Alhamrani Universal, the largest ATM manufacturer in Saudi Arabia, has teamed up with ShoCard create a prototype of a biometric ATM on the blockchain.
The developed ATM for identification of a person when withdrawing money uses a facial recognition system that operates on the basis of blockchain technology. The new product is aimed at the market of Saudi Arabia.
Representatives of the companies believe that this method of verification will help reduce the level of payment card fraud at an ATM. The software is embedded in existing ATM systems and uses built-in cameras.
The blockchain technology, in turn, is used to securely identify individuals, necessary for banks to verify the legality of withdrawals.
На сегодня прототип банкомата проходит испытания и в ближайшее время будет запущен в производство.
At present, a prototype of an ATM is being tested and will soon be put into production.