Applied Recognition and Blockchain Acuity Partner to Create Enhanced Security Solutions for Cryptocurrency Platforms

Applied Recognition, Inc. and Blockchain Acuity Ltd. jointly announce the development of advanced security solutions, powered by FaceLocate^SM, to aid in the prevention of digital coin theft with the use of integrated face recognition

TORONTO and VANCOUVER, British Columbia, Nov. 27, 2017 -- Applied Recognition, Inc. & Blockchain Acuity Ltd. together announce that Blockchain Acuity has integrated Applied Recognition’s FaceLocate technology into custom and existing blockchain solutions, resulting in a service called ‘Access Acuity.’  Users who adopt the results of this collaboration will be able to secure access to their digital currencies with face recognition, eliminating the vulnerability that comes from reliance on passwords and other weak authentication methods. 

“Holders of Bitcoin and other digital currencies greatly underestimate the risk of theft,” said Don Waugh, Co-CEO of Applied Recognition.  “The increased value of digital currencies has attracted sophisticated criminals that not only crack passwords but who also hijack mobile phone based methods of authentication.   People are shocked to see their assets disappear before their eyes, unable to prevent the transfers even if alerted in a timely fashion.  I highly encourage all managers of token-based assets of any kind, including cryptocurrencies, to move to quickly enhance their security with Access Acuity.”

“Cryptocurrency token issuers and exchanges are increasingly concerned about security, especially given recently publicized thefts,” said Clive Wright, founder and partner in Blockchain Acuity. “Securing access to these accounts using advanced facial recognition technology from Applied Recognition really makes a lot of sense as well as being generally applicable across a variety of industries and systems.”

To find out how Access Acuity and related technologies can help secure the digital assets in your systems or exchanges, please get in touch with us using the contact details below.

About Applied Recognition

APPLIED RECOGNITION INC. is a leader in face detection, recognition and authentication technology.  Founded in 2005, Applied Recognition has developed an extensive portfolio of patents for facial recognition & indexing, and for enterprise-grade, biometric authentication technologies.

Applied Recognition serves a broad range of customers, including financial services providers, IoT device manufacturers, and leading software publishers.   Licensing is available for software development kits for the Android and iOS platforms to support online identity verification and digital signature applications as well as login/authentication.  ARI also offers Ver-ID Face Authenticator, enabling the addition of second-factor authentication to any enterprise IT access-control system, as an overlay.   To learn more, visit www.appliedrecognition.com.

Contact:  Media Relations                                                                           
Telephone:  905-363-7701 ext. 261
Email:  [email protected]

About Blockchain Acuity

Blockchain Acuity develops custom blockchain solutions for clients in a variety of industries and organizations including crypto currency exchanges, construction, oil and gas, and mining.  We also consult on how and where to apply such technologies as well as providing educational services to our clients.  We have developed custom blockchain solutions, including for mobile platforms, from the ground up, as well as leveraging blockchain platforms such as Ethereum.  For more information, please visit us at blockchainacuity.com.

Contact:  Media Relations
Email:  [email protected]