South Korea firms in biometrics-blockchain tie-up
13 February 2018 15:57 GMT

A South Korean blockchain-based tech company is linking up with a biometrics firm.

Theloop, which is implementing blockchain technologies in the financial industry, and Raonsecure, a biometrics technology services company, have signed an MOU to co-develop a FIDO system using blockchain technology.

The blockchain biometrics system aims to reduce the security risk which has been inevitable for the centralized systems such as banking service certificates or other private certificates. It is also expected to solidify the credibility of the authentication. We look forward to introduce this system as a new global standard.

FIDO (Fast IDentity Online) is the global standard for biometrics using fingerprint, iris, facial recognition, etc. It is considered to be one of the rising next generation authentication technology.

Recently, the demand for integrated IDs on blockchains and FIDO authentication has been growing rapidly. The two companies have agreed to collaborate their efforts at developing an innovative FIDO authentication system model using blockchain technology.