IOTA Foundation is a nonprofit organization that specializes in the development of DLT (distributed ledger technology) and permissionless ecosystems. The Foundation announced Monday that its open source Tangle technology will power a biometric authentification system. In the statement, the nonprofit explained that the new biometric authentication system uses a human palm vein pattern to identify and authenticate users. IOTA collaborated with IAMPASS Pte Ltd to build the technology. Certainly, the union of IAMPASS Proof of Concept (PoC) and Tangle is yet another feat in the world of human identification. In addition, it forms a part of IOTA’s bigger Smart City initiative.
The Union of Identity and DLT
In today’s business ecosystem, captains of industry have learned that the current centralized identity service providers cannot offer the access and control they need. So, as they seek an innovative alternative to the traditional identity solution, distributed ledger technology proves to be it. No doubt, this innovative technology allows for immediate, reliable, and secure digital identity verification. Moreover, it offers an advanced solution for generating and managing immutable audit trails in security-critical environments. These places include airports, data centers, and stadiums. To achieve this, DLT uses Masked Authenticated Messaging (MAM) streams from access points.
Blockchain vs. IOTA’s Tangle
No doubt, the IOTA platform transcends blockchain technology. The reason being that the IOTA Foundation developed it to deliver values to users at feeless transaction rates even as it guarantees data integrity. With that, IOTA can solve a lot of issues emanating from Internet of Things (IoT) machines and identity. For identity-related mass adoption to be feasible, scalability and feeless transactions are mandatory. These two factors have been a major challenge to blockchain-based DLT since its emergence. Putting it into perspective, viable identity-related solutions process billions of transactions every day. Indeed, this is always the case whenever human and machine identities are involved. With the aid of the Directed Acyclic Graph (DAG) and MAM, IOTA Tangle is solving real-world challenges of today.
Speaking, Nino Ulrich, Co-Founder of IAMPASS, explains further. Ulrich noted that they kicked off the DLT evaluation process with a wide range of blockchains, such as Waves, Ethereum, and Steem. Over time, the founder disclosed, they gained experience and employed use cases to identify the faults of DLT. The Co-Founder stated that they chose IOTA over others because it is intrinsically scalable, without miners and feeless.
The Co-Founder and Co-Chair of IOTA Foundation, Dominik Schiener, sheds light on the goal of the collaboration. Schiener said that identity is a big issue for users and service providers in today’s business world. He noted that they are excited about IAMPASS Proof of Concept, which gives users ownership of their data using IOTA distributed ledger.
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