FacePhi, the leading company in digital identity verification, have signed a bilateral agreement with US-based company Anonybit, specialists in decentralising biometric templates.
The Spanish technology company continues to explore the incorporation of decentralised biometric solutions, with which the user of the technology obtaining control of their digital identity.
For FacePhi, the advance towards a digital identity system based on decentralised standards has been made possible thanks to the decentralisation of the biometric pattern, within the biometric template that the company generates in its identity verification and authentication processes; thus allowing it to increase security and carry out interactions with less risk and protect data.
Likewise, this operation represents a new step towards a decentralised digital identification scheme, and the advance towards the concept of self-sovereign identity, where the user is in control of their data.
The move complements the positioning recently initiated by the company, through its participation in a decentralised identity project with the South Korean government.
By providing cutting-edge technology, FacePhi participated in its first decentralised digital identity initiative on Jeju Island, the largest in South Korea, in a project where, in addition to venturing into the field of smart cities, it provided its technology for the digital identity verification that will be used by the entire population -and the more than 15 million annual visitors. The company reinforces its presence in new markets and sectors, forming part of this innovative decentralised digital identity project with its onboarding and facial recognition solutions.
“The use of decentralised digital identity represents a new way of understanding digital identity, moving from a totally centralised model to a model that decentralises data and turns biometrics into a democratic technology,” explains Javier Mira, president and CEO of FacePhi. “It is important that all people have the right and the possibility of owning their own digital identity and make decisions regarding the day-to-day management of it: When, with whom and how they want to use their data to identify themselves, without having to wait for a third party to validate their own information.”, added Mira.
Most decentralized identity schemes still maintain a central repository by the issuing authority. Anonybit breaks the paradigm by eliminating the need for any central database while still providing assurance that people are who they claim to be at every step along the identity lifecycle”. “Our patented technology solves a long-time problem of distributed biometric data storage and matching and eliminates the trade-offs we have been making up until now between privacy and security.”, explains Frances Zelazny, CEO of Anonybit. “Our collaboration with FacePhi involves adapting its algorithm in our decentralised identity vault, maintaining a high level of security and performance, whilst preserving the privacy of our users.”, added Zelazny.