EyeSmart exploits biz potential in iris
Beijing startup finds multiple applications for its new method of establishing identity
EyeSmart Technology Ltd, a Beijing-based startup, has applied biometric iris recognition technology to finance, education, public security, social security, healthcare and public welfare.
Iris recognition is a method of identifying people based on unique patterns within the ring-shaped region surrounding the pupil. As the iris of each person is unique and doesn’t degenerate over time, forgery and identity theft are difficult, according to EyeSmart.
Wang Xiaopeng, founder of EyeSmart, said: “Compared with facial and fingerprint recognition, the error rate of iris recognition is much lower. Iris recognition is themoststable, accurate and safest biometric identification technology at present.”
With the development of new technology, the requirement for information security is becoming increasingly high. Iris recognition has become valuable in national security, military security, public safety and personal information security.
Wang said EyeSmart’s iris recognition technology does not require users to stand close to the machine as the hardware is able to identify someone six meters away and even if they are moving.
“Traditional fingerprint and facial recognition have some potential risks. For instance, people could undergo plastic surgery and fingerprints are easy to copy,” saidWang.
He added the iris recognition technology does not require a card, password or physical contact whether it is for making contactless payment, using the tech in a smart home or a smart car.
Founded in 2010, EyeSmart now provides specialized iris recognition products and solutions for hi-tech companies. Its products are used at banks, airports and hospitals.
InDecember 2014, it launched the world’s first iris phone. Users are able to unlock the phone or log in and even encrypt files by iris.
It also participated in India’s national biometric identification system, providing key technology support.
In September 2010, India launched the biometric identification system, andcollected data of residents, stored it and issued a 12-digit unique identification number called Aadhaar to each resident of India.
The Unique Identification Authority of India is responsible for the project, while EyeSmart worked on the project and finished the task of collecting the iris information of 1.2 billion people in India in 2016.
“In the next fewyears, wewill provide various identity-based authentication solutions with certification companies in India for residents, which include certificates of bank transfer, consumption, payments, loans, salary payments and medical insurance,” saidWang.
“Indian residents could enjoy digital medical services, social security, training, employment and online payment. The Indian government can also issue a subsidy and an allowance for targeted residents and monitor their health conditions.”