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IOTA to power biometric system which verifies users’ identity using palm veins

Febin Jose

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IOTA to power biometric system which verifies users’ identity using palm veins
Source: Unsplash

IOTA foundation recently announced that it is planning to power a biometric authentication system that will use users’ palm vein pattern to authenticate their identity.

The proposed system will use an open source digital ledger of technology called Tangle, developed by IOTA. The new system will be called IAMPASS Proof of Concept.

The system creates a distinctive and verifiable identity for each user after scanning their palm vein pattern. This helps each individual to enable audit trails for accessing high-security platforms, secure identification and asset management. The system can also work in coordination with permissioned facilities, including “smart car charging platforms”.

Once the system is implemented, consumers will be able to manage their accounts, control their data and thwart identity theft by using the foundation’s biometric identifier.

The proposed system will use an open source digital ledger of technology called Tangle, developed by IOTA. | Source: Twitter

The proposed system will use an open source digital ledger of technology called Tangle, developed by IOTA. | Source: Twitter

Dominick Schiener, the co-founder of IOTA foundation, said that the system was made to tackle some of the biggest problems affecting the cryptocurrency space, including identity theft, and effective authentication methods. He said:

“This is why we are excited about IAMPASS Proof of Concept, which uses the IOTA permission-less distributed ledger to make identity not only portable, but also give users assess and ownership over their own data. With the maturation of identity solutions like these, we will see the IOTA ecosystem providing a key technical puzzle piece for the adoption of distributed ledgers.”

Toan Nguyen, the director of business development and cloud platform, said that Tangle’s unique design helps firms amalgamate digital identity security and personal data. He added that it is crucial for the cryptocurrency space as both the entities are crucially intertwined.



He said:

“Together, we expect the IOTA ecosystem and IAMPASS to help drive the next phase of digital identity management for high secure environments like data centers and in the smart city.”

IOTA has been very active in developing identity solutions for a plethora of clientele. IAMPASS is the newest addition to their pool of products.





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Febin Jose is a full-time journalist/editor at AMBCrypto. He believes that cryptocurrencies will navigate a volatile future and that Arsenal can still win a title. Lives around the "if it sounds like writing, I rewrite it" mantra.

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HitBTC responds to allegations of insolvency, refutes claims made by Redditors

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HitBTC responds to allegations of insolvency
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HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:



“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”





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