Dan Larimer has always been known as a very innovative, ambitious individual in the cryptocurrency community. The creator of Bitshares, Steemit, and EOS has been known to constantly push to make things faster, cheaper, and easier. Perhaps one of his biggest innovations came a few days ago when he officially patented his new facial recognition program. The new invention will allow for unique identity verification sans the need for KYC or passwords.
How it will work
A published patent reveals all the important details of this new technology. However, to simplify all the technical jargon, we will discuss it in more layman terms here.
The technology is essentially going to be a network of facial recognition pictures.
- Let’s say John Doe wants to connect his unique identity to his account.
- He would first take a picture of his face and the technology would scan his biometrics.
- Then to further confirm his identity, he would take pictures with several friends, who would also confirm his identity while he could confirm their identity simultaneously. So John Doe takes a picture of himself, then takes a picture of himself with James Doe.
- James Doe then confirms John Does identity and vice versa. After a certain number of confirmations, John Does facial biometrics are officially connected to his account.
- Now when John Doe wants to sign onto any account, passwords and KYC are a thing of the past. All he has to do is scan his face and he’s in.
Implications Beyond Blockchain
Block.One and Dan Larimer are sure to first test their new technology on EOS and likely their upcoming Twitter competitor Voice where it’s sure to have game-changing ramifications. However if successful, the implications for this technology reach far beyond the world of blockchain. Even big centralized services such as Google and Facebook have real use cases for it. Imagine if signing into Facebook or Gmail was as simple as a quick face scan on the webcam. Gone are the days of long passwords, multiple passwords, and annoying text verifications.
Proof-of-identity has been a huge problem as long as the digital age has existed. Problems range from fake accounts, to spam, to outright identity theft. Identity theft alone has been a $107 billion problem over the last 6 years. And fake accounts have been enough of a problem to even influence elections. Finding a solution to these problems has revolutionary implications.
A Long Road Ahead
As exciting of an idea this may sound like, there is sure to be a long, winding road ahead to get it fully implemented. Questions remain around its legal, regulatory status, along with Block.One’s ability to actually get it implemented and adopted on a widescale. Things will take time and if history is any lesson for us, there will certainly be hiccups along the way when Block.One is involved. But between the break-neck scalability of EOS, the $4 billion war-chest of Block.One, and now this promising, new facial recognition feature. The future looks bright for EOS and for blockchain technology as a whole. The last time EOS had monumental events such as B1 June & the mainnet launch, the price surprisingly took a shocking sell-off. This was because although the events themselves could have been considered a success, they failed to satisfy social and market sentiment.
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Written by Ezra Yao