Fast Identity Online (FIDO) Blockchain in the works – Raonsecure executes MOU with theloop

Developing technologies that are both accessible from anywhere and secure enough to protect private data are often great in theory but often fall short in the real world. One of the largest challenges in data security is authentication.

Raonsecure is a company based in South Korea at the forefront of advanced biometric identification developing cutting-edge Fast Identity Online (FIDO) and authentication systems. FIDO leverages a combination of biometric technologies to verify a person’s identity Once verified software programs can either grant or deny access to certain features or data. However, Raonsecure’s vision of FIDO extends much further than just apps and data access. Anything from credit applications, employee background checks, or pretty much any process that requires a signature could be revolutionized through FIDO or a verification system like it. Now, if only there was a way to verify a person’s identity anywhere, anytime, for any reason, without giving people access to your biometric information. Enter blockchain.

FIDO and Blockchain
FIDO and Blockchain together could hold the answer to creating a way for us to be able to verify our identity without carrying around a Government ID Card, Social Security Number, or any other form of identification.

For this purpose and likely several other reasons, Raonsecure and theloop have set up a Memorandum of Understanding (MOU) to co-develop a FIDO blockchain system. Although there is not a lot of information on this specific project and there are not a lot of details about larger plans for this technology, the partnership is still very exciting. Raonsecure has some very notable customers in their portfolio, and appears to have made a very forward-thinking play to capitalize on FIDO as it pertains to Blockchain.

Raonsecure’s customers appear to include; Microsoft, IBM, Samsung, ING, LG, HP, Oracle, and a few more high profile groups (see their website screenshot below for a few more)

Raonsecure is no slouch in the authentication and verification space, and it appears they are looking to capitalize on this market long-term.

“RAONSECURE IS PURSUING AND HOLDS A NUMBER OF SECURITY TECHNOLOGY PATENTS IN THE IOT / INTEGRATED SECURITY SPACE. WE PROMOTE FUTURE-ORIENTED TECHNOLOGY AND PRODUCTS FOR INTEGRATED AUTHENTICATION BY COMBINING THE NEXT-GENERATION OF AUTHENTICATION TECHNOLOGY INCLUDING HUMAN/DEVICE AUTHENTICATION, SECURITY-APPLIED TECHNOLOGY, AND FIDO (FAST IDENTITY ONLINE) BASED ON PKI TECHNOLOGY.”

This partnership with theloop is exciting for ID verification technologies as they pertain to blockchain. Due to the immense amount of demand for security, this partnership has the potential to be lucrative for both parties, if they are able to collectively achieve their goals.