Alibabacoin Foundation has developed a new technology that combines a payment system based on the blockchain system with facial recognition, this way, instead of the usual username and password to make payments, the facial recognition (which is integrated in the blockchain, will be enough. In fact, Alibabacoin Foundation has developed a facial recognition that doesn’t allow a loss of personal data. The foundation also plans on creating its own cryptocurrency exchange platform, to allow its users to change their tokens with other cryptocurrencies. In addition, Alibabacoin Foundation has set up a charity fund in Dubai, United Arab Emirates, to help the disadvantaged children of our society.
The foundation successfully completed the first phase of its ICO and began the second phase on March 16, 2018. The second phase is open to the public and includes 11 rounds, each one lasting 10 days. The third phase began March 30. The objective of liberating 50 million token during the first phase was achieved in only 5 days, which means that there is a lot of interest in this ICO. However, beyond the ICO, the other interesting aspect is the introduction of new and more secure authentication and protection methods of the same data. The fact of its practicality and simplicity shouldn’t be underestimated, either; with this new procedure, it won’t be necessary to have different passwords saved in archives or thumb drives with the risk of losing them.
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