April 21, 2014 -
A biometric bitcoin ATM has been unveiled at a mall in Sydney, Australia. This is the first of many to be rolled out across the country, and it uses a combination of biometrics to register and verify user identities.
According to a report in The Guardian, the ATM – deployed by Australia Bitcoin ATMs — allows people to buy and sell bitcoins or exchange them for cash. Registration requires government-issued IDs, from which facial images are compared using a camera and a live image. Users also register palm prints, which is used to verify identity in future transactions.
The particular ATM was manufactured by Robocoin, which is the same company that provided the first bitcoin ATM in Vancouver, Canada.
Bitcoin, which is currently the best-known cryptocurrency, has seen the development of a few other biometric tools for authenticating users.
Reported previously in BiometricUpdate.com, Bionym announced earlier this year that the Nymi – it’s wearable electrocardiogram authentication device – will launch with a Bitcoin wallet as one of its initial applications.
In addition, SmartMetric earlier this year said that it had developed and would soon launch, the SmartMetric Bitcoin Card. According to the company, this card would contain an embedded fingerprint sensor.
At the time of writing this post, the current price for 1 bitcoin is US$493.20.
It is unclear if the Robocoin ATM deployed in Australia is outfitted with exactly the same technology, but the Robocoin bitcoin ATM rolled out in Austin, Texas, uses a palm vein scanner from Fujitsu, as reported in CBNC earlier this year.