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

[lovish27]

Need of the time I guess

[Lorence.xD]

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.

[paul00]

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.

[maxreish]

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.

[Assface16678]

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.

[leea-1334]

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.

[Jawhead999]

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/

[MCobian]

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.

[o_e_l_e_o]

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.

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.

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.

[tbterryboy]

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/

Everyone has their own opinion as to how things should be done in the cryptocurrency community. Everyone is concerned about Security, that’s the major concern of the people, but in different ways; there are people whose major concern is that they don’t want to be scammed, they want to be able to trust whatever project they see in the cryptocurrency market and these people are ready to sell their identity for it, which is not the core purpose of decentralization.

Then there are those who don’t care about getting scammed, maybe they think they are smart enough to tell when a project is a scam or not, these are the people who are worried about their identity and they want to keep it safe and say low-key, and of course that’s the main purpose of Bitcoin and decentralization, so that people who are making use of it will not share their identity.

So, in a case like this what would be the solution? Will it be best to say that those who are worried that they would get scammed should quit from anything that has to do with cryptocurrency, and look for other things doing? Or should things be changed to be in the favour of such people?

[minairia3]

Im not sure whether user will increase the security upon utilizing this feature or make it worse. Im sure this tech has history of malfunction or glitches. It will take a thousand test first before it can be sync through a decentralized network.

Im thinking if phones could have this then it can be easily install and integrate to any of the centralized market. Actually this addition will help avoid such scam activity but until certainty that this method will be safe then some study is a must before deploy or activate such feature.

[davis196]

How is this "facial recognition" process different than the usual ID verification process,where you have to upload an actual selfie in addition to the front and back of your ID/driver's license/passport?
I assume that services like Jumio or Onfido(the companies that handle automatic ID verification processing for some big crypto websites) have some sort of face recognition process,that is used to match the selfie with the photo on the ID card.
Everyone has the right to stay anonymous on the web and making facial recognition and ID verification mandatory should be illegal.

[audaciousbeing]

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/

Even with face recognition, fingerprint recognition or retina scan even add it to DNA verification, it still does not stop those who will be gullible to be gullible while those with scam tendencies will continue to find a way to ensure that their own bottom line is continually protected. The way out is to ensure there is adequate enlightenment to protect the new entrants into the crypto space not to be ruled by their greed expecting that there is free money somewhere that can make them rich in their bottom line.

[stompix]

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.

Yeah, I did waste my time, and to my "surprise", it's not about reducing fraud, it's not really about bitcoin, and it's so damn hard to read, I don't know what the author drank before writing it, but if he didn't this thing is surely a poor translation

During a meeting with Currency Times, Hsu said Bitcoin is an electronic type of non-reversible and, to some degree, mysterious money, “combined with this hole in understanding makes it engaging for trick craftsmen.” But on account of the harmful exposure the digital currency got with the tricks, it might have debilitated numerous from embracing it.

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.

Things are changing, the previous versions of face recognition software were so bad you could indeed fool them with a poorly done mask but the newer types are not using 2D models anymore. I was just talking about this in the LocalBitcoins verification topic, they've changed the last level of verification to liveness, a real pain in the ass procedure after which you will end up with the neck of an owl but no 100$ mask will be able to fool it. The most advanced programs are measuring facial expressions and no latex mask can deliver human-like results. Rather than trying to fake the image in front of the camera the best way would be to feed the camera fake information but those solutions are getting costlier while the measures to detect them cheaper. It takes from 1 to 4 hours for a make-up session in a movie and even then the new faces go through a bit of editing if you have the budget of a studio at your disposal...why would you want to fake your own face for a website?

One thing, I'm talking about face recognition as a multi verification procedure to identify you as the same person, not those security cam jokes that have a 3d picture in their database and compare up to 12-24 points at maxim.

[carlisle1]

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/

Even with face recognition, fingerprint recognition or retina scan even add it to DNA verification, it still does not stop those who will be gullible to be gullible while those with scam tendencies will continue to find a way to ensure that their own bottom line is continually protected. The way out is to ensure there is adequate enlightenment to protect the new entrants into the crypto space not to be ruled by their greed expecting that there is free money somewhere that can make them rich in their bottom line.

Completely Right! whatever securities that will be implemented there are still
scammers and hackers that will exist and tried to breach anything, testing the
protections and keep trying to penetrates, they will not stop doing the same thing.

It's good to see this kind of proposals but certainly it's not stopping there, chances that breach will come inside
and part of the team can be the scammer or hacker itself.

[Rengga Jati]

It may be a good idea in order to avoid any scam in the future. But once more, do the people want to do it? It means that the system will need data on facial recognition. I don't think that many holders will do it for the shake of the animosity. some may follow this idea but it may not be general. So, it may be only an option that can be done.

[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/

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.

Absolutely! The question is, how could you decentralize Facial Recognition and make it bulletproof that no artificially created face can pass as someone else?

[wxa7115]

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/

This is more trouble than what it is worth, if people want to stop falling for those kind of scams the only thing that they need to do is to think a little bit and use their common sense, but it seems that it is asking too much out of people, no one that has worked hard for his money will fall into a bitcoin doubling scam, it is very obvious that when you read something like that you are in the presence of a scammer.

And taking into account that you are your own bank and knowing that once your coins are out of your wallet you have no way to get them back people should be even more careful with their bitcoin than they are with their fiat and yet for some reason they do not take more precautions despite knowing this information.

[AjithBtc]

When things get related with facial identity to improve security, it means the network is losing its uniqueness. This is another form of kyc which is very strong than the identity validation using any of the identity cards. If such a scenario exist, then the decentralized operation won't be effective. Most of the users love it, because of the decentralized accessibility.

[Wexnident]

Basically saying to stop Bitcoin from being Bitcoin. Imagine adding facial recognition when people already hate KYC more than enough, enthusiasts would outrage if they ever did such a notion. Plus, such implementation is really, a pain in the ass. If you were going to use facial recognition as a form of KYC, might as well just do the normal form of KYC, with ID's and information and the like, the exchanges would then have no actual need to even implement facial recognition.

Even if you were to blame fake IDs as the reason why some can bypass the security of KYC, that's the fault of the system or the developers themselves for making a faulty one. Making a unique ID for each human being could easily resolve such dilemma imo, though that would ensure that every one of us could be basically detected, no matter where we go.