Why Investing in Facial Recognition is Trending among HNWI

Christopher Zenios01/07/20193min
Imagine a world where you could make payments or transactions without having to pull out a credit card, cash or even a mobile phone but by using facial recognition. Imagine a world where individuals would spend less time in airports or various governmental offices. Facial recognition seems quite fitting in this case.

The Problem: Identification Fraud

Identification fraud has been a problem for authorities for a very long time and in modern times the internet has made things easier for people to fall victim to this crime. The internet has made it easy in the sense that someone can steal your identity from a different continent and spend your money or commit crimes under your identity in just a matter of minutes.

Reports show that close to 15 million people fell victim to identity fraud in the year 2018. The reason is that criminals tend to test different technologies first and find ways to hack a person’s credentials and do harm.

The Advantages of Facial Recognition

Facial recognition can also be very convenient. As mentioned at the start, it could lessen the time in airports and different offices but most importantly is the application in the healthcare field.

Emergency response systems could gather information about you if you were unconscious or had no one around to recognise you. High Net Worth Individuals (HNWI) that have a tendency of travelling to far away destinations, countries that speak different languages, may fall ill and paramedics would have your medical records in their databank.

This can all be accomplished of course with the help of Blockchain technology which is a technology to be reckoned with. Blockchain may improve and help against the fight against identity fraud and this is why HNWI invest in technologies like facial recognition. As time progresses, HNWI are trusting more and more this tech and will be implemented for usage in most, if not all aspects of their lives.

HNWI Investing in Facial Recognition

Trust has been built over a number of years when it comes to facial recognition and HNWI are investing in it more and more. It’s a trend among these individuals as companies develop and sell this tech. Investment also involves the time to do their due diligence and educate themselves further and discover new areas of where they can use this future technology.

It’s obvious that the use of facial recognition in HNWI’s lives and ultimately their entire world is highly beneficial to them, as it detects and prevents crime done to them personally, family or their company. These individuals look for accurate, smart improvements in their lives in order to protect all their assets and of course their legacy.

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at [email protected] for editorial related questions.

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