Engineers from Hitachi and blockchain developers from the Concordium Foundation have teamed up to create an innovative biometric cryptocurrency wallet.
It is assumed that the solution will allow generating seed phrases using a fingerprint or iris scan. This will eliminate the need for users to store or remember a set of words.
It will also be possible to import or restore accounts on new devices using biometrics.
In the first stage, the partners will conduct a “proof of technology” to confirm the viability of the idea.
If it moves to a wallet implementation, the tool will use Hitachi's existing Public Biometric Infrastructure platform and identity system on the Concordium network.
Representatives of the Swiss company, in a commentary for Cointelegraph, noted that a biometric wallet could be especially useful for their blockchain. When connecting, Concordium requires the user to go through a verification process when creating an account. On the one hand, this prevents malicious activity such as hacking and scams, on the other hand, it makes it extremely important to protect the user’s access to his identifier.
However, “in principle,” biometric wallets can be used in any blockchain in the future, the technical consultant of the Concordium Foundation emphasized.
In 2021, the Zug-based firm raised $15 million through a private token sale .
Let's remember that in December, Jack Dorsey's Block opened pre-orders for the Bitkey hardware Bitcoin wallet, the mechanism of which also allows you not to remember passwords or seed phrases.
