FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.
"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."
Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?
I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds
That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.
This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric
Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA
You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.
The whole combination is what makes it secure. You can make it difficult for majority to hack into it. If you are able to hack into it then be sure you can hack into any bank lol. In most cases all banks use similar security technologies; those technologies do not change overnight.
Exactly, this is the reason for cryptocurrencys coming out, is higher security and less of the hassle with banks, ( monitoring your money, charge fees, if you wanted to withdraw £5000 you cant with a bank but can with crypto)
As said above, if you are able to hack into that, then every bank will be screwed since they use similar technology.