As a result, the Korean virtual asset exchange will be implementing the distributed identification (DID) service performed by the alliance. Following the initial setup of the MyID system, the service will be integrated with the virtual asset trading platform and additional Bithumb products. By adopting MyID, the crypto exchange offers its customers an authentication and personal data protection solution.
MyID is a blockchain-based authentication platform that assists users in bypassing procedures involved with submitting proof of identity by storing identification data in personal devices and retrieving select data at the time of authentication. In addition, MyID is built on blockchain and biometric authentication technology.
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