Facial recognition can help prevent future Bitcoin (BTC) scams like the one from Twitter and YouTube, said Rod Hsu, president and co-founder of Coincurve virtual currency platform.
Hsu said so during an interview with Cointelegraph Bitcoin is an electronic form of currency that is irreversible and somewhat anonymous. “Coupled with this gap in understanding, Bitcoin is attractive to fraudsters.” But because to negative advertising Who got the cryptocurrency with the scams? it may have deterred many from considering a takeover.
“Because of this nature, people can see that fraud and Bitcoin are synonymous. Whether with traditional payment methods or with Bitcoin, it is up to the individual to understand the situation and determine its legitimacy. With greater public awareness of these programs and education about Bitcoin, we hope to break this negative association. “
Face recognition also contributes to the goal of a better user experience
Hsu Believes Facial Recognition Is A Possible Solution To End Bitcoin Fraud, since it is much more difficult to duplicate. He adds that this system is based on biometrics “much more advanced than a simple photographic image”:
“We saw a light version of facial recognition where the consumer not only provides identification, but also performs a liveliness check that takes into account multiple angles of a person’s profile. This increases the difficulty for someone trying to use someone else’s payment instrument. “
Hsu added this face recognition It’s an excellent tool to use when Re-authenticate someone after they were originally verified. “Balancing the goal of a better user experience while minimizing fraud.”
The privacy of facial recognition systems is still guaranteed
However, Coincurve is the co-founder indicates that systems such as facial recognition must consider ethics for verification purposes:
“I think the ethics of facial recognition is based on consent and security. With consent, the user must know, agree and control how the data is stored, shared, used and accessed, and have the option to delete it at any time. Surely this relates to how data is stored and security protocols implemented. These requirements can also change based on the age of the end user. “
Services should consider these recommendations when taking advantage of new technologies. like facial recognition, since its implementation This affects many levels of the service, from “user experience to architecture to system security”. Hsu added.