IrisGuard is viewed as the world leader in biometric technology that pioneered iris recognition development and applications, particularly in homeland security, banking and finance. IrisGuard products & services revolves around iris recognition research and development, iris camera engineering, design and manufacturing of worldwide commercialization of iris end-to-end identity solutions.
In 2017, the United Nations High Commissioner of Refugees (UNHCR) has used IrisGuard’s private Ethereum blockchain technology to enable streamlined payment services for thousands of Syrian refugees seeking humanitarian aid, according to a report by ETH News.
IrisGuard’s EyePay system has already serviced over 10,000 refugees in Jordan using iris recognition technology (IRT), which allows for food purchases to be settled on the blockchain.
The blockchain’s robust encryption system ensures that all transactions are secured and are executed without using a card, pin, username, password, ID, or mobile device.
As a result, the platform is ideal for non-governmental organizations (NGOs) and aid organizations, as the IRT eliminates any logistical and monetary barriers related to integrating card and smartphone issuance for every refugee.
The system also removes the possibility of fraudulent transactions and embezzlement of funds.
“The UNHCR has achieved financial inclusion for unbanked refugees and enabled them to efficiently receive international donor cash assistance directly on unattended bank ATM’s and food at checkout counters in supermarkets and nonfood items in camps; all while refugees are either unable or not allowed to open a bank account by law,” IrisGuard said in a statement.
Over the past few years, several aid programs have been investigated by governments who have focused on providing humanitarian aid to Syrian refugees.
The United States Government Accountability Office (GOA) released a report last year that stated that US agencies could improve on fraud oversight.
IrisGuard solutions could potentially help to combat issues of fraud and banking the unbanked.