Facial Recognition Can Help to Come Out from Bitcoin Social Media Scams - page 3.

o_e_l_e_o

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Quote from: Ucy on August 10, 2020, 12:48:13 PM

You can't risk the private ID of millions of people on centralized system just because of money.

Centralized exchanges do it all the time. Centralized exchanges leak private data all the time, and yet people continue to send them more private data.

Quote from: fiulpro on August 10, 2020, 02:05:18 PM

Facial recognition is really safe and super hard to copy.

The facial recognition technology on most mobile phones is able to fooled by a simple photograph of the person. Even the most advanced 3D scanners can be fooled with a 3D printed mask designed from a simple photograph. They are not safe nor "super hard" to compromise.

Quote from: MCobian on August 11, 2020, 03:20:51 AM

but if we log in exchanges or wallets using a security system with facial recognition. I strongly disagree with this, because decentralization is no longer available. Because we will no longer have privacy if facial recognition is actually realized on exchanges or wallets.

What difference does it make to centralized exchanges? If you have already completed KYC, then they already have a picture of your face, your name, address, and all your other details as well. You already have zero privacy when using these services.

MCobian

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If we log in to Twitter and YouTube using facial recognition, I am fine with that, but if we log in exchanges or wallets
using a security system with facial recognition. I strongly disagree with this, because decentralization is no longer available.
Because we will no longer have privacy if facial recognition is actually realized on exchanges or wallets.

Jawhead999

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This idea is very compatible with XRP aka centralized shitcoin, not for Bitcoin. Also it will increase potential from $5 wrench attack [1]

[1] https://blog.keys.casa/how-to-protect-your-bitcoin-from-5-wrench-attacks/

leea-1334

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Quote from: DoubleEdgeEX on August 11, 2020, 01:03:04 AM

Even if you put facial recognition on a blockchain and encrypt it, it still needs maintenance and control to a certain extend which in return contradicts the very idea of decentralization and anonymity. While it´s somehow interesting, FR could easily be faked too, I mean look at the incredible details from that examples here: https://mymodernmet.com/free-ai-generated-faces/

Blockchain maintenance by one entity is still centralized, and does not make sense at all. People who do this might as well just make use of a traditional database instead of making a big blockchain that is expensive to maintain.

Assface16678

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Facial recognition and other related to the personal information only of a one-person like a fingerprint are all unique but the main problem is it does good to decentralized?

This is just for personal use and in terms of decentralized no one handles this so how can it happen?.

Right now some of the platforms today are requiring to have a KYC because those are centralized they want to make sure all of the information if the users must be stored and secured but it is really secured? Or could possibly use for selling your information?. No one knows.

If you want to have a decentralized it does not require to have a piece of personal information.

maxreish

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Quote from: fmasta on August 10, 2020, 10:18:12 AM

This may increase security, but it's definitely not compatible with decentralisation.

Indeed. And not everyone will gonna agree on that face recognition. If it's for the security, im gonna go with it but with the the decentralization it may be a conflict one. Anyway, KYC's been an issue and it this thing will be implemented in such a social media platforms, I don't think everyone will submit it. There is still some other ways to add some security and to prevent scams other tha these of facial recognition. Like secret questions that only a certain user can answer it.

paul00

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What do you mean putting facial recognition in every transaction? or it will be added in kyc requirements in creating bitcoin address. It might work but still the security of the owner will still be at risk. When the profile leaks.

Lorence.xD

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Facial recognition has been a thing for awhile now and I think that they should have done a significant thing right now, remember when Iphone facial recognition had a faulty issue where other people can open the phone besides the user. Maybe I am just talking nonsense but my point is that there might be things that will slip in the cracks and it will be unnoticeable until someone tells someone about it. I believe that this can help in security but I do not think that it should be used for cryptocurrency thingy.

lovish27

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Need of the time I guess

DoubleEdgeEX

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Even if you put facial recognition on a blockchain and encrypt it, it still needs maintenance and control to a certain extend which in return contradicts the very idea of decentralization and anonymity. While it´s somehow interesting, FR could easily be faked too, I mean look at the incredible details from that examples here: https://mymodernmet.com/free-ai-generated-faces/

suzanne5223

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It has come the time we need to understand that there are some certain things which will do more harm than solution just like how robotic creation led to a lot of people's job losses. However, the twitter and Youtube bitcoin scam that led to this face recognition creation conversation was an easy to understand scam which means those that were victims are those that don't have adequate knowledge about what security entails in crypto and how crypto scammer operates.

