With the African blockchain market booming in recent years, it should come as no surprise that Mauritius, a beautiful island located off the eastern coast of Africa, is about to witness one of its homegrown tech start-ups, IAME Limited, launch one of the island’s very first initial coin offerings. The company’s core focus is on developing data and identity verification systems for the blockchain, which in hand is giving businesses around the world operating in the blockchain a fighting chance of mitigating the impact of any breaches they face.
What sets this start-up apart is its use of decentralised fragmented identification technology that fundamentally disrupts the identification processes in the blockchain space. Decentralized Fragmented Identification is the very antithesis of traditional identification processes that are dependent on the transfer of wholesome data from one party to another for identification to be conducted. As a result, conventional identification processes are far less secure, given that if either one of these parties experiences a breach, all data will be compromised. DFI completely disrupts this norm.
How? The system fragments the data being shared within blockchain transactions into unintelligible pieces of data that are then verified by a network of independent third-party validators. The identification process is hashed onto a designated blockchain and made accessible on a public repository where the identification status linked to specific blockchain addresses can be consulted, without compromising the identification data.
More than just an idea
Unlike many ICOs operating at this very moment, the team behind IAME has been committed to high levels of transparency and focus on providing investors, as well as interested parties, with the ability to test drive the system. It is with this commitment in mind that the team launched two working prototypes - one for parties seeking identity validation and the second for the third-party validators themselves. Additionally, the team has also launched the proof of concept of the IAME application, which can be downloaded directly off the App Store.
Given the complexity and applicability of the identiﬁcation network, the IAME development approach consists of two phases - primary and secondary. The primary targets comprise the development of the IAME core app, which includes a mobile Android/iOS wallet app, validator app, mobile API/backend services, validation server, and an identity server. Also, among IAME’s primary targets is the development of a payment gateway and integration capabilities to various exchanges.
In addition to the primary development targets, there are several secondary developments that can be employed to improve the IAME network. The secondary development targets comprise specific components that will work towards making the platform more commercially viable - these developments include an enterprise portal for custodial service providers, a SAS web portal for multiple account management, KYC databank integration, and an automation lab that will facilitate the open development of external APIs for third-party validator developers - including machine learning workshops and training.
The IAME ICO
Many of these development targets are predicated on how much funds the IAME ICO will generate. You can join IAME and be a part of its journey towards making vital personal data “hack-worthless”. The pre-sale is scheduled to take place between April 2nd, 2018 and April 6th, 2018, followed by the launch of the ICO on April 18th, 2018. The ICO will conclude on June 18th, 2018. The ICO’s soft cap is set at $1 million and hard cap at $25 million. For more information on IAME’s developmental and milestone-based targets, please refer to the company’s comprehensive road map.
Still not convinced?
The IAME team have already launched their Identification Prototype and their Validation Prototype. If you’d like a personal trial, the proof of concept of the IAME application can be downloaded directly off the App Store.
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