MyID Alliance

MyID Alliance is a blockchain-based digital identity consortium launched in 2019 that develops and promotes the MyID platform for Self-Sovereign Identity (SSI). The alliance implements W3C DID standards and received regulatory sandbox approval from South Korea's Financial Services Commission, making it one of the first approved DID services for the Korean financial sector. The consortium has grown to include over 80 member organizations across banking, securities, e-commerce, and manufacturing sectors.

The technical implementation centers around the MyID platform which enables users to:

• Store authenticated personal data on their smartphones
• Control and manage their own credential issuance and verification
• Utilize verifiable credentials across different services
• Leverage blockchain for data integrity verification

  Notable implementations include identity verification services with Shinhan Bank, NH Bank, and IBK Bank, as well as public sector applications like the Gangwon Province chronic disease management platform and Jeju Island's visitor management system.

The alliance focuses on expanding DID adoption through:

• Financial sector integration through regulatory sandbox initiatives
• Cross-industry interoperability via standardized protocols
• Global expansion through localization of business models
• Privacy-preserving authentication using blockchain verification