Major Saudi ATM Provider Partners With Blockchain Identity Platform

Saudi ATM supplier Alhamrani Universal and blockchain agency ShoCard will collectively develop a brand new kind of ATM combining blockchain and biometrics applied sciences.

Saudi automated teller machine (ATM) supplier Alhamrani Universal (AU) has collaborated with blockchain identification platform ShoCard to develop a blockchain-based biometric ATM, in accordance with a press launch revealed on Feb. 27.

The collaboration will see AU and ShoCard create a brand new kind of an ATM combining blockchain know-how and biometrics as a part of a five-factor authentication course of. The ATM will reportedly permit prospects to make use of a blockchain-based app and facial recognition as a substitute of non-public identification numbers to withdraw funds.

The ATMs will purportedly have the ability to talk throughout banks within the area, whereas the deployment of blockchain know-how will permit it to substantiate customers’ identities with out the necessity to entry financial institution databases. Armin Ebrahimi, Founder and CEO of ShoCard, mentioned that blockchain “defend[s] people’ identification whereas confirming the data that banks have to confirm {that a} withdrawal is authentic.”

Founded in 1981, Alhamrani Universal is purportedly the most important ATM supplier within the Middle East, having an over 50 p.c of the ATM market share in Saudi Arabia.

Blockchain has been broadly adopted for identification administration programs. Recently, international laptop tech large Oracle introduced the growth of options on its industrial Oracle Blockchain Platform, together with identification administration and knowledge integration options, equivalent to enabling the mixing of blockchain transaction historical past with different knowledge assets.

In November of final yr, American software program company Microsoft launched a serverless blockchain-powered Azure improvement package, which accommodates options like off-chain identification and knowledge, monitoring, and messaging software programming interfaces (API) in a format that can be utilized to develop blockchain-based apps.

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