RaonSecure (KOSDAQ : 042510)
The Vanguard in Digital Identity Transformation

Established over a decade ago, RaonSecure (KOSDAQ : 042510) has solidified its position as a global leader in digital identity management. Under the leadership of CEO Soon-Hyung Lee, PhD, the company is recognized for its innovation and reliability, serving clients across Korea, the U.S., Japan and Southeast Asia. It also actively engages with a board seat on respected associations such as the FIDO (Fast Identity Online) alliance and ADIA.

In the digital era, where identities serve as the gateway to essential services and transactions, RaonSecure’s cutting-edge solutions address the complexities of identity management in cyberspace. At the core of its offerings is the OmniOne Digital ID. Developed using established technologies and adhering to international standards, OmniOne Digital ID represents a pivotal advancement in the sphere of digital identity management, promising efficiency and security in safeguarding personal information and online interactions.

The innovative approach enables the integration of various blockchain technologies as plug-ins to enhance identity and credential authentication processes.

Adhering to best practices, OmniOne Digital ID prioritizes security and privacy by storing only public keys and metadata, deliberately omitting any personally identifiable information (PII) from the blockchain. This strategy focuses on the metadata of verifiable credentials — including issuers, expiration dates and issuer signatures — to cultivate a secure and privacy-centric digital identity ecosystem.

We believe the conventional digital id system with qr code for authentication and identification has limited usage and is potentially exposed to tampering, forgery and other scanning risks. we hope to share the best practice using hybrid digital identity model, using schemes from decentralized model, blockchain technology and adopt practical features from self-asserted identity

Consider a practical application of the OmniOne Digital ID; verifying legal age to purchase alcohol at a convenience store. Traditional methods require disclosing all personal information that appears on an ID card, such as birth date, gender and address. However, OmniOne Digital ID's self-sovereign identity model empowers individuals to prove that one is an adult without disclosing their personal information by utilizing proof of knowledge technology, which can meet authentication requirements and strengthen privacy protection.

RaonSecure's implementation of distributed ledger technology and decentralized blockchain nodes stand in contrast to traditional, centralized authentication servers that depend on continuous communication for verification. OmniOne Digital ID's blockchain-based verification operates independently of a central authority, mitigating the risk of unwarranted surveillance and preserving transaction histories with privacy similar to that of offline, physical ID transactions without governmental oversight.

Breakthroughs in Service: Harnessing User-Centric Protocols

RaonSecure's client engagement strategy exemplifies a bespoke approach to facilitate the frictionless adoption of digital identity solutions across industries. The process commences with a comprehensive evaluation of client's requirements for a resilient digital identity infrastructure.

At the outset, the RaonSecure team engages in close collaboration with clients to grasp their specific goals, which may range from digitizing existing ID systems to conceiving entirely new digital identity architectures. This initial stage is dedicated to an in-depth analysis of the digital ID platform's use cases, focusing on the application of verifiable credentials to accurately and securely represent identity or qualifications.

Subsequent discussions pivot to defining the scope of issuance and verification services, aiming to achieve interoperability and broaden the ecosystem to include a wide array of issuers and service providers.

The conversation then turns to the digital ID wallet service's capabilities, which acts as the custodian for verifiable credentials. In partnership with clients, RaonSecure endeavors to craft enticing value propositions for credential holders, thoughtfully navigating the economic and incentive structures beneficial to issuers and service providers.

Finally, the incorporation of distributed ledger technology, notably blockchain, is deliberated. The emphasis is on constructing a trust platform for safeguarding privacy, enhancing cost-efficiency, optimizing performance and ensuring regulatory adherence. Leveraging proficiency in distributed ledger management, RaonSecure delivers a trustworthy framework compliant with regulatory standards and congruent with client policies.

“Our experience in various advanced digital markets, particularly in authentication and identification services, has enabled us to create and implement a highly efficient and scalable digital ID platform suitable for deployment in diverse use cases,” says Dr. Lee.

RaonSecure's foray into the digital identity industry was spurred by compelling demands from both financial and government sectors. Responding to a directive from the Ministry of the Interior and Safety of South Korea (MOIS) for a sophisticated digital ID solution, RaonSecure created the OmniOne Digital ID. This initiative has evolved into a comprehensive technology framework capable of managing an array of credentials, including driver's licenses, government employee IDs and veteran IDs.

The Heart of Secure Interactions: OmniOne Digital ID

“We believe the conventional digital ID system with QR code for authentication and identification has limited usage and is potentially exposed to tampering, forgery and other scanning risks,” says Dr.Lee. “We hope to share the best practice using hybrid digital identity model, using schemes from decentralized model, blockchain technology and adopt practical features from selfasserted identity.”

