In line with a recent official ‘press-release‘ published, renowned Saudi ATM [Automated Teller Machine] supplier Alhamrani Universal [AU] has announced its partnership with blockchain identity platform ‘ShoCard’ to develop a blockchain-based biometric ATM.
The new partnership will see AU and ShoCard form an ATM combining blockchain technology and biometrics as a part of five-factor authentication method. The ATM can reportedly enable customers to use a blockchain based app and facial recognition rather than personal identification numbers to withdraw funds.
The ATMs can supposedly be able to communicate across banks within the region, while the employment of ‘blockchain technology‘ will permit it to verify users’ identities without the requirement to access bank databases. Armin Ebrahimi, Founder and chief executive officer of ShoCard, stated that blockchain “protect[s] individuals’ identity whereas confirming the info that banks ought to verify that a withdrawal is legitimate.”
Launched earlier in 1981, Alhamrani Universal is supposedly the major ATM supplier within Middle East, having an over 50% of the ATM market share in South Arabia.
Blockchain has been widely adopted for ‘identity management systems‘. Recently international computer tech giant ‘Oracle’ proclaimed the growth of advanced features on its commercial Oracle Blockchain Platform, as well as identity management and data integration options, like facilitating the integration of ‘blockchain‘ transaction history with other data resources.
Earlier in Nov. last year, renowned American software giant Microsoft ‘revealed‘ a serverless blockchain-powered ‘Azure‘ development kit, that contains options like off-chain identity and data, monitoring, and messaging API [Application Programming Interfaces] in an exceedingly format which could be used develop blockchain-based applications.