The term “palm scans” makes many people a little nervous. Many imagine that their “fingerprints” fall into the wrong hands or that they reveal too much of themselves. In the world of decentralized blockchains, where processes are transparent and there is no central unit that could abuse or sell our data, such scans make more sense.
Benefits of venous biometry
IOTA even wants to use it to protect our personal information and has developed IAMPASS, which scans the veins of our palms to give us access to a variety of services without revealing information such as our email address, bank account, address and the like. This could also be beneficial for businesses, as less money needs to be invested in security systems that protect user data. Instead of disclosing personal data to a central organization and entrusting them to it, information is stored securely via the Tangle-DLT. We only verify ourselves through our own blockchain identity: our palm. Data can be shared with third parties by scanning the palm of your hand alone.
The co-founder of the IOTA Foundation, Dominik Schiener, calls identity “still one of the biggest unsolved problems today”. The lack of easy identification, verification and authentication leads to problems for users and service providers. The IAMPASS-Proof-of-Concept not only makes the identity of users usable everywhere, but also leads to the fact that each user possesses his own data and has access to it himself. Whether IOTA will be able to penetrate the DLT market through the technology and whether the purchase of IOTA may even be driven by it will become clear.
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Venenenbiometrie could protect our bank data and more
Tangle wants to use the veins of our hand to verify our identity. The so-called venous biometry uses the pattern of our veins and the blood flow to identify us. Both remain the same throughout our lives and thus lead to a clear identification. By scanning, we could make use of a number of services without having to enter our data and rely on a central location. This could include our bank, car rental or other travel services and much more where a lot of highly sensitive data is required from us and where it is centrally stored, possibly even forwarded to unknown third parties or resold.
The authentication through the veins of our hand is “highly accurate, hygenic and designed to reduce counterfeiting, forgery and other illegal activities that can be used to access important information and security areas,” says Schiener.
Interaction between Blockchain and Internet of Things
IOTA aims to develop and improve the interaction between Blockchain and the Internet of Things. IOTA Tangle, over which IAMPASS runs, is a distributed ledger technology developed for the Internet of Things. The goal of Tangle is to network entire cities, writes Invest In Blockchain. It should allow improved and more practical systems and secure data transfers, as well as offering free, instant payments, explains the website.
IAMPASS is the product of a technology company from Singapore. The company’s goal is compatible with that of Tangle: to create decentralized products that can be easily used and deployed by users. With systems such as IAMPASS, the user should be in the foreground and find his way in a networked world without having to forego important things such as security or unnecessarily restrict himself in this area. This and many other developments contribute to the fact that crypto currencies also become more popular in everyday life, which in turn has a positive effect on their rates.