The Japanese consumer product conglomerate Hitachi has partnered with the blockchain developer firm Concordium Foundation to build a biometric crypto wallet.
Both firms have collaborated to conduct the proof-of-technology on the crypto wallet on the Concordium blockchain, which will enhance user convenience by introducing biometric signatures and eliminating the need for self-managed seed phrases.
According to the official release from Concordium, the proof-of-technology for the crypto wallet will explore the possibility of syncing seed phrase generation with Hitachi’s Public Biometric Infrastructure (PBI).
This way, users will not be required to remember and manage the seed phrase of their crypto wallet as it will be accessible with their biometric signature.
This combination of technology will essentially remove the need for memorizing and storing seed phrases for crypto wallets while risking wallet accessibility solely depending on it.
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The Public Biometric Infrastructure (PBI) is a public key authentication platform developed by Hitachi that combines biometric authentication technology and PKI digital signature technology.
In a research blogpost Hitachi said that PBI is already used by Japanese banks, such as The Yamaguchi Bank, The Momiji Bank, and The Kitakyushu Bank, for transactions and digital payments as it provides high security and convenience.
“We are delighted that we can conduct a Proof of Technology using Concordium’s blockchain and Hitachi’s PBI,” said Dr. Kenta Takahashi, the Principal Researcher at Hitachi.
“We hope that secure and convenient self-sovereign identity, the foundation of trust within Web3, and management of crypto assets and NFTs can be realized based on user’s biometric information by integrating PBI into Concordium’s wallet.”
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