Avarta provides crypto companies and the blockchain industry with risk-based scoring data to help build and transform blockchain ecosystems globally by using established standards of authentication.
Avarta 4 key point overview:
What is Avarta
👉 By providing a private and authentication layer that is primarily user-controlled, Avarta gives more flexibility and reliability to individuals who are interested in investing, lending or borrowing funds or assets – similar to a credit rating – by creating a unique, secure digital identity with full transaction history.
👉 This decentralized, multichain ID system offers a passwordless identity solution that allows people to maintain their private keys and blockchain-based logins securely and with ease.
👉 Leveraging data already collected by mobile devices enables Avarta to create a seamless, biometrically-powered, multi-chain wallet that stores people’s cryptographic keys and transaction histories.
👉 This eliminates the loss of assets due to security breaches, cryptographic key loss, or forgetting of seed phrases.
👉 However, unlike centralized credit ratings, Avarta gives full control to users by allowing them to determine when and how to expose their information.
👉 If the platforms they use to allow it, they can choose to remain anonymous.
Who created Avarta
👉 Matthew Ainscow is the Chief Executive Officer of Avarta and he started his investment and finance career in 1999 as a research analyst for the Aim Distribution Trust.
👉 He is a professional investor who holds patents in biometric platforms and authentication and he provided support for a number of seed-stage startups.
👉 The chairman of Avarta is Prince Abdul Qawi and he has previously invested in several high-profile projects run by listed and non-listed companies.
👉 He is a technologist and Angel investor, which is a type of private equity investing where high net worth investors attempt to finance a business startup at the very early stages.
Features of Avarta
👉 By combining biometrics with device data, Avarta creates an authentication score that ensures that only the actual wallet holder can access their information.
👉 Single sign-on (SSO) capabilities enable users to use one wallet to manage their cryptographic keys across multiple blockchains and dApps.
👉 Users also have the option to use a biometrically-secured, multichain blockchain wallet with anti-bot mechanisms for public DEX listing or a multi-signature wallet for corporations and legacy planning.
👉 Only a successful authentication can allow a transaction by the authenticated Avarta user and keys and data are stored locally with the user and with secure Avarta storage.
👉 By combining a multitude of factors that are collected through an individual’s device, Avarta has developed technology that identifies people better than humans can identify one another.
👉 Avarta combines device data with biometrics through Facial Recognition Device analytics, personal device usage and specific user-device behaviours that individuals develop over time, and that cannot be replicated in any way, ensuring that authentication cannot be reproduced by anyone but the individual who owns the wallet.
Outro
👉 Avarta is devoted to providing secure identity and privacy solutions that are designed to be used for Decentralized Finance (DeFi) applications and to ensure that individuals retain a transparent and reliable credit rating.
👉 Using a combination of biometrics and device data, Avarta is able to create a trust score with a military-grade level of authentication assurance, creating a completely secure wallet for all users.
👉 Avarta provides a wallet that allows users to control their private keys conveniently and the cross-chain functionalities enables users to consolidate all of their cryptographic keys in one wallet that requires no passwords, no seed phrases and no need to physically write down the keys.
👉 Avarta provides crypto companies and the blockchain industry with established standards of authentication and proof of identity mechanisms that serve the industry, rather than adopting outdated standards from centralized institutions.
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