HYPR Corp. Develops the First Biometric Tokenization Platform

HYPR Corp. Develops the First Biometric Tokenization Platform

HYPR Corp. Device-agnostic Platform has been developing a military class Biometric Authentication system for corporations, government institutions, and other Enterprises.
Today, security has become of an extreme importance for any company. While passwords have proven to be a fragile protection for securing critical systems, a new breed of biometric authentication systems is being developed in order to provide enterprises a 100% secure authentication solution.

One of these solutions is a new Biometric Tokenization Platform developed by HYPR Corp. The HYPR Biometric Platform enables enterprises to implement biometric authentication in any application; then, users can use mobile devices and desktop client Libraries to enable an authentication process with a simple fingerprint, facial or voice recognition ensuring the installation of a completely secure access protocol.

George Avetisov, CEO of HYPR Corp. stated:

“The HYPR SDK is currently in deployment across a number of banks, which are implementing biometric security solutions for use cases ranging from internal employee authentication to their consumer-facing mobile apps. Mobile wallets and even Bitcoin platforms also are integrating HYPR to prevent payment fraud across their user base. We’ve also been working with IoT developers, healthcare providers and even streaming content platforms to deploy biometric authentication and eliminate account sharing.”

How Does It Work?

HYPR gives enterprise customers’ full control of how biometric authentication is used by their partners, employees, and customers. An Institution might want to only use fingerprint readers on certain devices, but not facial recognition, for instance. So the new HYPR system comes totally prepared to implement any the adequate options for any software infrastructure.

Unlike other biometric security protocols, the HYPR platform allows users to authenticate without ever transmitting biometric data across the Internet. Rather than storing user data on a centralized server, the HYPR platform data is kept securely offline. The HYPR SDK is an “add-on” piece of software. Instead of replacing a company’s authentication scheme, HYPR simply adds biometric authentication compatibility to an existing infrastructure.

The platform enables companies and their users to leverage modern-day biometric sensors on trusted consumer devices to replace password-based entry – without having to worry about storing user credentials. The biometric tokenization protocol supplied by HYPR eliminates the risk of storing biometric data online.

HYPR tokenizes biometric data and marries the convenience of a mobile biometric device with the security of advanced public key cryptography. User data never leaves the device, but authentication still takes place on the server side.

Bullet Proof Authentication Security

Jonathan Silverman, Bitgo Director of Strategic Initiatives, stressed that the “Biometric authentication is key to creating a future without passwords.”

Online user identities across financial services and Bitcoin-based technologies rely on secure authentication processes which passwords simply can’t provide. By combining a strong encryption with biometrics, HYPR Corp. was able to develop a powerful way of tackling the password problem.

Currently, many companies are looking for bullet-proof protection for their web infrastructure and data storage access security.  The traditional models of authentication systems are becoming outdated for an increasingly dangerous Internet and a new breed of Biometric Authentication systems is already on its way.

You can take a look on a video overview and demonstration of the HYPR SDK here.

What do you think about Biometric authentication security? Let us know on the comments bellow!

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Nuno Menezes is a Portuguese Bitcoin Entrepreneur and a crypto currency’s enthusiast supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies. Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.