GoChain, a high-performance Ethereum/web3 compatible blockchain, today announced it has partnered with IriSafe, Inc. and Blockchain Industries, Inc. to develop blockchain-based identity management solutions.
IriSafe is a Singapore-based joint venture between IriTech, Inc. and Blockchain Industries, Inc. IriTech has provided identity solutions to various governments, including the United Nations, the United States, and India, as well as private companies throughout the world.
With guidance from Blockchain Industries, a publicly traded merchant bank focused on the international blockchain and cryptocurrency sectors, GoChain and IriSafe have entered a binding joint development agreement.
GoChain will leverage IriTech’s biometrics hardware and software development kits in collaboration with IriSafe to provide the world’s first blockchain identity management solutions using ultra-secure, government-tested and certified iris-scanning technology. The solutions will be built on GoChain’s best-performing public web3-based network, giving users faster transaction speeds and enterprise-level support that are not available with traditional identity management solutions.
“Blockchain-based digital identity management solutions are sorely needed, and we are thrilled to partner with IriSafe and Blockchain Industries to offer this unforeseen level of security. IriTech’s iris recognition algorithm is truly revolutionary, and we look forward to exploring all its applications for the blockchain.”
“We are incredibly fortunate to work with GoChain, the fastest, most reliable, web3 based blockchain protocol. This partnership presents the opportunity to be an industry leader in the blockchain-based identity management space.”
IriKey, empowered by IriTech’s patented iris recognition algorithm which was proven superior in independent U.S. and India government testing, is the first product to be released by the joint venture, IriSafe. IriKey is a breakthrough hardware wallet that utilizes IriTech’s technology to lock a seed/key with the user’s iris data. The resulting so-called “locked seed” can be stored anywhere most convenient to the user (email, cloud, laptop, smartphone, etc.).
In the rare chance hackers gain access to the locked seed, they still cannot retrieve the original seed (and thus the keys) without the live irises of the owner. Other hardware wallets use seed phrases as restore mechanisms that are very inconvenient and still vulnerable to security breaches. IriKey users can easily recover their assets with their locked seed and iris scan, in the event the device is lost, broken or stolen.
The blockchain digital identity management solution will have various applications, including national IDs, private keys, e-voting systems, user rights, and refugee food distribution.