Hitachi to Use Fingerprints For Blockchain Payments

A new blockchain-based system can settle retail payments validated using shoppers' fingerprints
26 July 2018   237

The Japanese technological conglomerate Hitachi together with the telecommunications giant KDDI started testing of a blockchain of retail payments verified by the user's fingerprint. This is reported by CoinDesk.

It is reported that the complex, created on the basis of the development of the Hyperledger Fabric start-up, is integrated with Hitachi's biometric verification technology and the KDDI coupon system. So, users can use coupons, pay for services and verify payments using a fingerprint scanner.

As representatives of Hitachi explain, a user needs to register a coupon and verify himself using biometric information. The store will act as a blockchain node and will be able to verify the identity of the buyer with the help of a fingerprint.

As a result, users can authenticate themselves by holding the finger on the authentication infrastructure, so it is not necessary to present a coupon at the store, and the coupon can be used even without a smartphone.
 

Hitachi

Representatives of Hitachi emphasize that using the technology of the distributed ledger will help instantly spread the information about the used or appeared coupon.

Accenture to File New Blockchain Patent

Technology, developed by the team, seeks to improve blockchain's security and stability
08 August 2018   169

Accenture, which works in the field of consulting and professional services, filed a patent application describing the technology of "Hardware blockchain accleration", designed to accelerate and improve the security of transactions in the blockchain using patented equipment. This is reported by CCN.

According to Accenture, this technology is necessary in connection with the new security threats that have emerged due to the rapid development of communication and electronic technologies. The patent application states that this technology provides safe and efficient execution of complex transactions not only between software processes and hardware systems, but also between people.

Accenture says its invention improves the security and scalability of the blockchain due to the fact that the encryption and decryption of data is carried out not only in hardware but also programmatically, so that the technology is not limited to either way.

As a result, the implementation shown … has increased security and scalability as compared to, for example, software only based security systems. For example, all or parts of the implementations may be circuitry that includes an instruction processor, such as a Central Processing Unit (CPU), microcontroller, or a microprocessor; or as an Application Specific Integrated Circuit (ASIC), Programmable Logic Device (PLD), or Field Programmable Gate Array (FPGA); or as circuitry that includes discrete logic or other circuit components, including analog circuit components, digital circuit components or both; or any combination thereof.
 

Accenture Patent Application

Instructions for performing tasks can be stored on various media, including flash memory, magnetic and optical disks like hard disks, CD-ROMs, as well as EPROM, ROM and RAM.

Earlier, the company developed a blocking prototype, which allows administrators to edit, rewrite and even delete blocks from closed blockchains. Then one of the leaders of Accenture, Richard Lamb, said that the absolute immutability of the block could not suit financial institutions like banks.