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ICONLOOP has introduced its digital ID service that can be utilized for untact (non-face-to-face verification) openings of banking accounts. The Financial Services Commission (FSC), South Korean government’s top financial regulator, has announced the inclusion of ICONLOOP’s ‘my-ID’ service into the ‘Innovative Financial Services and Regulations Sandbox’ created under the Financial Innovation Support Special Law.

As 18 different companies, including manufacturers, banks, stock/securities firms, insurance companies, and e-commerce companies, have expressed their participation in the Innovative Financial Service project, the sandbox inclusion is expected to act as a stimulus towards mass adoption.

my-ID is a digital identity authentication service built on blockchain technology. It allows for ID authentication information (ID, monetary transfers, verification through mobile phones, etc.) to be saved to the user’s mobile phone so that users can reuse said information to open further accounts or access other services that requires identification. This drastically simplifies the cumbersome processes such as taking pictures of one’s ID over and over again and will allow consumers to sign up for various financial products in an easier manner.

An ID that has been approved by financial institutions to be fit for financial activities is widely seen as having passed the most stringent authentication process. Therefore, it is expected that the said ID can and will be utilized within the digital ecosphere as a whole. For example, it could be used to authenticate driver’s licenses for car-sharing services or a method of logging in to an online shopping mall. Essentially, it will solve the problems due to the fact that there was no one unified method of ID authentication that everyone trusted.

In line with the global trend, my-ID is expected to be configured in a ‘self-sovereign’ manner, eliminating the risk of personal information leaks. The self-sovereign manner refers to a method where one keeps all of his/her information until it needs to be shared with a specific party, as opposed to consigning his/her information to a third authenticating party. This eliminates the risk of a third party holding large quantities of personal information and accidentally leaking information, as well as making it impossible for parties to trade other peoples’ private information for monetary returns. This, in effect, returns the ownership of personal information to the actual owners.

* Innovative Financial Services and Regulations Sandbox

It is an exemption system in which innovative financial services are designated and exempted from restrictions on licensing and sales activities. As children play freely in sand playgrounds, the phrase “Regulations Sandbox” is used for the purpose of unlocking regulations.

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Blue Whale

Freelance, freelancer, and freelance worker, are terms commonly used for a person who is self-employed and is not necessarily committed to a particular employer long-term.

Freelancers often rely on internet platforms to match their skills to particular projects in the same manner that corporations provide staff with a constant stream of duties. However, none of the freelancers on these platforms are employees of the platforms. As a result, they do not receive the benefits that typical full-time employment: retirement plan, paid time-off, unemployment, and medical coverage.

The Blue Whale Network wants to build a trustless network that no longer requires a centralized authority to manage contracts and provide the benefits of full-time jobs to freelance employees.

Significant highlight:

Blue Whale Global and Samsung Electronics Corporation (SC) signed a Memorandum of Understanding (MOU) to develop and to support the global indie game ecosystem together.

2. weBloc

What is the main goal of weBloc Project?

WeBloc seeks to change the core of the advertising ecosystem from advertisers to consumers. They intend to do this by using blockchain technology, creating a decentralized advertising ecosystem, building a user attention-based advertising ecosystem, and revolutionizing the existing advertising process by building an advertising alliance based on blockchain technology.

Significant highlight:

WeBloc has secured many future ecosystem players through AD4TH Insight’s marketing company. This includes mainstream companies, such as: Samsung, Blizzard, Reebok, and SK Telecom.

3. SOMESING

SOMESING uses blockchain technology to allow people to gain rewards for contributing to the ecosystem’s karaoke content using SOMESING.

This sounds awesome and is fun- all you have to do to gain rewards is to sing, record, and post your karaoke music on blockchain in a decentralized system.

Significant highlight:

Successfully completed an ICO in Q4 of 2018. They have launched SOMESING Beta — Pocket Studio a free Karaoke App where you can sing hundreds of latest songs. You can find the application on PlayStore and Apple Store.

4. VELIC

VELIC is an ICON network financial services platform how provides a range of financial services based on blockchain technology, including trading, crypto asset investment and you can even an instant crypto loan approval, everything on the same interconnected platform.

Significant highlight:

VELIC Crypto Exchange is live with several trading options. Currently, the supported cryptocurrencies and tokens are ICON (ICX), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM), TRON, QTUM, Tether’s USDT, Circle’s USDC, and TrueUSD (TUSD).

5. ZenSports

ZenSports is creating the largest peer-to-peer sports betting marketplace in the world, where anyone can make and accept bets with anyone else in the world for live sporting events.

With ZenSports you can deposit funds instantly using cryptocurrencies(Bitcoin, Ethereum, or Litecoin), create bets on your own terms that others accept, or accept others’ bets using a blockchain decentralized platform.

ZenSports currently offers the ability to create bets in any of the following sports leagues: National Football League (NFL), National Basketball League (NBA), England Premier League, Germany Bundesliga, Italy Serie A, France Ligue1, Span La Liga, UEFA Champions League, Major League Baseball (MLB), National Hockey League (NHL), NCAA Men’s Division I Basketball (CBB), NCAA Division I Football (CFB), Professional Golf Association (PGA).

Significant highlight:

ZenSports has a native app for iOS and Android that you can download to start betting on sports right now.