The U.S. government and banks face similar challenges in implementing a biometrics identity system. Both should study what other countries are already doing.
The Trump travel ban calls for a new biometrics system to track all travelers to the U.S. It could follow the examples set by Canada, India and Estonia.
Cambridge Blockchain, a startup that bills its technology as a solution for banks to the competing regulatory imperatives of transparency and privacy, has raised $2 million through a convertible note.
The president's executive order reflects a lack of trust in the identity information shared between countries. In theory, blockchains are tailor-made to solve this problem, but current systems may not be up to the task.
Facebook now lets users log in using a physical token. If banks gave consumers this option, it would strengthen the security of online accounts — or at least bolster their image.
Some vendors have begun offering authentication platforms through which biometrics and other authentication tools can be plugged into any or all channels. TD Bank is sold on this concept, but others are not completely sure.
