Yoti biometric digital ID secures COVID-19 test results, Indian crypto exchange
Dubbed Frankd, the test takes 13 to 25 minutes to process the results, does not need to work with a lab, and was validated for 100 percent sensitivity and specificity by Gdańsk University of Technology. It uses a patented enzyme instead of the same indicators used in RT-PCR tests, making it more scalable. For high accuracy, the virus is amplified in the sample with a portable machine analyzer.
The company claims Frankd delivers faster results than the reference test recommended by the World Health Organization. Once the person tested has given consent, the result is sent to their free Yoti digital ID app. The test is priced at £10 (roughly US$12).
“We are extremely pleased with the quality of the Frankd test and the contribution it will make towards the fight against the coronavirus pandemic and its damaging effects on public health and society,” said Dawid Nidzworski, founder and CEO of GeneMe.
GeneMe is currently negotiating with multiple European businesses and governments to provide millions of tests in the coming months. The company claims it expects to deliver some 5 million tests as of August. Analyzer machines can process 90 tests every 30 minutes, which makes it scalable for mass testing.
Organizations that have already partnered with Yoti such as the NHS can use the app credential management platform to issue digital IDs which can be linked to the digital test results. Users can securely share their test results both in person and online as a result of Yoti’s anti-fraud measures. Yoti is currently available in English, but more languages will soon follow.
Yoti identity verification platform secures Indian cryptocurrency exchange
Yoti has also partnered with Indian cryptocurrency exchange Shiftal to provide it with biometric digital identity and document scanning for automated and expedited KYC verification, the company announced.
So far, Yoti’s free app has been downloaded by more than 7 million users who can share their identity at the click of a button or QR code scan for seamless onboarding.
Shiftal exchange leverages multi-layer security and escrow-protected trading, it has more than 70 payment options and a user-friendly interface to buy and sell Bitcoin and Ethereum. Shiftal is compatible with both iOS and Android.
“Keeping the regulation standards in mind and the time consumed in doing manual KYC on-boarding process, we have partnered with Yoti to provide the fastest and highly advanced automated KYC system to Shiftal users,” said Rishabh, Founder and CEO of Shiftal, in prepared statement.
“Our partnership with Shiftal will enable their users to verify their identity with ease whilst providing Shiftal with verified, known traders. Shiftal is a global cryptocurrency exchange with Indian focus, Yoti accepts a range of identity documents including India’s Aadhaar/UAAI that makes Yoti unique in providing wide coverage in India,” said Thom White, Yoti Future Technologies lead, in a prepared statement.
Yoti is committed to user privacy and ensures all data is encrypted, according to the announcement. Details are not shared to third parties unless explicit consent is given by users. Whenever information is shared, both parties receive information of what was shared and when.