Fintech firm Coinplug said Wednesday that it joined in the SK Telecom-led blockchain-based identification verification project.

SK Telecom and eight companies had formed a consortium to develop the private sector-led ID verification project.

Participants in the consortium are SK Telecom, LG Uplus, Coinplug, Haechi Labs, SK Planet, Korea Securities Computing Corp. (KOSCOM), KEB-Hana Bank and Woori Bank.

The consortium started constructing an online ID verification platform. It would develop a platform for mobile IC Card services, a platform for helping startups raise capital and a platform for assisting colleges and associations issue and manage certificates.

Coinplug would join hands with SK Telecom to develop a platform for issuing mobile ID cards and other certificates. Coinplug said the platform would upgrade user-friendliness and lower social cost in the issuance and management of various types of licenses.

Coinplug is Korea’s largest blockchain patent holder, according to the company.