Precise Biometrics gets kudos from cold wallet exec along with integration
Precise Biometrics and its BioMatch fingerprint detection algorithm have won high praise and a license deal for integration into IoTrust’s blockchain-based hardware wallet, D’CENT. In a press release, Precise notes the words of D’CENT’s Chief Business Officer WanKyu Kim, who calls the Swedish biometrics and identity verification company the best in the business.
In an interview with The First Cut podcast from Blade Labs, Kim explains how IoTrust developed D’CENT, noteworthy as the first hardware wallet with biometric authentication and Bluetooth connectivity. Speaking about the “thin line between security and user experience or convenience,” Kim references Precise’s integrated fingerprint scanner and algorithm as “the number one market share provider in the industry,” which allowed D’CENT’s designers to find exactly the right balance between two sometimes competing priorities.
The D’CENT cold wallet currently supports major cryptocurrencies such as Bitcoin and Ethereum and continues to grow, with IoTrust looking to expand into new markets through the inclusion of customer support in different languages. Resembling a first generation phone or off-brand mp3 player from the early 2000s, it retails for around US$160.
Precise Biometrics will be well served by a fruitful business relationship. The firm has been in some turmoil of late, shuffling executives, hiring new faces and expanding its Algo division to try and correct a consistent trend of net losses and corresponding displeasure among shareholders. Founded in 1997, it offers the BioMatch and BioLive fingerprint software as well as the YOUNiQ facial recognition system. Its downward swing can be attributed in part to the downturn in smartphone biometrics.