snarlpill

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I don't want any part of facial recognition involved with Bitcoin... This is a massive privacy violation and as mentioned above is in direct contradiction with Decentralization. In some more extreme countries they could try to use facial recognition to completely ban someone from using BTC altogether.

avikz

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Quote from: sdsfghfff on August 10, 2020, 09:09:17 AM

Facial recognition can help forestall future Bitcoin (BTC) tricks like those that hit Twitter and YouTube, said Rod Hsu, president, and fellow benefactor of the virtual cash stage Coincurve.

https://www.currencytimes.co.in/facial-recognition-can-help-from-bitcoin/

Any kind of bio-metric information will help secure bitcoin storage and transaction - be it facial recognition or thumb impression! It will even make things easier whenever there is a requirement to reset a password or even get access to a lost account. However, in a decentralized ecosystem like bitcoin, these are not really a preferred choice of the end users. I am sure majority of the bitcoin users are not willing to give away their identity to any third party unless they have disclosed their bitcoin holding to the government. So whatever Rod Hsu had said, is true, but not ideal!

ChiBitCTy

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I read through the article and it makes sense to me how this might help stop online scamming, but how is it going to do so if people use fake identification tools. It seems like this is basing it's security on the honor system?

Leo

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I really can't figure out what the article is trying to say, it doesn't clearly explain the topic OP brought out.

Well facial recognition can help curb out bitcoin scams but to a mininal length, despite the fact that kyc exists bitcoin scams still persist

btc_angela

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Nah, it will just complicate things. I think Twitter needs to look at what's inside, their employees, because those people are the first one to be attack or been the target of hackers. So Twitter needs to upgrade and teach them from within on how to protect their assets and not introduce this so called facial recognition because it will not reduce fraud or scam and it will just make it worse.

cheezcarls

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Quote from: sdsfghfff on August 10, 2020, 09:09:17 AM

Facial recognition can help forestall future Bitcoin (BTC) tricks like those that hit Twitter and YouTube, said Rod Hsu, president, and fellow benefactor of the virtual cash stage Coincurve.

https://www.currencytimes.co.in/facial-recognition-can-help-from-bitcoin/

It can be a good feature to prevent on what recently happened to various Twitter accounts from several well-known personalities that are being hacked by a brilliant teenage hacker and his minions. It would likely increase security feature for good, but I wouldn't take it for granted.

The more they improve their security features such as facial recognition, the more these hackers become intelligent and will launch another innovative counter-attack to breach the system. It's much better for these social media platforms to turn into decentralization or running in the blockchain (or maybe just implement seed phrases or private keys than passwords or so), but it would take a long while either to make it happen or not at all.

c_atlas

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Facial recognition? How much more of your data are you willing to give up?

Sanugarid

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Quote from: odolvlobo on August 10, 2020, 12:18:05 PM

Don't bother reading the article. It is a waste of time. The article says nothing about how facial recognition might be used to reduce fraud.

It's really futile to visit the website lol I was starting to think that biometrics will be used somehow in blockchain such as facial recognition in some companies, or there are trials being done with it but the articles was just a light of facial recognition, there isn't even a specific data why they did come up with the use of biometrics. And I agree that this security features would just defeat the essence of decentralization on the first hand. Imagine your face id will be the tail of your network address, isn't it that bothering to have? I don't even use my phone's finger print scanner due to some purposes that I believed onto, I just stick with my pin even in my local e-wallet.

LUCKMCFLY

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This is a good strategy, although I prefer the 2FA authentication factor, security is something that many are willing to pay or even do, scams are at the time of day, thugs are always looking for different ways in how they can steal. Based on the fact that facial security does not require an additional instrument like the one required by 2FA, it can be accepted quickly, but some privacy advocates will not resort to it.

Topic: Facial Recognition Can Help to Come Out from Bitcoin Social Media Scams - page 3. (Read 669 times)