IriTech Developing Authentication Device for Cryptocurrency Platform

“As a cryptocurrency user, I know that account security is paramount.”- El Asmar, CEO, Gigzi

IriTech Developing Authentication Device for Cryptocurrency Platform

IriTech has teamed up with a cryptocurrency platform to develop a new iris-based security solution for its end users.

Based in London, Gigzi is developing a blockchain-based cryptocurrency called Gigzi Black. It also offers digital currencies called Gigzi Metal that are tied to the real-world prices of precious metals. The firm has been working with IriTech since last year, and the companies have now revealed that they’re developing an authentication device based on IriTech’s iris recognition technology called, aptly, Gigzi Iris.

In a statement, the companies explained that their solution will feature a “fake iris detection” component, and will comprise “iris scanning video cameras that operate in sunlight, darkness, and through spectacles.” As such, the technology is likely to build on the iris scanning camera for laptops and PCs that IriTech launched last year.

Commenting on the collaboration, Gigzi CEO El Asmar explained that account security is “paramount” for cryptocurrency users, saying, “For this reason, I chose to partner with the leading biometric security solution provider, IriTech.”

The companies say that Gigzi Iris “will reach users in early 2019,” while Gigzi plans to start selling its cryptocurrency in November.