Korean companies integrate iris biometrics, DIDH for ‘most secure’ data system for blockchain, metaverse
Iris biometrics specialist IriTech and his South Korean company Institute of Blockchain Technology (IBCT), which specializes in decentralized data platforms for blockchain, have formed a joint venture to create an autonomous storage solution that they call it the “most secure blockchain system / metaverse application.
Using iris biometrics would mean one wallet per person, and no biometrics or private keys are stored, which the companies say means GDPR compliance. The cameras can even be installed in AR and VR devices that use eye tracking.
Biometric access for hardware wallet
IriTech develops iris scanners and IriKey hardware wallet integration. The IriKey solution promises to solve the problem of key recovery and management in blockchain and metaverse settings.
IriKey uses iris recognition to circumvent issues with other hardware wallets that use secret seed backup and PIN code logins. In this case, an ‘Iris Lockcode’ is generated and combined with the seed. The seed can only be retrieved with IriTech’s exclusive Iris Liveness Detection.
The IriKey can be connected externally to a mobile device or hardware wallet, or installed as an app on a device.
IDH Storage in Web 3.0
IBCT has developed a decentralized data platform based on the Decentralized Identity Data Hub (DIDH) approach. It is an open self-sovereign identity (SSI) ecosystem where the data owner can directly control their stored data or any other type, from sensitive health records to NFTs.
DIDH is a Web 3.0 technology formed through the integration of Blockchain-based encryption and data sharing, IPFS distributed storage system, and distributed private key storage.
The DIDH approach means that a person’s data is not stored on a third-party server, which protects it from any vulnerability. There is no risk of losing a private key when an iris is required with Iris Lockcode.
Biometric data is neither sent nor stored by a third party, the technology does not store private keys, so the system meets GDPR requirements for personal information management.
Using iris recognition, IriTech CEO Daehoon Kim says a person can only have one wallet account: “Combining ‘1 Person-1 Wallet (Account)’ and Blockchain DIDH has huge applications in Blockchain/Metaverse such as finance, digital assets (including NFT and CBDC), and large data exchange, where identification and security with data integrity are essential.
Where anonymity would otherwise allow a person to have multiple wallets, the new approach limits a user to just one, which has benefits for eKYC and AML.
Beyond unlocking a hardware wallet, iris-based technology is suitable for use cases where the eye is already present, such as augmented, virtual, and mixed reality settings.
Headsets, which are expected to become increasingly popular, will rely on eye tracking that relies on cameras. IriTech says their iris recognition system could be installed on the same cameras used for eye tracking.
Detection of the company’s liveliness and the fact that its systems operate in sunlight should also help the adoption of the technology.
biometric liveness detection | biometrics | blockchain | data storage | iris biometrics | iris recognition | IriTech | metaverse | sovereign identity