Identity theft continues to be a pressing problem virtually everywhere in the world. Although advances in technology, especially in artificial intelligence, mean that cybercriminals are increasingly perfecting their techniques for committing fraud, the truth is that citizens’ lack of care or supervision in handling and managing their personal information means that it is precisely the victims of fraud who often open the door to these attacks.
One of the main advances in the financial sector in terms of user protection has been the widespread adoption of virtual credit and debit cards which, unlike conventional cards, offer an additional layer of security as they are stored on users’ mobile phones, which require different verification techniques before use. This advance, however, has been delayed in terms of the user’s digital identity: today, many users need to send copies of their identity documents to open bank accounts, contract telecommunications services, etc.
What use is made of this documentation once the transaction for which it was sent has been completed? In the hands of third parties with unclear interests, this shared information can be a gateway to fraud with significant economic consequences: according to the Global Anti-Scam Alliance (GASA), fraud—often facilitated by theft and identity theft—caused losses of more than $1.03 trillion worldwide in 2024… a figure that is expected to be exceeded in 2025.
Introducing BioCode by Identy.io: A New Standard in Digital Identity
To address this growing problem, Identy.io developed its BioCode solution a year ago, a technological alternative that allows users to securely access all kinds of services and verify that they are who they say they are anytime, anywhere, without having to rely on complicated technological devices or a powerful and stable internet connection. If this solution was celebrated as a digital identity alternative that allowed users to carry their credentials on their own mobile phone, as if it were a digital wallet, then the current evolution of fraud statistics and regulatory pressure make BioCode by Identy.io more relevant than ever on its first anniversary. More than a wallet, BioCode by Identy.io is a portable, encrypted container of biometric and biographical data, sealed within a digitally signed QR code that can be scanned and verified in real time—offline or online.
Why is BioCode by Identy.io useful and what is it for?
Until recently, when users decided, for example, to open a bank account, they had to go to their bank’s office to present their identification document, so that the bank could verify that the user who wanted to open the account was who they said they were. However, this was not always convenient: elderly people, people with reduced mobility, or simply people who live hundreds of kilometers from the nearest branch office faced significant barriers that were difficult to overcome.
Thanks to BioCode by Identy.io, once users have completed their digital onboarding—that is, the process by which Identy.io’s technology checks against a database that the user’s biometric features, whether fingerprint or facial, actually match—they can verify their identity from their own home or wherever they are, with the absolute guarantee that only they decide what information is shared at any given time. Furthermore, as their personal information is stored and managed on their mobile phone and not in the cloud or on third-party servers, the risk of data leaks or theft is reduced to virtually zero, safeguarding their data privacy at all times.
How Does BioCode by Identy.io Work?
The BioCode by Identy.io platform is designed to meet the highest security standards on the market to ensure that all information is always protected, tamper-proof, and accessible only to the legitimate user and the trusted entity with which they are interacting. To this end, each BioCode by Identy.io is composed of several elements:
- A digitally signed QR code, issued by a verified authority. When scanned, the solution asks the user which personal attributes they wish to share (e.g. age, name, credential type).
- Biometric access using fingerprint or facial authentication, ensuring only the legitimate user can unlock their information.
- Public Key Infrastructure (PKI), digital signatures, and RSA 7680 encryption (SECP384r1 ECC) that prevent tampering or impersonation.
- Offline functionality, with availability ensured via local verification—ideal for areas with no network access.
Additionally, biometric and biographical data are securely packaged into a Digital Stream, which can be embedded in QR codes, stored on mobile phones, or transferred to smart cards via NFC or Bluetooth.
What are the real uses of BioCode by Identy.io solution?
The BioCode by Identy.io solution has multiple uses, especially in situations where identity verification or secure user authentication is required, both in the digital and physical environments:
- Opening accounts on online services: whether when opening an account at a bank, on an e-commerce platform, when contracting a telecommunications service, or in general at any time when it is necessary to verify the user’s identity. In these cases, the process is streamlined, allowing it to be carried out practically in real time, and eliminating the need to share physical documents or digital copies with third parties.
- Secure access to digital platforms and applications. BioCode by Identy.io makes logging into all kinds of online accounts, banking apps, or health portals simpler and safer.
- Electronic signing of documents. The solution developed by Identy.io allows verifying users’ identities when signing contracts or agreements, giving legal validity to the contract by ensuring that the user is who they claim to be.
- Management of digital credentials. For example, to receive or present university degrees or professional licenses, eliminating the need to carry out manual identity checks.
- Physical access to facilities. In the near future, this solution will be able to facilitate access to secure buildings, events, or may even replace current transport tickets, using verified digital identity for this purpose.
A Future Built on Trust: Built for Security, Built for People
What truly differentiates BioCode is its user-first architecture:
- The issuer (government, bank, employer) controls credential generation.
- The individual controls when and what to share.
- No backend storage of data, no need for network connectivity.
- Full compliance with Confidentiality, Integrity, and Availability (CIA Triad) standards.
Whether printed on a credit card-sized document, stored in a phone, or transmitted via smart cards, BioCode by Identy.io adapts to the user—not the other way around.
At a time when digital identity wallet solutions are just beginning to take their first steps in the market, Identy.io’s BioCode solution celebrates its first year as the benchmark in its sector, enabling secure, user-controlled, and frictionless digital transactions. Whether in finance, government, or everyday services, BioCode by Identy.io marks the shift from identity-as-risk to identity-as-trust.
