IrisGuard, a pioneer in iris recognition technology, has won “International Innovator of the Year” award at the 2nd annual LendIt Fintech Industry event. The award was given in recognition to its novel blockchain technology that releases the 32-byte blockchain private key by iris verification. In combination with the secure EyePay iris-enabled POS platform developed by IrisGuard, the innovation enables real-time processing of retail transactions via Ethereum secure ledger.
The award is a recognition for IrisGuard’s progressive work in securing the last mile in blockchain authentication. The company was recently named as one of the world Food Programme’s “Top 10 innovators.”
The project has now been rolled out across five supermarkets in Jordan refugee camps, processing blockchain transactions valued at millions of dollars per month and serving over 120,000 Syrian refugee beneficiaries.
About IrisGuard Technology
IrisGuard Technology is based on the science that every human eye is different, providing a unique identifier for every person in the world. It uses the varied characteristics of the human iris and delivers accurate, fast and secure biometric personal identification solutions.
IrisGuard EyeBank solution includes InsGuard Cameras, software and backend servers that scan the iris and immediately compares it with every record in the bank database to give an accurate and reliable authentication.
It is proven in real world operations and used in the field since 2001 to quickly and accurately identify tens of millions of people from more than 190 countries. Independent third party studies have confirmed the scientific reliability of IrisGuard EyeBank solutions.
The technology operates when a user simply looks into the IrisGuard Camera, which automatically detects one’s Irises and takes a focused, pristine black & white image.
Mathematical algorithms convert the iris image into a unique digital code, which is enrolled into the bank’s iris database for storage and rapid matching.
Commenting on the win, IrisGuard’s Founder and Managing Director, Imad Malhas, said
“IrisGuard has long been leading the way in iris recognition technology and iris-enabled trusted payment platforms for many years, so to be internationally recognised in this way really affirms it for us. This award could not have come at a better time for IrisGuard as we look to the future with the launch of our mobile Android phones and tablets and revolutionise the world of secure mobile payment applications.”