A South Korean job placement platform, Saramin has signed a memorandum of understanding (MOU) with blockchain startup ICONLOOP to create a blockchain-based digital ID and authentication ecosystem.

Established in 2016, ICONLOOP has developed “MyID” – a blockchain-based digital identity authentication service. MyID allows for ID authentication information such as ID, monetary transfers, verification through mobile phones, etc. to be stored to the user’s mobile phone so that users can reuse said data to open further accounts or access additional services that need identification.

Following the agreement, Saramin, a platform that is similar to Indeed.com, will utilize ICONLOOP’s management service ‘broof’ and blockchain certificate issuance and MyID to improve consumer experience and value.

“Through this agreement with Saramin, submitting the users’ certificates and verifying the authenticity of these documents will be simplified,” ICONLOOP stated.

The MOU is also targeted at collaborating and contributing to developing a sturdy and vibrant blockchain-based digital ID and verification ecosystem in Korea.

“We are confident that blockchain technology based on its stability and transparency will make a big change in the field of human resource management,” Jong Hyup Kim, CEO of ICONLOOP, said.

“Many members using Saramin, the nation’s leading employment platform, will now experience the benefits of blockchain technology. And this will be an important case of real-world blockchain adoption.”

Just lately, Pohang University of Science and Technology (POSTECH), a leading Korean university, applied ICONLOOP’s ‘broof’ to issue blockchain-based digital certificates.

Nowadays, more and more educational institutions and businesses are planning to publish blockchain certificates through ‘broof’ in the prospect. And with this, we anticipate improved activity in blockchain-enabled HR adoption.

Last year, ICONLOOP raised over $8 million (KRW 10 billion) in Series A funding round held by the Venture Investment Center at Korea Technology Finance Corporation.

The company is also beginning the MyID Alliance, which includes leading companies and organizations, including POSCO, Samsung Securities, Shinhan Bank, and Korea Productivity Center, among others.