How long does it take to issue a student ID card? Blockchain technology is here to shorten the process from a few weeks to a few days. In the fourth revolution era, new technology is coming into campuses. As people’s lives are changing at a rapid speed in the fourth industrial revolution era, Korea University (KU) signed a memorandum of understanding (MOU) with KEB Hana Bank and took a step forward to cooperate in the field of blockchain.
The blockchain technology is approaching people’s lives closely. Unlike the past way of saving data in one central server, technology nowadays disperses data to every participant. An advantage is convenience because it does not need intricate procedures via a central server. Likewise, it is extremely difficult for traders to forge or falsify data because the system is open and irreversible. Thus, the importance of blockchain technology is highlighted in the hyper-connected society of this era where credible information is of most importance.
KU started to cooperate with KEB Hana Bank to be a pioneer in the field. On April 19, they concluded a MOU on four tasks: sharing data, developing services, supporting start-ups and working on a collaborative research project. The first scheme is to reform the process of issuing student ID cards. When the system is operated, students no longer need to wait for a long time because their registered information can be swiftly shared through the blockchain network which eliminates the unnecessary effort for transmission and verification. The significance of this cooperation lies in its goal to apply the technology to the real life of customers.
▲ Professor In Hoh Peter
Consequently, this change is going to be a part of the project on developing a data sharing platform based on blockchain. “We can form a standardization of platforms by the pilot business on campus,” said Professor In Hoh Peter (Computer Science and Engineering). Moreover, the introduction of blockchain in everyday life on campus is expected to provoke further revolutions. In the future, Professor In anticipated that students will no longer need to upload all the materials each time for recruitment resumes.
Lee Young-Hwan, the Deputy Director General of the Bigdata Convergency Business Center (BCBC) encouraged students’ participation to express their opinions on what can be improved by technologies. “BCBC tries to converge scientific technologies with humanities and social science to solve everyday problems by deciding a proper topic by hearing people’s opinions,” he said.
▲ Deputy Director General Lee Young-hwan
The era is changing and the blockchain technology is expected to be a part of daily life. KU offers an opportunity for students to experience a more convenient campus life and to prepare themselves for the new era. The MOU with KEB Hana Bank is anticipated to produce an efficient student ID card service using blockchain and expand the possibilities of the technology's development.