IOTA Foundation announces palm vein biometric system powered by distributed ledger
Non-profit distributed ledger and permission-less ecosystem organization the IOTA Foundation has announced that its Tangle data structure will power a new palm vein biometric authentication system.
The IAMPASS system proof of concept is the latest piece in IOTA’s Smart City initiative. IOTA says it provides immediate, reliable, and secure digital identity verification, allowing enterprises to more effectively manage and secure growing amounts of user data from digital devices than traditional centralized identity service providers. IAMPASS also provides cost savings for businesses by eliminating authentication and verification fees from third-party security services, according to the announcement.
Tangle is a protocol and distributed ledger of transactions stored across a decentralized network, using a directed acyclic graph (DAG) instead of blockchain.
“Identity is still one of the biggest unsolved problems today, as the inability to easily identify, verify and authenticate causes significant friction for users and service providers worldwide. This is why we are excited about the IAMPASS Proof of Concept, which uses the IOTA permissionless distributed ledger to make identity not only portable, but also give users access and ownership over their own data. With the maturation of identity solutions like these, we will see the IOTA ecosystem providing a key technical puzzle piece for the adoption of distributed ledgers,” said Dominik Schiener, co-founder and co-chair of the IOTA Foundation.
The organization thinks its open-source distributed ledger technology, which is designed for scalability, zero-cost transactions, and data integrity, and does not include miners, is uniquely capable of handling the billions of transactions per day which will be necessitated by the Internet of Things.
IOTA and the European smart city consortium +CityxChange were formally invited by the European Commission to become a new smart city lighthouse project in July, and experiment with digital services and energy transformation.
Palm vein biometrics have been deployed in an increasing range of situations this year, including recently for monetary transactions in Japan and to secure patient records at a U.S. healthcare network.