BLOCKSMITH&Co. (Head office: Minato-ku, Tokyo; CEO: Tetsuya Sanada) is pleased to announce that it was granted a patent (No. 7535825) on August 8, 2024 for its Web3 Wallet utilizing facial recognition technology. Wallets utilizing this patent are expected to be available beginning in the fall of 2024.

About the Facial Recognition Web3 Wallet
Traditional cryptocurrency wallets require users to manage their private keys or seed phrases, making recovery difficult in case of loss. To address this issue, BLOCKSMITH&Co. has developed the "BLOCKSMITH WALLET," which leverages facial recognition and MPC (Multi-Party Computation) technology.
This wallet uses MPC technology to distribute the management of secret information across the user's device and multiple servers. Even if the device is changed or lost, users can access their assets using the secret information managed across these servers. This approach reduces the risk of losing access to assets within the wallet, providing a safer and more user-friendly experience. The wallet is scheduled to be available as a feature within the “QAQA” app starting in the fall of 2024.
Patent Details
- Patent Number: 7535825
- Invention Title: Secret Information Distribution System Using
- Biometric Authentication
- Registration Date: August 8, 2024
- Patent Holder: BLOCKSMITH&Co.
The patented technology enables the secure backup of secret information to external servers, minimizing the risk of data leakage and allowing for quick recovery in case of device loss. By dividing secret information into multiple "fragments" and distributing them across the user's device and several external servers, the system ensures data integrity by requiring a certain number of fragments for recovery. Additionally, incorporating biometric authentication (such as fingerprint or facial recognition) prevents unauthorized access when retrieving fragments from external servers. This system enhances security by reducing the risk of complete data leakage, even if a single server is compromised.
≪About BLOCKSMITH&Co.≫
Company Name: BLOCKSMITH&Co.
President and CEO: Tetsuya Sanada
Establishment: April 1, 2022
Capital: 14,999,950 JPY
Head office: Roppongi Hills Mori Tower, 6-10-1 Roppongi, Minato-ku, Tokyo, 106-6122
Business: Development and distribution of products such as blockchain technology and crypto assets utilising NFTs
URL:https://www.blocksmithand.co.jp/en/
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