Our CEO, Andy Finch, recently pitched ITBiometrics to angel investors Jacob Brutman and Brian Ballan! Watch our pitch video on Wefunder to see what Jacob and Brian had to say about what we have to offer!
Here are the highlights of the pitch!
What Makes ITBiometrics Stand Out From Ledger and Trezor?
Jacob Brutman mentions owning both a Ledger and a Trezor. Both of these cold wallets require passwords for access. Let’s break down why ITBiometrics differs from Ledger and Trezor.
Our CEO, Andy Finch, mentions:
“What separates us, is that you’ll notice when you set up your Trezor or your Ledger, you actually have to create a 24 to 26 word passphrase. It is required as a seed so that if you need to access that device or restore it, you would have it. Our technology uses biometrics instead.
Additionally, when setting up cold wallets like Ledger and Trezor, sometimes it can take half an hour to 45 minutes. If you make a mistake anywhere in that process, you have to start over again.
When we go into the mainstream market, we plan on being able to utilize the biometrics for your seed enabling us to quickly onboard people. Our ease of use with just your fingerprint is a dramatic improvement.
How Does The Fingerprint Scanner Work?
“Our fingerprint scanner is embedded into the hardware. With our fingerprint scanner you will:
- Never have your private key actually be online.
- Never have it on your phone.
- Never have it on an online account.
- Only have an electronic signature ever leave the device.
The private key stays on the device. We use the private key to create an electronic signature in conjunction with your biometrics!
The electronic signature is then sent to the blockchain for authorization to transact. We also have layers of security in addition to just reading the print, and ITBiometrics also measures liveness detection. Blood flow is measured as well attaining a thermal signature from the individual. The triangle of data is used to detect that it is the original owner.”
Learn More About Our Investment Opportunity on Wefunder
We appreciate angel investors Jacob Brutman and Brian Ballan for taking the time to speak with Andy and learning more about our products! Check out the rest of their questions in the video.
We look forward to delivering our products as a result of the investments from our equity crowdfunding raise on Wefunder! Wefunder will allow us to deliver the next generation of products including the ITBX™, the ITBC™ and the BCD™.