Quantstamp is proud to join the MyID Alliance, a Digital ID initiative by ICONLOOP. As the world moves towards more online and less face-to-face interactions, Digital ID will be a key enabling technology.
What is MyID
MyID is one of Korea’s first Digital ID services registered on the World Wide Web Consortium (W3C)’s Method Registry. Financial institutions, including leading Korean banks, securities companies, and insurance companies, will verify and issue identities with bank-grade authentication.
Included in the FSC’s “Innovative Financial Services and Regulations Sandbox” MyID has been recognized as Korea’s only ID verification platform that can be applied throughout the financial sector.
But MyID isn’t limited to financial applications. Once MyID is established, the IDs can be accepted and used in other areas including e-commerce, education, mobility, and much more. Transactions that used to require in-person meetings can now happen online.
The MyID Alliance includes ecosystem partners, growth partners, and global partners. Ecosystem partners are financial institutions including Shinhan bank,, Mirae Asset, and more. Samsung Electronics is also an integration-side ecosystem partner. These ecosystem partners will implement and issue the MyID digital identities.
Growth partners in the alliance include insurance companies, payment providers, and other businesses with end-user touchpoints which benefit from secure digital identity solutions
As a global partner, Quantstamp aims to work with ecosystem and growth partners to help them implement and integrate MyID securely.
ICONLOOP Inc. is a blockchain-specialized tech company based in Seoul, South Korea. ICONLOOP has been making many innovative blockchain use-cases in various industries by providing technologies and solutions to partners including Seoul Metropolitan City, National Election Commission, AWS Partner Network, and KYOBO Life Insurance.
Quantstamp Inc. is a leading blockchain security company based in San Francisco, California, with offices in Tokyo, Toronto, and Taipei. It offers full-service blockchain security auditing powered by automated tools, as well as enterprise blockchain development services. Its expert engineers have developed vehicle ID, personal ID, loyalty point systems, and other blockchain-based systems for a range of customers across government, automotive, and fintech sectors.