BC Card applies for patent for offline asset authentication via NFT

South Korea's BC Card on Sunday said it applied for a domestic patent for a non-fungible token (NFT) that can verify a user's asset details using blockchain technology in any emergency.

Through this technology, the company said, asset data can be authenticated through an NFT even if a financial company's computer system cannot be used due to loss of the paper bankbook or national disaster such as the company's computer failure, earthquake or war, BC Card added.

Card users can connect their asset data held in any financial company such as a bank, insurer or brokerage to BC Card through the My Data service on Facebook app. For no fee, the company converts the information into an image, stores it as an NFT on the blockchain and adds it to the holder's digital wallet.

BC Card said this NFT can be to verify a user's assets even if a financial company's computer system is paralyzed.

Write to Nan-Sae Bin at binthere@hankyung.com