Authenteq raises $5 million for blockchain identity verification>
Venture Beat – Dean Takahashi
Authenteq, creator of the blockchain identity verification technology Trollteq, has raised $5 million in funding and is now touting its 60-second identity verification process. The funding for the Reykjavik, Iceland-based company was led by Draper Associates and Capital300. The company said it completed its funding round in two weeks. Authenteqâs AI-driven automatic identity verification process uses a proprietary passive liveness detection to make sure whoever is signing up for the service is doing so in real time. The company then issues an eID for the user, located on the userâs mobile phone and private blockchain. In less than 60 seconds, a user is verified with government-grade facial recognition algorithms, and the photo ID documents are authenticated.
Link: https://venturebeat.com/2019/01/14/authenteq-raises-5-million-for-blockchain-identity-verification/?utm_source=VentureBeat&utm_campaign=f10d5f19fb-VB_Daily&utm_medium=email&utm_term=0_89d8059242-f10d5