will Bitcoin price see for Satoshi Nakamoto to become the wealthiest human on the planet?

Vaccine passports continue to be extremely contested, especially in the United States and in some areas of the crypto world. Kristi Noem, the Republican Governor of South Dakota, named the concept “one of the most un-American concepts in our nation’s history,” while Ron DeSantis, the Republican Governor of Florida, is attempting to forbid compulsory COVID passes in the state.

Crypto can also play a minor role in thwarting attempts to enforce vaccine certificates that are not founded on blockchain technology. According to the BBC, the internet protection company CheckPoint uncovered 1,200 advertisements for vaccinations and vaccination passports on the dark web:

“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.”

 214 Interactions,  6 today

How China extends its research of digital yuan this April.

China has been at the forefront of the growth of the Digital Currency Electronic Payment [DCEP], also known as Digital Read more

RECOMMENDED READ:  Lighthouse's first Ethereum and Eth2 merge transaction uses 99.98 percent less energy.
Flash Loans – Collateral swaps and DeFi lending Explained

Flash loans are a modern kind of uncollateralized lending available from DeFi platforms such as Aave and dYdX. Flash loans Read more

Decentralized Applications (dapps): What Are They?

Decentralized applications (dapps) are automated programmes that run on a distributed network of computer nodes rather than a single server. Read more

SEC’s appeal for financial reports from Ripple executives Garglinghouse and Larsen denied by a judge.

Ripple's motion to retain the records of the new and former CEOs confidential was approved by Magistrate Judge Sarah Netburn. Read more

Web 3.0: The Future’s Decentralized Internet

Few technologies have come close to matching the ease and importance that the internet provides to billions of people around Read more

Non-Fungible Tokens (NFTs): What Are They?

Non-Fungible Tokens Are Transforming Rare Collection Ownership and Exchange Tokenization is ideal for resources such as fiat currency, gold, and Read more

Cardano will launch smart contracts in August, with a focus on the DeFi Boom and corporate use cases.

The Cardano blockchain development team is revealing new information about the launching of its smart contracts. Following the announcement of Read more

Cardano could reach $8 by Halloween, cryptocurrency analyst Ben Armstrong claims.

Earlier this week, crypto expert and influencer Ben Armstrong discussed Cardano ($ADA) in a video posted to his very influential Read more

What exactly is Monero? , Monero (XMR) analysis, experience, benefits, and drawbacks

Monero is a cryptocurrency, a digital product that uses encryption to encrypt transactions. It is the thirteenth largest cryptocurrency by Read more

How Ethereum could reach $10,000 in 2021 and outperform Bitcoin, seasoned trader

Ethereum's "tremendous upside potential," according to experienced trader Scott Melker, could overshadow Bitcoin this year. In an interview, seasoned investor Read more

Is there a ‘revolution’ in Bitcoin mining in the United States?

Bitcoin, the world's first blockchain, was created to address the flaws of the centralised financial structure. PayPal co-founder Peter Thiel, Read more

Leave a Reply

Contact Us