Reportedly, the ATM will permit clients to to use a blockchain-based app and face validation to receive funds instead of personal identification numbers.
The ATMs are supposed to be able to interact across the region’s banks, while deploying blockchain technology will enable it to confirm the identities of users without accessing bank databases.
Armin Ebrahimi, Founder and CEO of ShoCard, said that blockchain “protect[s] individuals’ identity while confirming the information that banks need to verify that a withdrawal is legitimate.”
Alhamrani Universal was founded in 1981 and is supposedly the single largest ATM provider in the Middle East, with over 50 percent of Saudi Arabia’s ATM market share. For document management systems, Blockchain has been widely deployed.
Global computer technology giant Oracle recently announced the extension of functionalities on its commercial Oracle Blockchain Platform, including those of identity management and information assimilation functionalities, such as facilitating blockchain transaction history to be integrated with other information resources.
American software company Microsoft published a serverless blockchain – propelled Azure development kit in November last year, which includes features such as off – chain identity and data, monitoring and messaging application programming interfaces (API) in a format that is used to create blockchain – based applications.