The startup plans to use the funding to deploy its Advance Passenger Information platform. Zamna also said that International Airlines Group (IAG), Emirates Airlines and United Arab Emirates’ General Directorate of Residency and Foreigners Affairs are now among its clients.
Blockchain startup Zamna raised $5 million to automate airport security checks using blockchain and biometrics technology, tech news outlet Silicon Republic reports on Oct. 28.
According to company data website Crunchbase, the seed round was reportedly led by venture capital firms LocalGlobe and Oxford Capital partners alongside IAG, one of the world’s largest airline groups.
Up to 90% fewer document checks
Zamna, formerly known as Vchain Technology, aims to share passenger data between airports, governments and security firms via blockchain.
The platform says it will enable secure sharing between involved parties and provide instant passenger data checks, which is expected to reduce manual document checks up to 90%.
A spokesperson of the startup explained:
“The aspiration is that – as more passenger identities are verified digitally over time and shared securely between parties – the airport security process will become automated and passengers will be able to travel through the airport without needing any physical documentation or repeated ID checks.”
Verifying data without sharing it
The system reportedly allows for high privacy standards thanks to a proprietary algorithm capable of verifying biometric and biographic data without sharing it with third parties.
The platform “allows airlines, airports and governments to access a secure, immutable and distributed network of validations”, the company claims, adding that:
“The technology can be used by any of these parties to validate passengers biographic and biometric data, using cryptographically sound ‘signals’ to check you are who you say you are.”
Zamna co-founder and CEO, Irra Ariella Khi, notes that airlines are currently unable to provide accurate data to governments in accordance with the regulations. She said that both the airlines and the governments would need to spend a vast amount of resources to verify who should or should not be allowed to a given country.
According to her, this should all be automated in the digital age saying,
“In 2019, these decisions should be securely automated and informed by high integrity data – long before the journey even begins.”
As Cointelegraph reported in March, a representative from the United States Customs and Border Protection previously said that using blockchain for biometric tracking would be the technology’s killer app in the travel security sector.
Blockchain Startup DappRadar Raises $2.33M From Naspers, Blockchain.com
Lithuanian blockchain startup DappRadar, a platform for discovering and analyzing blockchain-based decentralized applications (DApps), announced it raised $2.33 million in seed funding.
$2.33 million to expand services
On Sept. 5, DappRadar announced the closing of a $2.33 million seeding round, which was led by Naspers, a South African-based global internet and media group, with participation from Blockchain.com Ventures, a venture capital fund and subsidiary of Blockchain.com, and Angel Invest Berlin.
The blockchain startup, which tracks over 2,500 dapps across seven blockchains, including Ethereum, EOS and Tron, explained that the investment in DappRadar will be primarily used for research and development and to help the business expand its services.
Samuel Harrison, a managing partner at Blockchain.com Ventures said that DappRadar is playing a vital role in bringing trust, transparency and discovery to the fragmented world of dapps.
Blockchain.com partners with blockchain protocol Polkadot
Cointelegraph previously reported on Aug. 22 that Blockchain.com had partnered with blockchain interoperability protocol Polkadot to integrate its Blockchain Wallet with the Polkadot Network. The integration will purportedly drive the adoption and decentralization of Polkadot tokens.
Blockchain Startup Bitfury Launches Artificial Intelligence Unit
Blockchain startup BitFury launched an artificial intelligence (AI) unit, Reuters reports on Aug. 13.
“Data is the new oil”
Bitfury chief executive officer and co-founder Valery Vavilov reportedly said that the company’s dive into AI is motivated by the need to analyze and extract information from great quantities of data. He reportedly noted that data is becoming the new oil and stated:
“We have collected so much data, but only 2% of all this data has been analyzed; 98% is sitting idle and waiting to be analyzed.”
Vavilov also reportedly explained that the AI unity of the firm is still researching possible applications of artificial intelligence. Still, he also promised that next year BitFury will have more information about the AI-enabled products that the company intends to develop and offer to its clients.
AI a potential danger to crypto
Former vice president and managing director of computer hardware producer AAEON Technology Europe, Fabrizio Del Maffeo, has been appointed to lead the AI unit of the firm.
Meanwhile, Stockholm-based software engineer and cryptocurrency trader, Eric Wall, commented on Twitter suggesting that the application of AI to blockchain data analysis is a danger to Bitcoin’s (BTC) fungibility.
“AI/Machine Learning ML to be trained to identify users and to flag coins that have been used with privacy-enhancing techniques (PETs), no doubt. Using PETs better become standard wallet behaviour quickly, if we care at all about the fungibility of Bitcoin.”
According to Crunchbase, BitFury has received $170 million in funding so far, and Reuters claims that it is one of a handful of blockchain companies with at least a $1 billion valuation.
As Cointelegraph explained in a recent dedicated piece, show impressive potential when combined and are already being integrated.