Starting from early 2019, Korean overseas embassies-and consulate offices-notarized official documents will be seamlessly certified and authenticated online across concerned parties, because the Korean government plans to adopt a blockchain technology to certify the authenticity of the documents in real time.
The Ministry of Foreign Affairs and the Ministry of Science and ICT said on Dec. 4 that they will complete the implementation of a blockchain-based public document cross-certification platform until the end of December.
The build-up project is part of the government-led 6 blockchain-based public pilot projects, key to the government-sponsored blockchain technology development initiatives.
The pilot project will allow all interested parties to simultaneously access notarized documents and certificates stored in the blockchain network and then certify their authenticity in real time.
For example, the ministry of foreign affairs, domestic banks in Korea, and Korean embassies and consulate offices in overseas countries can share all information across the blockchain-based cross-authentication platform.
Assume that you are a Korean residents living in Japan or LA and want to take a bank loan from domestic banks in Korea, but instead of taking a flight to Korea to apply for the loans, you would designate your relative as a proxy to represent you in the deal with the bank.
You have to get Korean embassy or consulate office in Japan or LA to notarize your letter of proxy and send it to the bank to inform that the relative will work as a proxy. Effective from sometime in the first quarter, 14 domestic banks can access the blockchain-based cross-certification platform to certify your notary proxy documents on line in real time.
According to the ministry, the pilot services will serve overseas residents living in LA and Japan in the first place beginning with sometime in the first quarter. By 2020, the service will be played out in the full swing to string together all Korean offshore embassies and consulate offices with 14 domestic banks and other related government offices.
Once it proves technologically feasible, the ministry will scale up it and then push ahead to set it as an international standard for a blockchain-based e-Apostille platform, which will allow member countries of the Apostille treaty to share and cross-certify various public documents using the blockchain technology
The Apostille treaty is an international treaty, which aims to abolish the requirement of legalization for foreign public documents. The convention stipulates that a document issued on one of the signatory countries can be certified for legal purposes in all the other signatory states.
Written by Kang Jin Kyu firstname.lastname@example.org
Edited by Jason Kang email@example.com