THELOGICALINDIAN - n-a
Unikeys has apparent a biometric cryptocurrency agenda that you can verify anniversary transaction with your biometric data. It’s a huge footfall in the action adjoin artifice and could be formed out beyond the industry afore too long.
The aggregation is starting small, with a pilot arrangement in Hong Kong. But this biometric arrangement could be far added than a artifice counter-measure in the end. It could calmly be the base of a blockchain debit and acclaim agenda system.
Visa and Mastercard are already alive to alter the Chip-and-Pin – a abstinent success in the action adjoin fraud, but far from the final solution. A biometric card, though, could put an end to phishing expeditions that accept amount the industry in agreement of absolute money and customer confidence.
The Ukey agenda from Unikeys looks like any added acclaim card, but it’s about the concrete key to an online wallet that contains Bitcoin, Bitcoin Cash, Ether, Litecoin and a cardinal of added accepted currencies.
Unikeys is attractive to authorization the tech and is in talks with a cardinal of altered partners.
A Stronger Physical Key
Physical keys are annihilation new in the cryptocurrency apple and advice defended wallets that can accommodate millions of dollars of cryptocurrency. The biometric aspect is a new blow that we anticipate will be a hit.
Unikeys has partnered with MeReal Biometrics in Hong Kong, which has accountant the fingerprint technology from Sweden’s Fingerprint Cards. When the agenda is activated, the user’s fingerprint is stored as a defended affidavit key and again no affairs can booty abode after a biometric confirmation.
That would accept adored a lot of investors from aching cryptocurrency scams that are an assured allotment of of a new banking landscape. One broker (who happens to run a huge cryptocurrency and blockchain organization) is suing AT&T afterwards accident $24 million through a phishing hack.
Could This Be More Than a Key?
At the moment, this agenda is little added than a concrete key, but the abeyant is obvious. If merchants activate to acquire cryptocurrencies as payment, or Unikeys can actualize a aperture application Stripe or the congenital functionality in the Stellar Lumen framework, again this biometric agenda anon becomes a anatomic debit card.
Behind the scenes, the money may avenue to a cryptocurrency barter and catechumen to the bounded authorization currency, but this could all appear through the abracadabra of acute affairs and you would artlessly pay at the till with your crypto agenda and biometric clairvoyant as normal. That’s a center abode band-aid and in the end we’ll about-face to apple-pie crypto purchases.
Debit and Credit Cards Coming
It is an arresting anticipation and a crypto debit or acclaim agenda is broadly apparent as the abutting step. Ethereum architect Vitalik Buterin afresh appear his dream of bodies affairs pre-paid cards from a accessibility store. However, conceiving of a crypto acclaim agenda and absolutely carrying one accept accepted to be actual altered on the adversity scale, as our contempo addendum on TenX and Monaco Crypto demonstrate.
This biometric agenda is an another that could calmly alter coffer accounts, though, and abolish a all-inclusive bulk of abrasion from the acquittal process.
For now the biometric cryptocurrency agenda is a footfall advanced in the adventure for security. In the abreast future, it could be so abundant more.
The columnist is not currently invested in agenda assets.
