|Title||A Study on the Development of the Next Generation Electronic Authentication|
This paper is to derive problems of the electronic authentication system and to show the whole points to be considered for enterprises and public institutions using e-commerce by analyzing electronic authentication system and the present status of internal and external services. Electronic exchange of information renders to increase the number of transactions and to fasten its transactions. The information technology has evolved to easily transmit information from one to the other. The more its number and speed increase, the more the security of electronic authentication is required. The authentication that the claimant is a subscriber is achieved by proving to the verifier that the claimant controls the token registered to the subscriber. The verifier should be a relying party. In Korea, a government has taken this part. In other words, Electronic authentication in Korea is a government-wide partnership that is supported by the Ministry of Science, ICT, and Future Planning. In Korea, Authorized authentication was not designed to contribute to play its role in electronic commerce. However, it was considered a safe method and became widely used for electronic commerce. Due to the dominant power of an authorized electronic certification in electronic commerce market, it has prevented from emerging new kinds of electronic authentication.
Recently, the demand for new kinds of electronic authentications increases because of the increasing uses of diverse electronic devices and payment options.
The increasing demand for new methods of electronic authentication indispensably requires the technical and legal evolution. In particular, the environmental changes of Information and Communications Technology (ICT) and the large number of increased internet application create the diverse ways for authentication. The electronic commerce market has demanded more convenient and safer options for electronic payment because of various access to internet. This paper has tried to include new technologies which can replace authorized certification and other systems with regard to electronic certification in such as the United State, China, Germany, Japan, and England. In addition, this paper has tried to show what financial technology, also known as FinTech, is and what it has played in the electronic commerce market. This paper focuses on how FinTech has the effect on the market for payment options. In order to encourage the development of the FinTech industry and develop new financial services combined with FinTech, a Korean government should take a released policy for electronic authentication which is considered strictly regulated and dominant Korean e-commerce market. Some enterprises have introduced new fintech technologies for business models.
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