If you are reading this paper, you are likely to have some knowledge about cryptocurrencies. If not, you should do some small researches on Google to find out more about it. There are hundreds of articles and communities which will show you the way. You can head for some keywords such as ICO, Bitcoin (BTC), Ethereum (ETH) and plus more. If you already did your homework, I can now explain to you why this post is written. Nowadays, ICO market is just like the Wild West during the peak time of gold rush. If you know the way, earning good money is not some difficult, but you have to find a good-enough project to invest in. Here is one of the promising projects that I am extremely excited to tell you: IAME
Introduce to IAME platform
The IAME Identification Network (https://iame.io/) 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 IAME plan expects to change entirely that by making a new platform of verification. In the present financial system, verification takes place through a procedure of wholesome surrender of individual data. The platform was made a decade ago in an effort to fight currency laundering. However, it’s not connected to the presence of virtual money.
The functionality of the IAME Identification Network would principally serve Blockchain P2P transactions, however, usage would be extensible to merchant transactions and financial institutions in the provision of blockchain related services.
The proposed IAME Identification Network would have a core that consists of
- a client,
- an allocation server,
- a validation server,
- a writeable blockchain, and
- an identity server. Each component would carry out specific functions that can be demonstrated in 2 processes - a validation process, and an identification process.
Why IAME project look promising
There is both a practical imperative and commercial need for a non-invasive identification system for decentralised blockchain technology and we believe that the IAME Identification Network will be the bridge that will link blockchain technology to the regulated world. IAME is among the projects that I have found potential in this blockchain era. Below are some reasons why I am telling this:
- IAME has a potential concept as it provides a lot of benefits for many parties involving in the platform:
The creators of IAME platform are of the opinion that if the issue of verification is never resolved, bulk integration might never occur. This is because lawmakers forever oppose everything that doesn’t permit them to verify the source and field of funds. Most lawmakers believe that virtual money is a hotbed of currency laundering because of tracing the holder is so hard.
To counteract the risk of third-party validators attempting to “game the system”, given that it runs on a for-profit basis where third-parties are paid to validate information, the IAME identification network deploys a symmetric game model that uses a method of “tribunal validation”, where consensus determines validation – secondary tribunals come into play in the event that a consensus is not initially reached and an appeal is required. No single party, therefore, has control over the identity validation process. Therefore, you can rest assured knowing that the unaffiliated validators of your identity are not only motivated but checked by our intelligent validation model.
Once a user attempts to fragment and verify their identity, this fragmented data components result in a prompt being sent to the validator platform where predetermined validators are ready to take on the task. The system encompasses a for-profit approach, which means that validators are rewarded for their contributions
By making a fragmented verification system, consumers of the block-chain can be capable to validate their address with no having entrusted sensitive data to each party with that they interact. However, it can remain help lawmakers confirmation user to make sure they’re not connecting to money laundering.
- IAME has a strong team:
The team of LikeCoin consists of probably the strongest tech members who have many years experiencing in blockchain industry. Coupled with experienced advisors, the team is perfectly prepared to deliver an impeccable product to the global market.
The IAME** **team always emphasizes decentralization as one of their emphasis. Promising to be the end-to-end solution for personal or professional communication to a range of people that range from families to investors and users. Also a solution for professional collaboration between programmers, artists, and businessmen. IAME already has plans to expand their tools.
- IAME has the well-built documentations and road map
The whitepaper of IAME in English is available at: https://iame.io/res/180301-IAME-White-Paper-en.pdf. It contains the information about the project. This whitepaper is very nicely-designed and the information is illustrated in details.
Besides the good whitepaper, the website is also very detailed, contains all necessary graphics and information about the token sale, the platform and the FAQ. The website is designed in an innovation way which also gives the links to social media pages and documents.
Token sale
To operate the IAME Identification Network, a functional token will be issued, known as the IAM Token, which would operate as a validation token to initiate confirmation requests for validation packets on the IAME Identification Network. Parties would spend the token through the IAME Identification Network client and after deduction of equivalent blockchain hashing costs, the balance of IAM token would be paid out as reward to third-party validators who operate the validation processes on a for-profit basis
The value of the IAM Token would be, in essence, determined by 2 factors:
- The cost of validation, which would be proportional to the financial cost of hashing the requested amount of data on the designated blockchain, setting a price floor for the token
- Market demand, which would be proportional to the demand for blockchain identification based on the IAME Identification Network
Token info
Token Name: IAM
Platform: Ethereum
Type: ERC20
PreICO price: 1 ETH = 15,000 IAM
Price in ICO: 1 ETH = 10,000 IAM
Conclusion
To sum it up, аs а pаrt of our review, we see strong potentiаl in this ICO. The concept of the project is very useful and potentiаlly very profitаble. With a functional IAME Identification Network, the primary application would be the facilitation of blockchain P2P transaction, such as online merchant transactions. Taking into consideration a simple online purchase where a customer purchases a physical good from an online merchant with Cryptocurrencies, the amount of personal data that is communicated from the customer to the merchant can be segregated into two categories: essential to the transaction and non-essential to the transaction.
Essential information would be a name and an address without which the transaction and the delivery of the good cannot occur. Non-essential information would include, for example, an identity document to prove the name of the customer, a utility bill to prove that the address belongs to the customer, and the specific date of birth of the customer
The site's design looks good and all of the information are provided transparently and with many details. Going by their strong team and extensive roadmap on the website, IAME definitely does not seem like a short term project, it is worth investing both from short аnd long-term perspectives
The sooner you will support the project by buying its tokens, the better price you mаy expect аlong with bonuses. So far, the platform looks promising with all the required areas covered. However, we advise you to invest carefully as there is no 100% guarantee on success. Also, the securities market may sound a bit risky for some new investors.
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**Interested readers can take a closer look at the following links: **
Website: https://iame.io/
Whitepaper: https://iame.io/res/180301-IAME-White-Paper-en.pdf
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile&u=1417448
Contact: [email protected]
Telegram: @joseph_ive