India to Take Money Past Bitcoin into Biometric Scans For Every Citizen
In a matter of one month, India may enter some sort of economic time warp. On Nov. 8, 2016, the Indian government and banking system implemented its demonetization policy that removed its most popular currencies out of circulation, almost immediately. Now, the Indian government has announced plans to implement a fully-digital, biometric payment system less than 30 days later, and over 10 mln daily transactions in India have already been performed. Introducing the UIDAI. The Unique Identification Authority of India has developed a mobile app called Aadhaar which can already handle 10 crore,....
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India is touting biometric security as the next step in payments, shunning cash and cards in a bid to make the economy secure and free of corruption. India Gov’t: Biometrics Future Of Payments. The Unique Identification Authority of India (UIDAI), which is working on issuing every Indian citizen with a 12-digit ID called Aadhaar, should form the basis for transactions together with mobile-based iris or thumbprint recognition. It is the latest government announcement following India’s flash demonetization November 8, in which higher-value rupee notes were suddenly decommissioned. Bitcoin....
Bitcoin wallets are already known to be very secure, as most feature a multisig verification and provide both public and private keys for users. However, recent hacking incidents and online theft could lead some companies to consider biometric authentication. Just recently, HYPR Corp. announced the availability of its biometric authentication SDK which could be used for third-party integration. This means that bitcoin wallets could be able to add yet another layer of security to their services. Bitcoin Wallets Authentication. The HYPR SDK enables enterprises to seamlessly implement....
Security is of great importance to the world of Bitcoin and blockchain technology, and strategic partnerships will bring more legitimacy to this industry. Gemalto, a company, working on security solutions who recently partnered with Symbiont, has introduced their biometric security platform. The primary goal is to deploy this new feature in consumer-grade electronics shortly, which would impact Bitcoin adoption. Gemalto Focuses on Biometric Security. Consumer electronics need to be protected properly, and username and password combinations are a thing of the past. Particularly where....
Two-factor authentication is an industry standard pushed widely by the Bitcoin community over the past few years. Most users are pressured to secure their funds and accounts to the maximum degree as it's their money and their responsibility. Hyprkey is stepping up the industry standard with their biometric tokens based on three-factor authentication. At only the size of a nicotine patch, the HYPR-3 sticker reportedly secures and authorizes everything with a fingerprint. In a recent press release, CEO of Hypr Corp George Avetisov laid out a vision for the future of the extra level in....
HYPR Corp., a New York, N.Y.-based firm which decentralizes the storage of biometric data to enable secure passwordless authentication across mobile, desktop and IoT systems, has partnered with Palo Alto, Calif.-based BitGo, Inc. to extend biometric authentication to the blockchain space to secure cryptocurrency, digital assets, private keys and identities. The alliance links biometric security with the blockchain. BitGo secures more than $1 billion per month in digital assets with over 10,000 transactions on any given day. The company recently announced a new feature – BitGo Instant,....