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Hitachi experiments with blockchain and biometrics, introduces user fingerprints for payments

Simran Alphonso

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Hitachi experiments with blockchain and biometrics, introduces user fingerprints for payments
Source: Pixabay

Hitachi, Ltd. is the Japanese multinational conglomerate company headquartered in Tokyo, Japan. As the banks and institutions are approaching the use cases of blockchain technology, Hitachi announced to do the same. On 25th July, Hitachi put forth its idea of using blockchain to settle payments using the fingerprints of its customers.

KDDI, the telecommunication MNC, collaborated with Hitachi and is experimenting with a system based on blockchain that can settle retail payments through fingerprints of customers. The technology built by Hitachi using Hyperledger Fabric platform is an integration of blockchain and biometrics with the help of the existing coupon system.

This system is built in order to eradicate the hassle of physical payments, as it settles coupon transactions over a ‘Distributed Network’ using the biometrics of fingerprints for verification.

Hitachi News release | Source: Hitachi.co.jp

Hitachi News release | Source: Hitachi.co.jp

Hitachi on its official website states:

“Hitachi Blockchain PoC Environment Provisioning Service for Hyperledger Fabric is a service that quickly provides a Blockchain environment that connects different industries and brings about business transformation for application validation in your business.”

Hitachi further explained that when customers log in to the network they are entitled to their registered coupon credits and are required to fill biometric information. This information will be encrypted and stored in the system and the credits given to the customers will be unlocked with authorized fingerprints. During the process of an on-going transaction, the retailer will act as a node to the blockchain and the fingerprint scanner will settle the payment of the client.

Hyperledger sponsored by The Linux Foundation is working on the development and standardization of the Blockchain infrastructure based on open innovation. Hitachi has been involved in the project as a premier member since its inception and is working on the development of core functions.

Hitachi believes that blockchain makes it possible for multiple participants to cooperate securely by using the same, common and authentic source.

Hitachi introduced three features of its Blockchain system:

Fulfilling reliable operations

Regardless of the complexity of the business and the reliability of the dealer, Hitachi will run the execution of highly reliable and transparent business.

Transparency of transactions

Hitachi keeps all the data in the history format. They can trace how the value has changed. By including all the transaction history, the user is open to make any transaction transparent.

Data guarantee



Since multiple nodes are connected by P2P and each node holds data, even when trying to tamper information of some nodes, the other nodes guarantee the correct data.

Hitachi states that it has been cultivating systems to accelerate the creation of customer collaborations by providing an environment for verifying Blockchain’s features such as “reliable business execution”, “transparency of transactions” and “data guarantee” by customers’ businesses.





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SEC’s harsh crypto regulations would drive innovation away from the US to Asia, says Fred Wilson

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SEC's harsh crypto regulations would drive innovation away from the US to Asia, says Fred Wilson
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Circle-acquired Poloniex, one of the leading cryptocurrency exchanges in the world, announced the geofencing of nine assets on its platform recently. The reason revealed by them was the uncertain regulatory climate in the US, leading them to take a cautionary step fearing the Securities and Exchange Commission’s [SEC] retribution.

Fred Wilson, the co-founder of Union Square Ventures, had recently voiced his opinion that the regulatory body’s ruling to delist coins in the US crypto exchanges was very damaging. He believed that hostile policies would eventually drive away innovation from Silicon Valley, which is the “global epicenter of tech” to Asian countries. He tweeted,

“In 5-10 years when we look back and consider why the next big tech sector centered itself in Asia and not in the US, it will be the SEC’s unwillingness to create new rules to regulate new assets that will be the cause”

Citing Coinbase as an example, Wilson stated that the “most trusted/compliant/secure/safe” exchanges were based in the US. So, according to him, driving trading or liquidity to Asia is “detrimental to safety and security”.

Preston Byrne attorney at Byrne & Storm, PC responded to the above tweet stating that “alleged misconduct” in Asia would be harmful to the entire crypto-space. He emphasized that the major threat to Bitcoin adoption was the “bad actors” who need to be identified and eliminated.

Calling for the need to monitor trading regions and markets, Byrne posted,



“95% of trading volume is faked. The Bitfinex/Tether saga is insane and only just getting started. If crypto is going to be adopted, we need to have more trust in our trading venues. That requires close supervision of trading venues and markets.”

Ari David Paul, the founder of BlockTower Capital, also reacted to the post,

“Hopefully we’re not headed toward a world where voluntary commerce can be stamped out globally. So for a global asset, this will always be an issue. Fortunately, you don’t need to care. $1b in CME future volume is real and traceable. Manipulation is temporary by nature.”

Responding to the above tweet, Byrne said that $3 billion of Tether [USDT] was what kept Binance and Finex “afloat” and contributed significant volumes and were currently under the heavy check by State of New York. He also added that the aforementioned platforms were a “hair’s breadth away” from an investigation regarding fraud.





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