Blockchain Labs based both in Seoul and Paolo Alto, California, is working on potential collaboration with the Linux Foundation and foreign governments in building a blockchain-based database of Covid-19 vaccine recipients, the company’s chief executive Um Jeeyong recently told Maeil Business Newspaper.
Blockchain Labs was at a center of controversy early this year when the less unknown company was chosen by the Korea Disease Control and Prevention Agency (KDCA) as a solo partner for blockchain and decentralized identifier (DID) technology to be embedded in the KDCA’s vaccine passport app named COOV.
Um said his company was chosen because its technology is based on scalable ‘public blockchain’ which is not related to cryptocurrency.
COOV, a Covid-19 vaccine status certification system app, allows users to present their vaccine certification to authorities in a form of QR code on the mobile phone.
Um said his company developed public blockchain technology in 2018 and approached the KDCA with a model app in December last year and later received a meeting call. Similar collaboration proposals were submitted to four to five countries around that time and they are in the process of validating the technology.
He also said his company received a cooperation proposal from the Linux Foundation at the end of March and he is aiming to create a global standard together with the foundation.
Blockchain Labs wants to build a medical data system in many countries based on its technology provided gratuitously to each government.
Um brushed off security and privacy concerns related to the QR code system, arguing his company’s QR code is only used to create a one-off communication channel, and no information can be obtained from its possible leak.
Blockchain Labs founded in 2013 has built up technology know-how by working on a blockchain-based credit card system in Berkeley, California.
By Shin Chan-ok and Minu Kim
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]