Bitcoin ATMs are set to get smarter with the inclusion of facial recognition software as the sixth layer of security in modern ATM software.
Automated Teller Machine (ATM), invented by Shepherd-Baron in the year 1939 which was first installed in a branch of Barclays Bank outside North London took the world by storm with its mesmerizing ability to aid in the withdrawal of money without physical contact with a physical teller. The ATM grew on a larger scale as a result of high demand thus 3 million units was installed worldwide as of 2015.
This fascinating technology was adopted in the crypto world and hence birthed the Bitcoin ATM. The Bitcoin/Crypto ATM which dispenses the fiat-value requested can be used for online trading and also buy or sell bitcoins or other cryptocurrencies with the help of Bitcoin debit cards. This machine has aided in relieving the stress of always exchanging currencies when traveling to a different country. This could probably be a headache for business tycoons, tourists and others who are always on the move from one country to another.
Highly skilled programmers who intend on using their skills to find illicit ways of making money tend to hack ATMs due to the fact that it solely operates on a set of instructions steals its information and sell it on the dark web for a huge lump of money. By so doing, putting the hard earned cash of individuals at risk.
Hackers do this by cloning of the binary pin code secured cards which can be used to steal money from anywhere in the world. To combat this situation, drastic measures have to be put in place to facilitate change. This has led to the idea of having better-quality security. Albeit the Bitcoin ATM has a five-part security feature which will be improved by new biometric and facial recognition feature that forms the two-part layer of the security.
Other features would include a ShoCard ID and sessions ID. Furthermore, to verify the identity of each user, a QR code and time stamps for high-quality security. With the aid of the Alhamrani University in collaboration with a blockchain tech firm, ShoCard, these machines have been brought to existence.
The security and mobile tech expert and also being the
“Blockchain serves as the sixth layer of security in this technology since the data is decentralized making it all the more difficult to record and hack biometric record” he added hopefully.
Want to get the latest crypto updates, analysis and breaking news? Follow us on Twitter (@CoinnewsLive).