IOTA

IOTA has unveiled its IAMPASS project which aims to become a new identity and access manager combining blockchain technology with biometrics.

According to the official IAMPASS website, the product known as PASS will integrate palmvein hardware and transport digitized palmvein pattern to the IOTA Tangle network. It will allow individuals to easily access restricted areas, sport events, festivals, and many other places just by using PASS.

The process flow of the biometric data gathered is managed by the PASS software and integrated palmvein scanner hardware. As the official site explains, there will be no need for using passwords of ID cards anymore. Everything will be stored in your own PASS.

There are some key features of using this system:

  • Data and Time of the transaction itself has an immutable timestamp which neither PASS nor IOTA can change or erase it.
  • It is possible to attach as many Signatures / Messages at no cost – completely independent of the MIOTA price development.
  • Custom tags can be created, using no more than 27 characters.
  • Addresses can be customized as well.
  • Last point to mention, PASS uses the Signature/Message field to store digital palmvein identity attributes.

At the moment, PASS is also exploring dedicated data streams using Masked Authenticated Messaging – or MAM – offline transactions, and Smart Contracts.

IOTA also explains that this is not a new application or plastic card, but instead, the main intention behind this development is to allow individuals to ‘be their own pass.’

At the moment of writing this article, MIOTA is the 10th virtual currency by market capitalization with $4.23 billion dollars. Each MIOTA token can be bought for $1.52 dollars, according to CoinMarketCap.

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