Cutting-edge blockchain ATM prototypes are being rolled out in Saudi Arabia with a unique take on granting users access to funds. The ATMs use biometric scanners to scan the face of each account holder as part of a five-factor authentication process secured by a blockchain app being used by the largest ATM provider in the Middle East.
The ATMs are the result of a partnership between Alhamrani Universal (AU) and blockchain mobile-identity platform ShoCard. The five-factor authentication process includes facial scanning, the ShoCard ID, a QR code, session IDs, and timestamps among other certification methods aimed at thoroughly vetting and verifying each user.
The system does away with the traditional method of memorizing four-digit PIN codes in an effort to combat the ever-present threat of credit card fraud, which is made all too easy with the simplistic PIN system and a thriving black market for credit cards.