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GoodDollar Implements FaceTec 3D Face Authentication in Digital Wallet Pilot

July 17, 2020

A nonprofit digital wallet organization has become the latest to take advantage of 3D face authentication software from FaceTec.

GoodDollar Implements FaceTec 3D Face Authentication in Digital Wallet Pilot

The organization, called GoodDollar, is developing a blockchain-based digital currency with the aim of supporting a global Universal Basic Income. It’s an ambitious aim, and what’s more, the organization is evidently working to make this UBI platform as user-friendly as possible, with end users able to manage their UBI wallets through an intuitive app.

To that end, GoodDollar has implemented FaceTec 3D Face Authentication in its current demo pilot. When logging into their digital wallets, either through the platform’s mobile app or via a web browser, users are prompted to take a two-second video selfie. This allows FaceTec’s solution to scan their face biometrics, establishing a profile that can then be compared to those within GoodDollar’s database.

The aim is to ensure that each user has only one account by scanning for duplicates, thereby fighting any potential fraudulent use of the UBI platform.

“GoodDollar chose this biometric solution because of its world-leading accuracy — only one mistake out of 12.8 million users, on average — its readiness, and because the FaceTec team is rigorously developing their artificial intelligence to increase its accuracy even more,” the organization explained in a blog post.

It’s the latest illustration of the appeal of FaceTec’s solution, which not only enables highly accurate biometric matching, but also features renowned liveness detection technology to detect spoofing attempts. Having attained both Level 1 and Level 2 certification in iBeta’s Presentation Attack Detection evaluation program, FaceTec has demonstrated its confidence in its solution by offering thousands of dollars as a spoof bounty for anyone who can hack its system.

That confidence evidently appealed to GoodDollar as the organization prepares to launch its UBI protocol later this summer.

(Originally posted on Mobile ID World)

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