Korea’s fintech company Coinplug said Wednesday that it had signed a memorandum of understanding (MOU) to create “Seoul Metro Stay,” a smart tourism platform, with WeHome, a cooperative-type home sharing startup, and Seoul Metro. Seoul Metro Stay is a service platform combining tickets for sharing accommodations near subway stations, subway tickets, admission tickets to nearby sightseeing spots and travel information for foreign tourists.

Coinplug plans to unveil actual use cases for decentralized IDs through this project. Under the agreement, the three companies will show accommodation-centered trial services in Hongik University, Anguk, Itaewon, Gangnam and Myeongdong stations in June and expand the project by applying IDs, authentication and payment systems to be provided by Coinplug later.

“Meta ID software development kit (SDK),” an ID service based on Metadium, Coinplug’s identity-specific blockchain platform, will be exploited as the ID and authentication-related service. Coinplug’s own blockchain-based payment process will be applied as a payment system.

“We expect to show use cases for decentralized IDs by offering travel-related services like accommodation, mass transit and tourism sites through Seoul Metro Stay,” said Coinplug CEO Ryan Uhr, adding that “we will open the data market linking companies with individuals and provide tailor-made services for travelers based on the relevant platform.” /yjk@decenter.kr

Janice Yunji Kim