Today, non-custodial wallets are complex to handle: recovery phrases and private keys are an obstacle to the general public use of these tools. Based on this observation, the startup Dfns has developed a solution to develop wallets with an atypical feature: their users will be able to use biometric tools to unlock access to their assets.
Dfns launches its biometric solution
Will we soon be able to unlock our non-custodial wallets using facial recognition? The Parisian firm Dfns has just announced the launch of its solution enabling developers to create cryptocurrency wallets including biometric tools.
👉 What is a non-custodial wallet?
Thus, future users will be able to access their funds and interact with their assets. using a fingerprint or facial recognition. The unlocking of the wallet by the identity of its user will then replace the role of private keys and recovery phrases.
The co-founder and CEO of the company, Clarisse Hagège, asserts that this transition from private keys to identity verification is necessary to bridge the gap between Web2 and Web3 interfaces:
” Any user creating a crypto wallet or transferring digital assets will be able to do so with a simple scan of their face or fingerprint, bridging the user experience gap between Web3 and Web2. »
Thus, cryptocurrency holders will no longer need to remember recovery phrases or private keys: only the user authorized by the biometrics tools will access their funds, all thanks to a cryptographic key created and stored on the device used.
👉 How to store your cryptocurrencies through a wallet
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For greater Web3 accessibility?
In developing its solution, the startup specializing in wallet infrastructure has one mission in mind: make cryptocurrency wallets more accessible by facilitating their use.
After a year 2022 marked by numerous bankruptcies, in particular that of FTX causing losses amounting to several billion dollars, investors have massively turned to non-custodial wallets. Evidenced by the excellent results of the French company Ledger, having achieved a large number of sales during the bear market.
However, less tech-savvy investors are held back by the complexity of these tools. Still according to its co-founder, the objective of Dfns is therefore to offer a service that is both secure and accessible to as many people as possible:
” The first place a new user can start their Web3 journey is by opening a wallet, and if the UX feels foreign, cluttered, or unfamiliar, the likelihood of conversion and retention drops precipitously. Every platform and application that wants to help make Web3 more convenient and secure must integrate biometric wallets. »
For now, the company’s solution is available in beta version for developers. Note that in April 2022, Dfns has raised 13.5 million euros from several investment fundsincluding a company owned by the parent company of Coinbase.
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Source: BusinessWire
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Always enthusiastic about new technologies, I gradually moved closer to Web3-related activities during the year 2021. Over time, I wanted to add my stone to the building. It was then that I became an editor, with the aim of explaining cryptocurrency-related topics to as many people as possible.
Timothy Bourbotte
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