Hong Kong, June 23, 2022 (GLOBE NEWSWIRE) — Matrix features the latest in crypto security – BioWallet With the advent of cryptocurrency, security has become a major concern for many people, and Matrix has put developed a new biometric wallet that meets these needs.
The Matrix BioWallet uses the unique finger veins to unlock and sign transactions. Thanks to this technology, you will be able to access your wallet without using a password or PIN. This feature will help you stay safe while securing your crypto assets. As a bonus, it will also eliminate the need to remember a password or PIN. By using biometrics, your wallet is more secure than ever.
Another advantage of Biowallet is that it’s backed by a team of scientists, so it’s guaranteed to work for you. You can even customize it with your own username and password. Once you customize it, you will have access to a wider range of security features. The Biowallet also includes an easy to use interface and an optional fingerprint reader. The new security system allows you to store your private keys and crypto assets in a safe and secure place.
Rapid advances in web and telecommunications technologies have triggered a dramatic shift in business value towards the booming digital economy, accelerating digital business transformations and the adoption of Industry 4.0 and the web 3.0. Today, the ability to fully exploit the commercial potential of data is the key driver of value creation in the digital economy, and advances in artificial intelligence (AI) are the most competitive advantage to achieve a data overview.
The data economy is only beginning to realize the major problem posed by the lack of robust data management solutions. In order to increase data connectivity and enable a wave of disruptive growth in the digital economy, blockchain now offers a powerful answer.
Matrix AI Network is a leading provider of end-to-end solutions for enterprise-grade data management with high security, interoperability, and performance through a foundational combination of AI and blockchain.
The Matrix 1.0 blockchain platform is the first AI-powered blockchain platform. Slow transaction speeds, lack of security, complexity of use, and wasted resources are four key blockchain issues that we address with AI technology. We have built a functional and reliable public blockchain platform.
The Matrix 2.0 is building a blockchain-based AI economy based on data, computing power, and AI models. We are building a scalable AI platform with aggregate processing power, secure data management, transparent data sharing, and access to an ever-growing set of AI data, models, and applications. chain.
User data includes, but is not limited to, information about their identity, biometrics, behaviors, social relationships, assets, etc. Even the relationship status and brainwave patterns of users can become useful to collect. The constant updating and production of users’ private data will be essential for the metaverse as a fundamental resource as well as a means of production. For this reason, in order to protect private data from illegal collection, storage, management and use, we must develop technological solutions and regulations to control how data is used. Therefore, the calculation preserving confidentiality will be essential.
One of the biggest issues with digital currencies, other than their market being completely random and at the mercy of big sharks, is the security of most wallets. Many crypto wallets are just phishing scams that delete your digital assets as soon as you put them “safely” or are just a little algorithm away from giving all your crypto to a greedy hacker.
This is exactly where BioWallet comes into play. With its advanced and one-of-a-kind algorithm that pushes fingerprint locks one step further into the future, BioWallet can recognize veins and their placement in a finger and lock your crypto so that only the correct infrared imaging of your finger open encrypted wallet.
Matrix AI Network BioWallet Project
AI and blockchain are important technologies to power the modern wave of digitalization even of currencies. MATRIX blends the two elements with a vision to create a decentralized AI economy. The Matrix public channel is an ever-expanding ecosystem. It includes MANTA, a platform for training AI algorithms, MANAS, a distributed AI services platform, MANIA, a smart digital asset authentication platform, and MANITO, a platform industrial network open services.
One such product from the Matrix AI network is the Biowallet, a next-generation hardware wallet that works on the principle of finger vein recognition rather than fingerprint recognition.
According to Mr. Owen Tao, CEO of MATRIX, he supports the unlocking your wallet as good as signing of transactions using his finger vein, saving people the stress of having to remember a password/PIN, and more. In theory, you would never lose access to the Bio-Wallet by forgetting your password.
Finger vein recognition works by sending an infrared beam through your finger to get the image of your vein. It uses the latest and greatest biometric recognition technologies, and you can count on it to do it with speed and accuracy. As part of a living organism existing beneath your skin and tissues, your vein is impossible to replicate using non-living objects. Fingerprints, on the other hand, are easy to duplicate and you cannot avoid leaving your fingerprint on various surfaces of the scanner, which could expose your assets to unwanted risks.
Also, finger vein recognition is less affected by the condition of your finger compared to fingerprint recognition. The latter could be affected by water or dirt on the finger or even skin damage. Not to mention that some people do not have distinctive fingerprint characteristics or, even more extreme, some people are born without fingerprints.
The Biowallet introduces a level of security and flexibility on all platforms that is unheard of on Web3.0 algorithms.
Compared to its contemporary methods of securing digital assets, BioWallet performs well against PC wallets or regular hardware wallets in all factors including but not limited to;
- Protection against hackers
- Business risks
- Private key
- Asset Privacy
- Offline signing
- Immunity to viruses
- Counterfeiting – Protection
The things that make the Matrix AI network special aren’t just the BioWallet and its advanced algorithm.
The people behind the Matrix AI network are big believers in completely decentralizing data, including your social identities. With ongoing projects for Decentralization Identification (DID), data will be more secure than ever and more flexible than ever before.
The DID project will make the interconnection of platforms easier and more convenient and enable the freedom to forget the passwords of dozens of identities on the Internet and unite them under a decentralized platform, accessible through the veins of your finger.
With DID, the government can strike a balance between innovation and law enforcement. Financial institutions can improve the KYC onboarding experience, and end users can authorize shared KYC and sign transactions easily and securely. Think about protecting digital assets, like valuable NFTs that are often vulnerable to theft, and even physical assets that are a huge untapped market. This solution can prove provenance and equally important is that the transfer of assets can be saved.
Quite ambitious and forward-looking but possible and necessary.
Media contact: @Matrix_CMTO