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Blockchain-based Digital Asset Trust Verification Service

Bytomasian

Aug 8, 2022

The Korea Minting and Construction Corporation announced on August 8 that it will promote the blockchain-based ‘digital asset trust verification service’ project to resolve the authenticity and copyright infringement issues of NFT.

The Korea Minting and Minting Corporation, which formed a consortium with Mopping Eye, was selected as a pilot operator in the ‘2022 blockchain private sector demonstration and diffusion project’ conducted by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA), and started to develop platforms such as blockchain structure design.

This project is attracting attention because it cooperates with the blockchain business with the morphing child, which operates the NFT marketplace and provides the meidata-based metabus service.

An official of the Korea Minting and Civil Engineering Corporation said, “Based on the know-how of preventing counterfeiting accumulated in money and passports, we have become a watchman to build a trust society through prevention of illegal transactions and authenticity confirmation in the digital world.”

NFT is not able to forge through blockchain technology, so it is popular as a digital asset for ‘ownership’ of WEB 3.0. However, in the process of generating digital works as NFT, there may be errors in combined information, or if the rightless person steals another’s work.

The Korea Minting and Civil Engineering Corporation will verify the authenticity of NFT and provide verification information to the NFT market by connecting copyright information. By providing the verification information to the NFT market, it will lead the digital asset virtuous cycle ecosystem through user protection due to defective NFT, copyright protection base through copyright confirmation of digital works, and improvement of NFT distribution reliability through issuance and inquiry of certificates.

“We will be able to protect our customers and secure the soundness of the trading market by establishing a system that can verify the authenticity of the NFT,” said Ban.

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