IOTA to Power Digital Identity Authentication Solution “IAMPASS”
The IOTA Foundation revealed its native Tangle technology – a DAG-based scalable protocol – will be used by IAMPASS for the latter’s decentralized digital identity management product, as published on a blog post by IOTA head of communications, Cara Harbor.
Spearheading Identity Management
The development is one amongst many as IOTA steadily builds an ecosystem for products running on Tangle, as part of a broader smart city vision.
IAMPASS’ proof-of-concept model uses a person’s palm vein pattern of the hand to enable biometric identification of use in corporations and restricted areas, such as airports, data centers, and government offices. The product scans the vein structure of a user’s hand to create a unique identity map linked to a profile where user access and allowed functions are predefined.
As corporations and humankind move towards an interconnected world powered by the internet, identity management has emerged as one of the most concerning issues. While the absence of products ensuring trustless verification remains an underserved domain, distributed ledger systems can potentially power reliable, secure, and cost-effective identity management solutions for consumers.
Dominik Schienever, the co-founder of IOTA Foundation, notes the development allows portability of identity management devices – over large biometric systems in usage today – while providing customers ownership over their identity. He added:
“With the maturation of identity solutions like these, we will see the IOTA ecosystem providing a key technical puzzle piece for the adoption of distributed ledgers.”
DLT and Smart Cities
IOTA is up for a test with the development. For an identity solution to be technically viable, the system must be equipped to handle millions of authentications per day while not compromising on security as a tradeoff for scalability.
Protection of personal data is an essential component for both individuals and governments, and a lapse in function could spiral into sweeping media speculation about the inability of blockchain technology – as a whole – to facilitate real-world usage.
The IAMPASS application is a small sub-process of a DLT-based smart city, as envisioned by the IOTA Foundation. The latter is currently working on several related products to achieve decentralized governance and futuristic products running on trustless mechanisms, such as smart car charging stations and interaction between IoT-connected devices. Most experiments are based in Berlin, where the foundation was formally registered in 2016.
Meanwhile, the IAMPASS development comes months after the European Union Commission advancement gave a “green light” to IOTA and European smart city consortium +CityxChange for the consortium’s energy management solution.
At the time of press, IOTA is ranked #12 by market cap and the IOT price is down 1.02% over the past 24 hours. IOT has a market capitalization of $1.39 billion with a 24-hour trading volume of $16.08 million. Learn more ›
IOTA7 Nov at 2:37 am UTC
At the time of press, the global cryptocurrency market is valued at at $212.27 billion with a 24-hour volume of $12.1 billion. Bitcoin dominance is currently at 53.78%. Learn more ›