According to the initial publication, „SK Telecom, LG Yuplus, KT, Samsung Electronics, KEB Hana Bank, Woori Bank and Koscom have signed a joint enterprise agreement on the block-based mobile electronic certification service.“ Keep the term „joint venture“ in mind. I think this can be read as an agreement for the creation of a new business entity around this technology. From what I can tell, the initial press release – issued by SK Telecom – does not indicate that the agreement means that they are creating a brand new blockchain company (as indicated in the secondary reports). If they don`t build an entirely new blockchain, what does the deal mean? The conclusion of the agreement is necessary before the use of the information. The contractual procedure is as follows. To solve the data integrity problem, intelligent contracts based on theloop`s proprietary blockchain engine, Loopchain, were used to create CHAIN ID. Intelligent contracts are self-fulfilling contracts with the terms of an agreement that have been written directly in lines of code. Smart contracts ensure the implementation of network rules, make data safe and complete, while reducing the risk of fraud or malicious change. Two other companies have been listed: LG Uplus and KT. Although I have not been able to identify direct connections with ICON or KOFIA, I think it is more likely that these entities will use the solution of other entities which, in this case- is chainID. (If we can accept that Samsung, for example, will use ChainID, it is certain that the others are probably too, otherwise such an agreement does not make sense). On the other hand, ICON signed an agreement with SK Planet, another company of SK Telecom (another company called today): here`s what could have happened: with the permission of the authority that arrived with the inscription of „my-ID“ in the „Innovative Financial Services and Regulations Sandbox“, these companies – most (if not all) of which have long worked with ChainID / my-ID – felt comfortable to advance with a commercial agreement. On the one hand, you can choose to use a technology that a) a) with other similar companies has been implemented and tested for at least two years (by the KOFIA partnership) b) has the administrative authorization of the Korean government (which is crucial for banks), and c) has patent protection.