LG CNS Leads Establishment of Global Standards for 'Next-Generation Digital ID'

Participated as an Operating Committee Member of the 'Trust over IP Foundation'

[Asia Economy Reporter Jin-gyu Lee] LG CNS is leading the development of next-generation digital IDs that work anywhere in the world.

LG CNS announced on the 1st that it will participate as a member of the Steering Committee of the global decentralized identity verification (DID) organization, the Trust over IP Foundation (hereafter ToIP Foundation).

The ToIP Foundation was established in May to set international technical standards and policies for a global identity verification system. It aims to develop a DID standard model compatible with the standards of the World Wide Web Consortium (W3C) and build a digital identity verification system usable worldwide. Currently, more than 110 global companies and institutions participate, making it the largest consortium in the field of DID technology standards worldwide.

LG CNS is the only Korean company participating as a member of the ToIP Foundation Steering Committee. The Steering Committee holds a full meeting once a month to gather opinions on DID standards, protocols, governance, and conducts final deliberations and decision-making. By participating in the Steering Committee, LG CNS stands shoulder to shoulder with global companies leading the establishment of international DID standards.

LG CNS plans to actively provide opinions on its proprietary blockchain technology and DID standards. Additionally, it will utilize the ToIP Foundation’s standard technologies and protocols to build a DID platform based on LG CNS’s blockchain platform, MonaChain.

In May, LG CNS signed a memorandum of understanding (MOU) with global DID company Evernym to contribute to the establishment of global DID standards. Through this partnership, both companies are proactively contributing to the establishment of W3C’s DID standards and cooperating to implement a new authentication system that can replace international driver’s licenses and passports using blockchain technology.

Junwon Lee, Head of Solution Business Development at LG CNS, said, "We will collaborate with global companies participating in the ToIP Foundation to create blockchain-based DID solutions and service models that can be used worldwide."