IAME is a decentralised identification system built for the Blockchain ecosystem.
Public ICO April 1 – June 30, 2018
Interview with IAME
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
IAME: Since the financial crisis, the burden of compliance has been weighing on the financial industry ever increasingly, which is one of the reason why cryptocurrencies have picked up. However the biggest issue with integration of Cryptocurrencies into the regulated world is the identification of ownership.
While attempts have been made at identification they do not take into consideration several major issues: that traditional KYC cannot guarantee that the sender in a cryptocurrency transaction is the owner; that cryptocurrency accounts (public key private key pairs) can be generated anonymously in mass; and that wholesome data sharing between parties pose security risk to both counterparts.
These are the problems that IAME seeks to resolve.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
IAME: IAME will be addressing the above mentioned issues as follows:
– By anchoring identification to a cryptocurrency address, ownership to a real person can be ascertained.
– Though the collective identification of cryptocurrency addresses, an identified network can be built to be used as a point of entry into a genuinely identified cryptocurrency network.
– Fragmented identification will remove all security risk to the individuals in the network by making interceptions of data or database hacking, hack worthless.
Furthermore fragmented identification will be made commercially viable as the fragmentation of the identification process would lower the entry barrier to validation of identities, enabling the whole process to be crowdsourced at a fraction of current costs.
BC: How do you think competition will develop in this segment of the market following your ICO?
IAME: Both traditional fintech and blockchain based identification companies have been evolving in the direction of wholesome identification and centralised data hoarding, it being the norm for the past century, and contrarian to the ideas behind blockchain and decentralisation.
We expect adherence to the idea of fragmented identification to pick up in the near future when such a severe data breach compromises the identification of a subsequent amount of individuals, that an alternative form of identification becomes an economic need.
BC: For all those who have read your white paper and are still on the fence about contributing with your ICO, what can you tell them that could lead them to buy into your project?
IAME: The IAME team has been working since mid of 2017 on building the architecture for the IAME Identification network, and developing a viable go to market strategy, rather than rush into an ICO empty handed.
We have already completed 3 round of seed funding with angel investors and have kick started development with our mobile proof of concept being released on the Apple Appstore and Android Playstore prior to the launch of the ICO.
Our focus has been on resolving a global problem to come rather than playing catch up with other blockchain companies. Only by orienting one’s look at the future can the true value of IAME can be comprehended.