Gigzi, a financial system built using distributed ledger technology, has struck an exclusive partnership with IriTech, the global leader in biometric security, to develop secure account access on the blockchain, through iris recognition technology.
Gigzi enables users to store wealth in tokenised precious metals, that are redeemable on demand, in a decentralised financial system.
“IriTech is proud to partner exclusively with Gigzi for the development of security solutions for this exciting new financial technology”, says Dr Daniel Kim, CEO of IriTech.
Users of cryptocurrency independently manage their wealth, and therefore seek the highest safety and security standards available. By enabling users to protect their private key and instead utilise the unique configuration of their iris for authentication and account access, Gigzi Iris, developed by Gigzi in partnership with IriTech, will set a new security benchmark for decentralised applications.
Gigzi and IriTech Scientists and Engineers have been working together since 2017, the exclusive partnership announces that Gigzi and IriTech’s technology will reach users in early 2019, when the first-generation Gigzi Iris security device will be released.
Gigzi Iris will deliver impenetrable blockchain security through multi-factor biometric authentication, fake iris detection, and iris scanning video cameras that operate in sunlight, darkness, and through spectacles.
The Gigzi Iris security device will be powered by IriTech’s iris recognition algorithm, top-ranked by the U.S. government’s NIST IREX index and used by millions worldwide. IriTech is a world-leading provider of biometric security to high-profile organizations such as the United Nations and the United States and Indian Governments.
“As a cryptocurrency user, I know that account security is paramount. For this reason, I chose to partner with the leading biometric security solution provider, IriTech. Gigzi is at the forefront of developing security protocols for decentralised applications and will be raising the security standard on the blockchain”, says Gigzi CEO, Mr El Asmar.
The Gigzi crowdsale starts in November 2018.