Korean Firms Integrate Iris Biometrics, DIDH for ‘Most Secured’ Blockchain Data System, Metaverse
Iris biometrics specialist IriTech and South Korean company Institute of Blockchain Technology (IBCT), which specializes in blockchain decentralized data platforms, have established a joint venture to create a self-managed storage solution that they call the “most secured system in blockchain/metaverse application. “
Using iris biometrics will mean one wallet per person, and no biometrics or private keys are stored which the firms believe 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 tackle the problem of key recovery and management in blockchain and metaverse settings.
IriKey uses iris recognition to circumvent the issues with other hardware wallets that use secret seed backups and PIN logins. In this case an ‘Iris Lockcode’ is generated and combined with the seed. The seed can only be retrieved with IriTech’s proprietary iris life detection.
IriKey can be connected remotely to a mobile device or hardware wallet, or installed as an app on a device.
DIDH storage in Web 3.0
IBCT has developed a decentralized data platform based on the Decentralized Identity Data Hub (DIDH) approach. This is an open ecosystem for self-sovereign identity (SSI) where the data owner can directly control their stored data or anything from sensitive health records to NFTs.
DIDH is a Web 3.0 technology formed via the integration of data encryption and sharing based on Blockchain, IPFS distributed storage system and distributed storage of private keys.
The DIDH approach means that a person’s data is not stored on a third-party server, protecting it from any vulnerabilities there. There is no risk of losing a private key when an iris is required with Iris Lockcode.
The biometrics are not sent to or stored by a third party, the technology does not store private keys, so the system satisfies the GDPR conditions for handling personal information.
Unique properties
By using iris recognition, IriTech CEO Daehoon Kim says that a person can only have one wallet account: “Combining ‘1 Person-1 Wallet (Account)’ and Blockchain DIDH has huge applications in the Blockchain/Metaverse such as finance, digital assets (including NFT and CBDC), and important data exchange, where identification and security with data integrity are essential.”
Where anonymity otherwise allows a person to have multiple wallets, the new approach limits a user to just one, which has benefits for eKYC and AML.
Iris applications
In addition to unlocking a hardware wallet, the 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 its Iris Recognition System can be installed on the same cameras used for eye tracking.
The firm’s recognition of vibrancy and the fact that the systems work in sunlight are also expected to help the adoption of the technology.
Article topics
biometric liveness detection | biometrics | blockchain | data storage | iris biometrics | iris recognition | IriTech | metaverse | self-sovereign identity
