SK Planet expands decentralized identity infrastructure through purchase of MOCA coins

SK Planet announced on the 2nd that it plans to introduce issuance and verification of credentials (identity verification information) based on the Moca Network's decentralized identity information network by purchasing Moca (MOCA) coins on the open market. It also announced plans to offer MOCA coins as a new reward mechanism to OK Cashback Oki Club users.

The Moca Network is the flagship project of Animoca Brands, a global Web3 company headquartered in Hong Kong, and is the world's largest decentralized digital identity information network. Earlier in February, SK Planet integrated AIR, the Moca Network's core product, into its membership service 'Oki Club', unveiling a service that links traditional membership data such as points and subscription history to blockchain accounts.

SK Planet said the purchase is part of a strategic move to adopt the Moca Network's enterprise decentralized identity infrastructure. At the same time, the company will integrate AIR, the Moca Network's core product, into its ecosystem to provide zero-knowledge proof-based identity verification services, and will offer services that guarantee data sovereignty and interoperability to 29 million SK Planet users. The newly purchased MOCA will also be used in the user reward system.

SK Planet is applying AIR to its platform as part of expanding the decentralized identity information network. By integrating Moca Network's AIR into its platform, SK Planet has ensured that private data is verified only when a user explicitly approves it at 95,000 partner merchants. This guarantees data sovereignty, and information generated on SK Planet can be directly verified by other AIR partners on the Moca Network, securing interoperability between platforms.

Kim Gyosu, Head of Business at SK Planet (CBO), said, "Through cooperation with the Moca Network, we can actively roll out decentralized identity information and private verification services to users and merchants," and added, "We plan to expand Oki Club benefits to be paid in MOCA coins while returning data management rights to users. This is a strategic measure to meet privacy and global digital identity standards."

Kenneth Shek, representative of Moca Network, said, "SK Planet's purchase of MOCA coins to diversify customer benefits, and its adoption of AIR's infrastructure integration and zero-knowledge proofs, is an important milestone in returning data sovereignty to users at the corporate level." He added, "With SK Planet joining the Moca Network's identity information ecosystem, and merchants verifying information through user consent, large-scale user platforms can adopt decentralized identity information to guarantee privacy and provide utility."