Blockchain technology, while developed as the transactional system used by the cryptocurrency Bitcoin, is becoming recognized as a security solution for all kinds of transactional data, such as the exchange of biometric data between the capture and matching processes.
Blockchain technology offers more security because it recreates and distributes a database across multiple computer servers and requires any change, or data transaction, to be recorded and approved simultaneously across dispersed systems. Blockchain also makes use of hashing algorithms, which make data unreadable to humans while simultaneously retaining their ability to verify data ownership. These measures provide more security than centralized IT systems, which are more susceptible to hacking and manipulation because all data is retained in one location.
In mid-2016, Factom, a blockchain startup company, received a grant from the DHS to produce an IT blockchain security solution.