“Our ambition is to collaborate with international partners to extend our platform services. we aim to cater to markets in need of digitizing identities or credentials through our innovative omnione platform”

Flagship product OmniOne Digital ID, adheres to rigorous W3C specifications. The company actively engages with standardsetting organizations, including TTA and ISO, to ensure its solutions are synonymous with interoperability and compliance with global standards. OmniOne Digital ID transcends the limitations of conventional QR code-based and virtual ID systems by addressing critical issues such as privacy concerns, compatibility challenges and regulatory complexities. A cornerstone of OmniOne Digital ID is its trust platform, which establishes mutual confidence between issuers and users through a trust governance framework powered by distributed ledger technology.

Another distinguishing feature is its user-centric design, emphasizing the issuance, distribution, storage and verification of verifiable credentials. This protects user privacy, enhances convenience and guarantees the security and legal recognition of digital identities. Users are afforded the flexibility of using the OmniOne wallet or opting for an alternative wallet service for the management and presentation of their credentials, reinforcing the platform's commitment to accommodating user preferences.

Leveraging Decentralization for Smarter Authentication Mechanisms

RaonSecure's OmniOne Digital ID represents a paradigm shift, leveraging blockchain technologies like EOSIO and Hyperledger Fabric.

A Game-Changing Mobile License Implementation

RaonSecure has been catering to a diverse array of sectors such as government, finance, insurance, e-commerce, education, social media, travel and healthcare. In a landmark partnership, RaonSecure and the KOMSCO (Korea Minting, Security Printing & ID Card Operating Corp.) launched the mobile driver's license (mDL) in 2022. The initiative has marked significant achievements. A focal point of this project has been the strengthen the self-sovereignty of the people along with the privacy protection of users using distributed blockchain verification nodes. This innovative strategy ensures that users retain full control over their data, enabling them to manage and present verifiable credentials via their mobile wallets. It also simplifies the authentication process and enhances data privacy.

”Our experience in various advanced digital markets, particularly in authentication and identification services, has enabled us to create and implement a highly efficient and scalable digital id platform suitable for deployment in diverse use cases”

The MOIS mobile driver’s license has swiftly become an indispensable instrument for authentication and identification across both the public and private sectors. Its integration has streamlined the electronic Know Your Customer (eKYC) process, increased enrollment convenience, and empowered users to disclose only the necessary information. This has resulted in improved privacy and operational efficiency. Notably, the mDL has the same legal standing as the physical card license, reinforcing its credibility and acceptance as a legitimate form of identification.

In addition, the adoption of the mDL has transformed the digital ID ecosystem's economics. By facilitating comprehensive life cycle management of verifiable credentials, the KOMSCO enabled real-time data validity checks, as well as credential revocation and reissuance processes.

A Team of Innovators in Digital Security

RaonSecure's team is distinguished by its comprehensive expertise, which encompasses both traditional authentication methods and cutting-edge Blockchain and NFT technologies. This diverse skill set is the result of years of experience and dedication to advancing authentication and identity access management services. Since 2012, RaonSecure has been instrumental in developing sophisticated solutions for leading e-government services and internet banking platforms.

Early adoption and implementation of public key infrastructure (PKI) systems have made it a trailblazer in the technology sector, particularly within government and banking industries. RaonSecure's profound understanding of secure authentication protocols has significantly contributed to its reputation as a leader in the field. Additionally, the firm's introduction of FIDO technology to the market nine years ago marked a significant milestone in mobile app security enhancements.

RaonSecure's Vision for a Digitally-Defined Polis

Lee articulates RaonSecure's strategic vision: "Our ambition is to collaborate with international partners to extend our platform services. We aim to cater to markets in need of digitizing identities or credentials through our innovative OmniOne platform."

RaonSecure stands as a harbinger of innovation, redefining digital identity with groundbreaking solutions and establishing significant partnerships with governments and corporations around the globe. The company champions the transformation of digital interactions, ensuring individuals and organizations can embrace the digital age with assurance, ethical standards and peace of mind.

Looking forward, RaonSecure is poised to launch an open-source iteration of its platform, empowering organizations to migrate from conventional digital IDs to robust, blockchain-enabled solutions with verifiable credentials. In concert with many governments around the world driving digitalization after pandemic, the company is spearheading the adoption of Digital ID platforms that foreground privacy and security. By merging the strengths of decentralized and self-sovereign identity models with the regulatory frameworks of central authorities, RaonSecure is smoothing the path for widespread digital ID integration, underscoring its commitment to fostering a secure, privacy-centric digital ecosystem.