Matrix BioWallet Covered at Bloomberg
Last updated
Last updated
Finger vein recognition works by sending a beam of infrared through your finger to get the image of your vein. It utilizes the latest and greatest biometric recognition technologies, and you can count on it to perform this with speed and precision. As part of a living organism existing underneath your skin and tissues, your vein is impossible to replicate using non-living objects. Fingerprints on the other hand are easy to replicate and you cannot avoid leaving your fingerprint on various scanner surfaces, which could expose your assets to unwanted risk.
Besides, finger vein recognition is less affected by your finger’s condition in comparison to fingerprint recognition. The latter could be affected by water or dirt on the finger or even skin damage. Not to mention that some people do not have distinguishing fingerprint features or even more extreme some people are born without fingerprints.
The Biowallet introduces a level of security and flexibility across platforms that is yet unseen on the Web3.0 algorithms.
When compared to its contemporary methods of securing digital assets, BioWallet fares well in face of PC Wallets or Ordinary Hardware Wallets in all the factors including, but not limited to;
1. Protection against cyber hacks
2. Corporate risks
3. Private key
4. Asset Privacy
5. Offline Signing
6. Virus Immunity
7. Counterfeit- Protection
The things that make the Matrix AI network special aren’t just the BioWallet and its advanced algorithm. The people behind Matrix AI network are big enthusiasts of complete decentralization of data including your social identities as well. With projects underway for Decentralization Identification(DID), data will be more secure than ever and more flexible than before.
The DID project will make the interconnectedness of platforms easier and more convenient and will allow the freedom of forgetting passwords to dozens of identities across the internet and unite them under one decentralized platform, accessible by your finger’s veins.
With DID, the government can have a balance between innovation and law enforcement. The financial institutions can improve the KYC onboarding experience, and the end-users can authorize shared KYC and sign transactions easily and safely. Think about protecting digital assets, like valuable NFTs which often are vulnerable to theft, and even physical assets that is a huge untapped market. This solution can prove provenance and equally important is the asset transfer can be safeguarded.
Quite ambitious and way into the future but possible and needed.
