IriTech reveals iris biometrics solution for online transaction security

Friday 29 November 2019 13:16 CET | News

IriTech has unveiled the secure ID management for blockchain applications based on biometric iris recognition.

As per Biometric Update, the company’s iris-locked code tech and its IriKey hardware wallet make it practically impossible for hackers to access user funds. This is due to the combination of live iris checking with the private key. Moreover, IriTech mentioned that the tech can be used with smart contracts to secure international money transfers, as well as for access control, healthcare, social connections, and other areas of security concern. IriTech is currently working with the governments of India and the Philippines.

The IriKey is designed to provide a built-in near-infrared iris camera and onboard software, in order to ‘mix’ or ‘lock’ the wallet’s seed with the owner’s biometric data. After the seed is generated, the original or the ‘unlocked’ seed and the raw biometric data are forensically deleted.

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Keywords: Iritech, online transactions, security, iris biometrics, encryption, iD, management, blockchain, wallet, iris recognition, private key, security, biometric data
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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