Coinsetter is going biometric with is incorporation of LaunchKey’s authentication system.
Users of the bitcoin exchange were previously offered two-factor authentication. Now, they can be authenticated through facial recognition and fingerprint reading. Facial recognition is performed via a mobile device’s camera, and fingerprint reading through the touchscreen.
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Coinsetter notes that such security measures are even stronger than two-factor authentication (2FA). While 2FA does provide an added layer of protection, it does not ensure authenticity if the backup media (e-mail, phone) are already compromised.
Encrypted biometric info is stored on the mobile device. Facial recognition is available for both Android and iOS. Fingerprint reading is available for Android, with an iOS version scheduled for the release of iOS8.
Similar technology was been employed by a new Bitcoin ATM in Canberra, Australia.