IriTech’s IriSafe partners with GoChain to develop biometric blockchain solutions
Distributed ledger company GoChain has partnered with IriSafe, a collaboration between IriTech and Blockchain Industries Inc., to jointly develop blockchain-based identity management solutions.
Blockchain Industries is a publicly traded merchant bank focused on the international blockchain and cryptocurrency sectors. It provided guidance for the agreement, under which GoChain will collaborate with IriSafe to leverage IriTech’s biometric hardware and software development kits for blockchain identity management solutions using highly secure iris scanning technology tested and certified by governments. The solutions will be built on GoChain’s high-performance public network based on web3 technology for faster transaction speeds and enterprise-level support, and the companies say they will be the first of their kind.
“Blockchain-based digital identity management solutions are sorely needed, and we are thrilled to partner with IriSafe and Blockchain Industries to offer this unforeseen level of security,” says Jason Dekker, CEO of GoChain. “IriTech’s iris recognition algorithm is truly revolutionary, and we look forward to exploring all its applications for the blockchain.”
“We are incredibly fortunate to work with GoChain, the fastest, most reliable, web3 based blockchain protocol,” adds Dr. Daehoon Kim, who is CEO and president of both IriSafe and IriTech. “This partnership presents the opportunity to be an industry leader in the blockchain-based identity management space.”
The IriKey hardware wallet, which uses iris data to create a “locked seed,” will be the first product released by IriSafe. Unlike other hardware wallets, IriKey uses iris authentication instead of a “seed phrase” as a restore mechanism in case the device is lost or destroyed, making it more convenient and less vulnerable to breaches, according to the company.
Combined solutions from GoChain and IriSafe could potentially be used for national IDs, private keys, e-voting systems, user rights, and refugee food distribution.
IriTech seems to be focused on the blockchain ecosystem for partnerships recently, with a deal to provide customer authentication technology to tokenized precious metals platform Gigzi announced in September.