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Blockchain fixes misuse of biometric data — Privado ID founder

Because biometric data cannot be replaced, storing the data requires the highest levels of security, Evin McMullen told Cointelegraph.

Biometric data collected by the tech industry introduces multiple risk vectors to end users and imposes massive costs on tech companies.

Evin McMullen, co-founder of Privado ID — a decentralized identity project that uses zero-knowledge cryptography — recently explained to Cointelegraph explain how decentralized blockchains mitigate these risks.

McMullen began by pointing out that biometric data isn't just processed or stored through traditional Big Tech companies like Google, Apple, or Microsoft. Instead, the data often passes through a complex supply chain of service providers that opine on the validity of certain pieces of data, which exposes user data to multiple third parties. The Privado ID co-founder stated:

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Iris Scanning Worldcoin Idea Fuels Objections From Privacy Advocates — Snowden Says ‘Don’t Catalog Eyeballs’

Iris Scanning Worldcoin Idea Fuels Objections From Privacy Advocates — Snowden Says ‘Don’t Catalog Eyeballs’During the last few weeks, a project called Worldcoin has been the subject of numerous headlines and speculation. Worldcoin launched on October 21 and aims to be a universal basic income (UBI) crypto asset that gives free tokens to accounts that are verified with a biometric eye scan. The project has privacy advocates reeling and […]

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment Methods

Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment MethodsAccording to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to use one emerging payment method in the coming year.” More Respondents […]

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning

China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint ScanningThe People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment” or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments […]

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin