“Blockchain is the key to increasing the utilization of electronic documents” : article on website of Blocko

On November 14, an article about the use of blockchain technology when using electronic documents was published on the Blocko website.

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loses because the company” innovation, steady attempt to paper filing electronic documents → “
The goal is to overcome limitations in existing storage, transparent, electronic document distribution form ‘

“There are many companies that have taken the lead in the electronic document market. Unfortunately, it was competing to take the lead while the infrastructure for distributing various electronic documents was not properly equipped. That’s why people who use it properly are counted in the hand. This can be solved if the blockchain takes over.”

Jaehyuk Shin and adviser Jonghwan Kim (hereinafter referred to as the DTT Alliance Secretariat), who lead the DTT Alliance at Blocko, a blockchain technology company, recently met with IT Chosun and said this. This is the answer to the question of whether fintech, mobile carriers, and traditional financial sectors are already competing for the preemption of the electronic document market.

(From left) Jonghwan Kim, Advisor to Blocko and Jaehyuk Shin, Director of Global Marketing, Blocko.

As the digital transformation spreads to the novel coronavirus infection (Corona 19), the demand for using electronic documents increases. However, there are ceaseless criticisms that the use of official electronic document archives that store electronic documents is limited due to cost and technical limitations. An accredited electronic document storage center is a publicly trusted third-party organization that securely stores electronic documents requested by others, such as corporations, banks, credit card companies, etc., and certifies the contents and transmission/reception of electronic documents under national designation.

In order to supplement the problems of storage and respond to increased demand, businesses with excellent consumer access, such as Kakao Pay and Naver Pay, have emerged as brokers. Nevertheless, electronic documents are still neglected by consumers. This is because there are few types of electronic documents supported.

Electronic documents are easily forged or altered and are likely to be damaged by server errors or physical damage. In this situation, companies such as Kakao Pay and Naver Pay have become intermediaries. There are also concerns that confidential corporate information and customer information may be passed on to these companies. There is no company to be pleased with. This is the reason why blockchain technology with security, reliability, and decentralization characteristics is well suited to electronic documents.

“If you add blockchain to electronic document distribution, synergy ↑”

The DTT Alliance was launched to solve this chronic problem with blockchain. Focusing on Blocko, 20 domestic and foreign companies including CJ OliveNetworks, Lotte Information & Communication, Daebo Information & Communication, Hyundai Autoever, and Fujitsu Korea will participate.

The Alliance provides enterprises with an environment in which electronic data such as electronic documents can be exchanged and verified, and helps to monitor each other. The goal is to overcome the limitations of existing centralized certified electronic document storage centers or certified document brokers.

The DTT Alliance Secretariat said, “Without the blockchain, the electronic document market would have become a market monopolized by large companies like the Pay market in the past. Blockchain technology aiming for decentralization can solve this problem.” It is not a market where large companies like Pay may win, but a market where everyone democratically participates.

Electronic document forgery and alteration problems can also be solved with blockchain. The secretariat said, “The DTT Alliance solves this problem by using the’blockchain TSA’ that acts as a seal. TSA is a blockchain technology that automatically records data creation, modification, and utilization history. It is used to verify forgery and forgery and to recognize the use of documents from other organizations.”

For example, suppose you need to stamp an electronic document on an electronic document. If you use TSA, it is easy to verify forgery or alteration, and you can more reliably verify that the electronic document is authentic from outside.

“Blockchain takes the initiative for everyone”

The launch of the DTT Alliance alone does not solve the problems of the existing electronic document market. For this, the secretariat’s position is that the technological maturity of the domestic electronic document market must be strengthened first.

Accordingly, the secretariat plans to focus on standardizing the blockchain TSA required for the electronic document distribution process. In addition, the government will respond to the revision of the Enforcement Decree of the Electronic Documents Act so that the information recorded in the blockchain can be recognized at the same level as the information stored in an official electronic document archive.

The secretariat said, “After laying the foundation for the use of electronic documents, we will use them for various data verification processes such as finance, public, my data, and medical record management.”

The biggest challenge is the process of persuading existing electronic document companies and large corporations that are negative to joining the Alliance. Accordingly, the DTT Alliance allows participating companies to jointly verify and utilize data. The secretariat said, “Some large corporations hesitate to join the alliance due to concerns that they may lose their initiative. As the alliance aims to coexist with the establishment of standards and e-document distribution infrastructure, everyone can take the initiative It is not a structure that has a.”

The goal is to first create an environment in which users can receive electronic documents no matter what corporate app they use, reborn as an electronic document-based value-added communication network (VAN) in which core data is distributed.

Reporter Kim Yeon-ji.