Co-development of world’s first FIDO (Fast IDentity Online) system using blockchain technology

Seoul, February 12, 2018: theloop and Raonsecure, a biometrics technology services company, have signed an MOU to co-develop a FIDO system using blockchain technology.

FIDO (Fast IDentity Online) is the global standard for biometrics using fingerprint, iris, facial recognition, etc. It is considered to be one of the rising next generation authentication technology.

Recently, the demand for integrated IDs on blockchains and FIDO authentication has been growing rapidly. The two companies have agreed to collaborate their efforts at developing an innovative FIDO authentication system model using blockchain technology.

The blockchain biometrics system will reduce the security risk which has been inevitable for the centralized systems such as banking service certificates or other private certificates. It is also expected to solidify the credibility of the authentication. We look forward to introduce this system as a new global standard.