IriTech and IBCT partner with two more companies on biometric data hubs
7 August, 2022
IriTech and its partner, the South Korean Institute of Blockchain Technology (IBCT), are teaming with ID vendor Integra Micro Systems and Pennant, a marketing consulting company, to develop proof-of-concept technologies for a decentralized ID and iris recognition wallet.
The technology will reportedly demonstrate that the Aadhaar biometric information system can be used for ID verification within the quartet’s decentralized identity data hub.
The technology relies on IriTech’s iris biometrics and planned identity authentication technologies as an additional safety system for decentralized ID verification for both enterprises and governments.
The proof of concept shows that the institute’s blockchain platform, which they style DIDH, combined with IriTech’s iris recognition and Iris Lockcode technology can supplement India’s Aadhaar system, according to institute CEO Dongwook Kim.
“There is a risk of lost or stolen [credentials] in the wallet using the existing private key, but there is no risk of lost or stolen [credentials] when using the Iris Lockcode technology with a decentralized ID data hub platform using iris recognition,” he adds.
Kim says ID data hubs with biometric capabilities for various applications, including financial information, health information and digital assets will be popular.
The original partnership to integrate IriTech’s biometrics with the institute’s DIDH was announced just weeks ago.