Facial Recognition Can Help to Come Out from Bitcoin Social Media Scams

[sdsfghfff]

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/

[Twinkledoe]

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

And the thing is, how secure is this sensitive identity of yours? If a specific organization or company is holding those vital facial data of yours, how can they assure that their clients have nothing to worry about breach or something?

[mardaed]

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

We are of the same mind. I do not think these would be a good idea for facial recognition be combined with decentralization. And where does the bio metrics and data of such security tool would be directed?

[mezzaluna]

I guess what you are trying to say is have a better way to improve KYC's since some people have already looked for a way to complete in a way that they are not placing their true identities. Facial recognition would really help BUT people are always aware that once they uploaded their files into a system, they are already placing their identities publicly in exchange for money. We must always be mindful that we can always gain profit by not throwing away our identities but it would be so much better to live in a place where everything can be fair.

[odolvlobo]

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.

[Ucy]

What facial recognition, and where do you store the data? It's for Twitter, YouTube or  Bitcoin? Hope it's not centralized facial/private-ID recognition/verification and storage system. That'd be like creating another vulnerability for hackers to exploit. I guess the organization/company haven't learned anything from the Twitter hack (assuming they mean centralized recognition/storage). You can't risk the private ID of millions of people on centralized system just because of money.

[target]

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

I think I have just experienced facial recognition test in binance 2 weeks ago when I tried reviving my account and once again I have to submit the documents I have tried submitted the last time. But this time, they are asking me to turn-on my camera and some blinks for their AI to recognize me. I was chilled to the bone.

But if its used in social media, it would be good.  People in social media like facebook and twitter don't mind if they undergo this facial recognition AI.

[witcher_sense]

If facial recognition could help in fighting scams and frauds, we would be living in a perfect world already, the one without crime and wars. But we are still living in a world where such systems are being continuously abused by authorities. They aren't fighting criminals, they use these tools in their political intrigues and other shady games. Needless to say that If such technologies widely spread we will all end up under mass surveillance. It was well described in Orwell novel. No one wants the future like that, it is better to find other ways of finding crimes.

[fiulpro]

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/

Okay so everyone is saying how negative it can be and can never work with decentralization.

My take on this:

What the author necessarily meant was if facial recognition does become an important part of logging in your Twitter ID or any social media ID , this way these scams can be prevented to an extent. Facial recognition is really safe and super hard to copy.

( Not entirely impossible but yes super hard. )
-*-

I do think one cannot always enforce the facial recognition regarding the transactions , no one will actually use it.

BUT:

I do think one can also step up and just add their own fingerprint while dealing with logging in issues and such , this technology is already in work and can be made mandatory . This would be effective and would not need any more time to get into the lane. At the same time there are silicon masks plus lenses that can fully copy facial recognition.

Through a course of experiments, researchers from Tencent Security's Zuanwu Lab in China determined that the ability for facial recognition technology, such as Apple's FaceID, to reliably authenticate that the actual user is not only present but conscious or even alive can be faked

[LUCKMCFLY]

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.

[Sanugarid]

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.

[c_atlas]

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

[cheezcarls]

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.

[btc_angela]

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.

[Leo]

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

[ChiBitCTy]

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?

[avikz]

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!

[snarlpill]

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.

[suzanne5223]

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.

[DoubleEdgeEX]

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/