Money20/20 Europe: Get to Know the Four Levels of Biocryptology

“We’re very proud to have created a technological platform for complete, secure access that also eliminates the need for passwords and usernames”. – Ted Oorbals, CEO, Biocryptology

This week in Amsterdam, Biocryptology CEO Ted Oorbals took to the stage for a discussion with Consult Hyperion Director of Innovation Dave Birch as part of Money20/20 Europe. The conversation served as a platform for Oorbals to introduce his company’s eponymous Biocryptology universal identification platform – a biometric authentication solution that can verify a user’s identity in both logical and physical access scenarios. The Biocryptology app leverages embedded smartphone biometrics and Face ID for biometirc authentication, and according to the company, the biometric data is encrypted and stored “with the highest level of security in different locations, so that if someone managed to access and decrypt the data, the information would be useless.”

The stated mission of Biocryptology is to empower users to protect their identities and eliminate knowledge-based credentials like usernames and passwords. In pursuing this goal with its authentication platform, Biocryptology established four levels of identity transaction based on use case and parties involved. The first level is personal, like your own email account or car door locks. The second level is commercial and enterprise based, accessing spaces that you don’t own like a gym or a shared work space. The third level is financial. The fourth and highest level is official, involving government, law enforcement and legislative access.

The levels are stratified as such for accessibility. A user who just wants Biocryptology to access their house or personal computer only requires Level 1, but if a bank wants to use the platform, then Level 3 is appropriate.

Illustrating the range of the solution’s effectiveness, Biocryptology Ambassador and world famous actor Antonio Banderas described a social media use case: “We all know that many of the accounts of celebrities on Twitter, LinkedIn, or other social networks are not actually owned by them, or they are not under the control of the right person, and they are often used incorrectly,” he said, describing a Level 1 application. “This is just one, and perhaps the most commonplace example of the importance of our identities. Biocryptology’s calling is to eliminate identity fraud on social networks, but also in more critical areas such financial transactions.”

Taking all four levels of Biocryptology into account paints a comprehensive picture of biometric authentication. Furthermore, its ambition as a universal access solution that bridges the gap between digital and physical spaces, puts it on-trend in terms of security innovations. For years, the security industry has been observing a convergence between information and physical security, and with Biocryptology it seem that union has finally come to be.

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June 7, 2018 – by Peter B. Counter