A high-performance Ethereum/Web3 compatible blockchain, GoChain, announced it has partnered with IriSafe, Inc. and Blockchain Industries, Inc. aiming to develop blockchain-based identity management solutions.
IriSafe is a Singapore-based joint venture between Blockchain Industries, Inc. and IriTech, Inc. The latter has provided identity solution to several governments, including India, the US, and the UN, as well as private firms throughout the world.
With guidance from Blockchain Industries, GoChain and IriSafe have entered a binding joint development agreement today.
GoChain will leverage IriTech’s biometrics hardware as well as software development kits in collaboration with IriSafe to offer the world’s first blockchain identity management solution by using certified, government-tested and ultra-secure iris-scanning technology. The solution will be built on GoChain’s best-performing public web3-based network, providing faster transaction speed to the users with the enterprise-level support that aren’t available with traditional identity management solutions.
Jason Dekker, CEO of GoChain, said –
“Blockchain-based digital identity management solutions are sorely needed, and we are thrilled to partner with IriSafe and Blockchain Industries to offer this unforeseen level of security. IriTech’s iris recognition algorithm is truly revolutionary, and we look forward to exploring all its applications for the blockchain.”
Dr. Daehoon Kim, CEO & President of IriSafe, said –
“We are incredibly fortunate to work with GoChain, the fastest, most reliable, web3 based blockchain protocol. This partnership presents the opportunity to be an industry leader in the blockchain-based identity management space.”
An IriTech-empowered iris recognition algorithm, IriKey, is the first product to be released by the joint venture, IriSafe. IriKey is a breakthrough hardware wallet utilizing IriTech technology to lock a seed/key with the user’s iris data. The ‘locked seed’ can be stored anywhere.
In any rare chances, if the hackers gain access to the locked seed, then they still can’t retrieve the original seed without the live irises of the owner. Other hardware wallets use seed phrases like restore mechanisms which are very inconvenient and vulnerable to the security breaches. All of the IriKey users can easily recover their assets using their locked seed and iris scan, in case the device is lost.
The blockchain ID management solution will have several applications, including national IDs, e-voting systems, private keys, user rights, and refugee food distribution.
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