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Anonybit’s $8 Million Funding and the Future of Biometric Security 

Anonybit's $8 Million Funding by web3oclock

In a world where privacy and security are very important, Anonybit is doing something special with its new way of checking who you are. They just got an extra $3 million to add to their total of $8 million, thanks to JAM FINTOP and Connecticut Innovations. Anonybit’s big idea is something called “Anonybit Genie,” which uses a new way of checking who you are based on decentralized biometrics.

About Anonybit

Anonybit was started by experts Frances Zelazny and Yaron Azizi. They want to change how we protect our important biometric data. Zelazny used to work at BioCatch, and Azizi was in the Israel Defense Force’s 8200 unit. They joined their skills to make a system that keeps your data super safe. This cool system began as a way to break up your biometric info into pieces and spread them out on different servers. This means that even if one server is attacked, your important biometric data stays safe.

The company has lots of experience and good relationships with identity verification providers like 1Kosmos, AuthenticID, Rank One Computing, and Ping Identity, making Anonybit a great choice in the identity industry.

The Funding of $8 Million

Anonybit recently got an extra $3 million in funding, making their total $8 million. This shows that people are excited about their new way of checking who you are. JAM FINTOP and Connecticut Innovations are helping them with this money. This funding tells us that Anonybit is on a mission to make online security better. With more money, they can keep improving their unique system, giving you more privacy and security. Anonybit’s fresh ideas and growing support mean that your data will be safer online.

Why Anonybit Is Important

Identity fraud is getting worse, and we need better ways to check who you are. Anonybit’s idea is different because it doesn’t put all your info in one place. Keeping your info in one place, like a “honeypot,” makes it easy for criminals to steal your data.

Even new ideas like “passkeys” are not perfect because big companies like Google, Apple, and Microsoft keep backup copies of your passkey. This makes your account vulnerable to hackers. Passkeys check your device and account, not the real you. This means that thieves can pretend to be you and steal your account.

Anonybit’s way of checking who you are is better. It uses your biometrics and keeps your data completely safe. This new funding helps them make their vision come true, giving you more privacy and security without any downsides.

New Leaders and Partnerships

Anonybit is getting even better with new leaders. Limor Elbaz, who started the cybersecurity network Peerlyst, is now the Chief Revenue Officer. Al Pascual, who used to work at Javelin Research and co-founded Breach Clarity (now part of TransUnion), is on the Advisory Board. These experts bring lots of good ideas and experience to Anonybit.

Conclusion

Anonybit’s $8 million in funding means they have a bright future. They have a cool way to keep your data safe, and they’re working hard to make it even better. In a time when privacy and security are very important, Anonybit is making things better for everyone.

FAQs

What is Anonybit’s main focus? 

Anonybit focuses on a new way to check who you are using decentralized biometric data. It keeps your data safe and can’t be easily hacked.

How is Anonybit different from regular biometric data storage?

Anonybit divides your biometric data into small parts and stores them on different servers. This makes it much harder for anyone to steal your important data, unlike regular storage systems.

Why is the decentralized approach important for stopping identity fraud? 

Decentralized biometrics are important because traditional methods put your data in one place, making it easy for criminals to steal. Anonybit’s way breaks this pattern and makes your data safer.

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