Blockchain technology is almost becoming the default storage platform for wealth. Users believe the platform offers a better form of security than all other traditional means. In light of this, Gigzi wants to take the security features to the next level. In a press release, the firm announced a strategic partnership with IriTech. The partnership aims to develop a biometric security solution for decentralized applications (DApps).
Gigzi is a financial system that runs on the distributed ledger technology. According to its website, the firm offers a novel means of wealth protection. Users can also invest in Gigzi metal crypto-assets, which are redeemable for precious metals. Basically, the firm provides an ingenious means for protecting oneself against risk exposure.
On its part, IriTech prides itself as the leading provider of biometric security solutions. According to the press release, the partnership seeks to push the boundaries of blockchain security. Particularly, the companies will build an iris recognition technology for the purpose of adding an extra layer of security to account access.
Dubbed Gigzi Iris, the solution sets a new benchmark in the account protection on DApps. According to a news report by FindBiometrics, the firm will build a fake iris detection component. This will help combat fraudsters who go the extra mile to steal other people’s property. Further, the news report details that the component will incorporate iris scanning video cameras. The cameras will operate in darkness, in sunlight, and can even check irises through spectacles.
Furthermore, the features will operate on laptops and PCs. In fact, IriTech is already making progress in the field with an iris scanning camera launched over 11 months ago.
Speaking in reference to the development, Gigzi CEO, Mr. El Asmar, said the solution is a great boost to security. He says the new technology is awesome in all aspects of security. According to him, Gigzi will work tirelessly to ensure the cryptocurrency space is safe. In his words,
“Gigzi is at the forefront of developing security protocols for decentralized applications and will be raising the security standard on the blockchain.”
Biometric security solutions are one of the best in the market. Particularly, iris scanning biometric equipment measures unique patterns in the iris. The colored circle of your eye is the iris. With utmost precision, the biometric equipment verifies and authenticates your identity when satisfied that the patterns match existing records.
Additionally, the firms reveal that the products will be available for commercial sale in November 2018.
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