RENO, Nev., March 7, 2019 — GoChain today announced it has partnered with IriSafe, Inc. and Blockchain Industries, Inc. (OTCPK: BCII) 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,” said Jason Dekker, CEO of GoChain. “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,” said Dr. Daehoon Kim, CEO & President of IriSafe. “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 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 innovative digital identity management solution will have various applications, including national IDs, private keys, e-voting systems, user rights, and refugee food distribution.
GoChain has built the world’s first full-service, enterprise-grade public blockchain protocol based on an industry standard codebase. It is the only network protocol that offers enterprise-level support, high transaction speeds, and upgradeable smart contracts. Other blockchain protocols have been hamstrung by high latency, high fees, lack of adoption, and sacrificing scale for excessive decentralization. GoChain allows any current projects struggling with a scale to “lift and shift” from inefficient protocols and immediately operate orders of magnitude faster, greener, and cheaper.
About IriTech, Inc.
Since its establishment in 2000, IriTech, Inc. has focused on developing the most advanced iris recognition technology and products. Its iris-matching algorithm was top-ranked by NIST’s IREX test and widely used by several U.S. government agencies. IriTech is the only vendor achieving all three STQC certifications on iris cameras for enrollment, authentication, and mobile devices for the Indian government’s UIDAI project — an ambitious plan to issue biometric ID cards to 1.2 billion residents. Those cameras have also been used by UNHCR, UN WFP, the U.S. Army, and many other customers globally.
About Blockchain Industries, Inc.
Blockchain Industries, Inc. is a publicly traded merchant bank focused on the international blockchain and cryptocurrency sectors. The company is comprised of a Blockchain Technology Advisory, an Investment Management arm, and a Global Conference Series (Blockchain Unbound) connecting entrepreneurs and investors.
Director of Operations