Paul Mattiuzzo, Director “Your identity is your most valuable possession. Protect it.”
—Helen aka Elastigirl, The Incredibles
As statistics surrounding identity thefts reached a record high last year, with over 60 million people affected in the U.S. alone, it is time that consumers took back control of their data and identity.
In the era of hyperconnectivity, any online transaction, whether it is booking a cab or ordering a can of soup, requires users to part with critical financial and personal information, creating digital clones of one and the same individual across multiple databases. As more and more data is siphoned off consumers rely upon the promise that the highest levels of security measures are being maintained, The alarming rise in impersonations, proxy hacking, and digital heists confirm that people are treading on thin ice.
"Think of it as a digital lock and key, where the only way to open the lock is when it matches with the biometrics and the DNA information recorded within the token"
However, come to think of it, currently, there is no commonly accepted method to prove one's identity undeniably. While biometric details are valid proofs of one's identity, inarguably the ultimate identity marker is the DNA. Building on this concept and breaking new grounds in security and multifactor authentication is Canberra-based iZAC Coin with their revolutionary crypto identification management system.
The Ultimate Level of Security
iZAC Coin or intelligent Zero-knowledge-proof Access Crypto, has come up with unique iZAC Tokens, where DNA data alongside fingerprint, voice, and iris scan of a token owner is embedded into the end of blockchain through advanced encryption technology. This creates an unbreakable bond between a user and a third party trying to access personal data. “Think of it as a digital lock and key, where the only way to open the lock is when it matches with the biometrics and the DNA information recorded within the token,” explains Paul Mattiuzzo, Director Security Technologies, iZAC Coin.
At iZAC we have found a next-gen solution that identifies ‘you as you’ and cannot be refuted
Now, an iZAC Token owner can command complete control of all their data whether it is medical, financial, or other personal information, without lugging around mounds of documentation.
At its core, iZAC Coin is built upon public-private key cryptography, where iZAC holds the private key while a token owner owns the public key. What is impressive is that the iZAC Token can be personalized to add family members of a user, as required. In case of emergencies, the system is also designed to “fail-safe open” in a controlled manner to provide information access to say, medical practitioners.
This innovation is also a welcome relief for institutions such as government entities, insurance companies, healthcare organizations, and more as now they can warrant a person’s identity without engaging in complex security processes or spending a fortune on massive infrastructure. At present, even the smallest event of a data breach can cost organizations severe reputational and financial damage, but with iZAC Coin’s blockchain-based technology, hacking into an account now is next to impossible a believable statement.
The Face of Futuristic Transactions
Imagine the power of iZAC Coin in moments of crises where a person has lost all possessions in a fire accident or been mugged in a foreign country. In normal conditions, the battle to prove one’s identity in order to receive help from insurance companies or federal agents would be a tedious process. However, with iZAC, users can instantly establish their identity and fast track official proceedings. “At the end of the day, the only entity that has the most vested interests in protecting your identity is ‘you.’ At iZAC we have found a next-gen solution that identifies ‘you as you’ and cannot be refuted,” emphasizes Mattiuzzo.
It must be noted that Mattiuzzo and the other body of experts behind this “futuristic iteration of security” have over two decades experience in cybersecurity and business consulting and their clients can rest assured that they are dealing with nothing but the best.
The team is currently running proof of concept tests and engaging in development cycles as they further expand the feasibility of iZAC Tokens into new and exciting areas. Apart from safe access to bank and trading accounts and electronic health records, iZAC Coin can also be used to manage keyless entry into cars and homes. This will dramatically improve hospitality and car rental services where, for example, on arrival at an Airbnb property, all a user needs to do is scan their thumbprint and facial recognition to gain access. The vision of cardless cash withdrawal can now be a reality with iZAC Coin as it will only take a quick retina scan for a consumer to retrieve cash from an ATM while eliminating all possibilities of having their PIN or card details exposed. “Think about how easy refugee and immigration verification processes can get with this unique DNA embedded cyber-identity system,” adds Mattiuzzo. Specifically, in parts of the world with a high influx of temporary workforce, such as UAE, iZAC Coin can ease border crossing and long-drawn verification processes for governments, airport officials, and even recruiting firms. The use cases of iZAC Coin are truly endless in a digital world while making the online experience easier and safer than ever before. For citizens in Australia, iZAC has also come up with a unique power bill management system for their solar power environment.
A New World of Security
Innovation and blue sky thinking have always been at the top of the agenda for iZAC Coin and, while most service providers in the market extend RSA tokens or two-factor authentications validated through smartphones, iZAC Coin is redefining the security game by several notches through encrypted biometrics. On the anvil are plans to release an interactive application, which will further extend the iZAC Coin ecosystem and allow firms to integrate blockchain technology with a variety of business models. Currently invested in Australia, the company is also looking at expansion opportunities into Europe, particularly in the UK.
“In the end, we want to draw attention to the fact that our endeavors are business focused. Our aim was not to build a solution and then go looking for a potential problem, but right from the get-go, our efforts have been directed at designing a technology which caters to a trillion dollar security issue,” remarks Mattiuzzo.
Finally, with iZAC Coin, the world can realize the benefits of a much-awaited security solution, which makes digital identities more accountable and trust more universal!