Do you know that any information we share makes us vulnerable to theft and any information we collect makes us vulnerable to litigation? Then what is the best way to solve this problem? One of them is the identity verification process. There is a project that offers a system to verify identity on the blockchain ecosystem. The project is called IAME Identification Network. A company from Mauritius, a tropical island located off the east coast of Africa. The company pioneered identity verification and data security for cryptocurrency based on their decentralized split identification system (“DFI”). I will try to discuss about the project in this post.
What is IAME?
The IAME Identification Network is a decentralized identification system built on the Blockchain ecosystem. This system allows parties who transact on the Blockchain ecosystem to verify the identity of each other without having to disclose unnecessary personal information to other parties involved in the transaction. The system will do this by splitting information into parts of the data that can not be understood which are then distributed to many independent third-party validators that verify the authenticity of each of these fragments.
Identification will be done by many independent third-party validators, each verifying the complete information fragment together so that only the original owner of sensitive personal information stores its data in a holistic and useful way. The results of the identification process will be hashed into a designated blockchain that can be accessed in the public repository in such a way that the identification status and cryptocurrency source associated with a given blockchain address are consulted, without compromising unique identification data.
The proposed IAME Identification Network will have a core consisting of the following components:
2. Server allocation
3. Server validation
4. Blockchain that can be written
5. Identity server.
Each component will perform a specific function that can be shown in 2 processes namely the validation process and the identification process. Let’s look at the following validation process diagram and identification process:
To operate the IAME Identification Network, a functional token will be issued, known as the IAM token, which will operate as a validation token to initiate a confirmation request for the validation package on the IAME Identification Network. The process will spend tokens through IAME Network Client identification and after deducting the equivalent blockchain hashing cost, the IAM token balance will be paid as a reward to third-party validators who operate the non-profit validation process.
Information about token offering (ITO)
IAME Tokens are initiated with the code “IAM” based on Ethereum. Here is information about IAME tokens.
Token Name: IAM
PreICO price: 1 ETH = 15,000 IAM
Price in ICO: 1 ETH = 10,000 IAM
Well, how do you think all after reading the post from above do you think this project worthy to be used as a place of investment? In addition to this, below I will show you the info about investment from IAME.
Distributed in ICO: 50%
Soft cap: 1,000,000 USD
Hard cap: 25,000,000 USD
If you are interested to invest in the IAME project. Please visit the official website through the link below.
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