Proofi by LTO and Blue Announce Groundbreaking Proof of Humanity Software

In an era where online platforms are plagued by bots and fraudsters, biometrics and blockchain developers are joining forces to create innovative solutions. Australian biometrics developer Blue Biometrics and Dutch blockchain network LTO have partnered to launch a revolutionary proof of humanity software. This collaboration aims to detect and eliminate bots while preventing fraud in the cryptocurrency space.

The new software, called Proofi by LTO and powered by identiblue technology from Blue Biometrics, will enable users to verify their identities and establish that they are indeed human. By capturing contactless fingerprint biometrics using smartphones, individuals operating a particular wallet can prove their humanity. This solution is a significant step towards combating one-per-person rules violations and meeting regulatory requirements such as the EU’s Markets in Crypto Assets legislation.

Although Proofi and identiblue are separate software applications, they are seamlessly integrated, making the verification process smooth and efficient. LTO and Blue Biometrics are currently preparing to release beta versions of their software, with plans to develop accompanying apps in the near future.

Frequently Asked Questions

What is proof of humanity software?

Proof of humanity software is a technological solution that verifies individuals’ identities and proves that they are human, rather than automated bots. It utilizes biometrics, such as fingerprints, to establish one’s unique human characteristics.

Why is proof of humanity important in the crypto space?

Proof of humanity is crucial in the crypto space to combat fraud and ensure compliance with regulatory requirements. By verifying human identities, this technology prevents individuals from creating multiple accounts to exploit systems and engage in fraudulent activities.

How does Proofi by LTO and Blue work?

Proofi by LTO and Blue combines the identiblue technology developed by Blue Biometrics with the blockchain capabilities of LTO. Users can capture their contactless fingerprint biometrics using their smartphones to prove their identity as a human operating a specific crypto wallet.

Can proof of humanity software be used for other applications?

Yes, proof of humanity software has applications beyond the crypto industry. It can be implemented in various online platforms and industries to prevent automated bots, enhance security measures, and ensure trustworthy interactions between users.