The aim of this collaboration is for customers to use their blockchain-based App and faces instead of personal identification numbers to withdraw money from cash points. As such, the ShoCard powered ATM will use five-factor authentication, and it is design to communicate across banks. It also uses the blockchain to confirm an individual’s identity without accessing the bank’s database. ShoCard uses blockchain technology to identify users across different banks, hardware or online services where no device or service is trusted.
As such, the ShoCard solution aim to prevent ATM fraud scams, as it introduces biometrics, such as the ShoCard ID, a QR Code, timestamps, session IDs, and other certifications methods by which the user was verified, like selfie IDs and more. The prototype is currently undergoing testing.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now