Facial Recognition Could Help to Stamp Out Bitcoin Social Media Scams

[MRM]

Coincurve’s Rod Hsu says facial recognition can stamp out social media Bitcoin scams.
Facial recognition can help prevent future Bitcoin (BTC) scams like those that hit Twitter and YouTube, said Rod Hsu, president and co-founder of virtual currency platform Coincurve.

During an interview with Cointelegraph, Hsu said Bitcoin is an electronic form of currency that is non-reversible and somewhat anonymous, “coupled with this gap in understanding makes it appealing for scam artists.” But because of the negative publicity the cryptocurrency got with the scams, it may have discouraged many from adopting it.
Source: https://cointelegraph.com/news/facial-recognition-could-help-to-stamp-out-bitcoin-social-media-scams

[InkrGod]

I completely agree, there are really a lot of uses of facial recognition technology. And preventing the scam is on of them. Just imagine if every transaction needed some biometric verification. Such as fingerprint or facial recognition. And the person who sent the bitcoin would be easily identified and checked in the hash. First of all I am sure that illegal drug and weapon market will face huge problems if every face of criminal would be in the database. And this technology is not something extraordinary, it exists in daily life and some companies use it already, Recfaces [nofollow] is good example of a correct usage of biometrical identification technology.

[TomPluz]

Facial recognition technology can be helping but just any other available technology implementing and imposing its use can be a big challenge. But first, this can be used in KYC requirement though we know that even the use of KYC has not really stopped many Bitcoin scams from happening. As long as there are people who can be enticed to be greedy, there will always be scams as we know that scammers can be so creative and innovative on how they can hoodwink people to cough out money from their wallets. Still, we should welcome any help.