For security, bitcoin firm eschews startups for a legacy partner – PaymentsSource

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The leading US bitcoin exchange, Coinbase, has begun using Jumio?s face match software for digital identity, adding another layer of legacy financial services on top of the cryptocurrency protocol that was created as an alternative to the traditional system.

Coinbase has been working with Jumio for several years, using the company?s identity verification service NetVerify. More recently, Coinbase has added a tool which requires some customers to take a selfie and a picture of their photo ID so Jumio can compare those two portraits. The process is used as a way to make sure the identification document a customer is scanning isn?t a stolen one.

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