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IAME Identity (IAM) ICO Review

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IAME Identity is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameIAME Identity
Token SymbolIAM
WhitepaperView Whitepaper
Website LinkHome
AcceptingETH, QTUM
PlatformQTUM
Soft Cap250,000
Hard Cap1,000,000

More about IAME Identity (IAM) ICO:

IAME is building the first truly decentralised cross-blockchain identification system based on its proprietary sharding technology and consensus identification.Powered through individualised Identity DApp, IAME will be the first blockchain identification system that would enable the detection of suspicious activities or the isolation of potentially dangerous users.

Regulatory integration and mainstream adoption depend highly not only on the implementation of Know Your Client (KYC) but also Anti Money Laundering (AML) and Counter-Terrorism Financing (CFT) processes, which are difficult to conduct when all cryptocurrency transactions are anonymous and decentralised.

With our decentralised identification framework, we will allow cryptocurrency users to verify the identity of each other without having to disclose non-essential confidential information; and to make sure that they are not involuntarily involved in any illicit activity.

The IAME app allows users to attach their identity to their cryptocurrency addresses, identified addresses being the first step towards mainstream integration. Any documentation that will be uploaded on the IAME app will never leave wallet as whole, but as encrypted fragments to be validated by the IAME Identification Network. With IAME the fallout of identity data breaches will be a thing of past.

At IAME we know where we are going and how to get there, which is why we do not need to wait for the ICO to be completed to start development. We come with more than just an idea in mind, which is why we will succeed.

Introduction

Under the original Bitcoin whitepaper​1​, it was made intentional by ‘Satoshi Nakamoto’ that a user’s identity remains anonymous.Thisprinciplewasreplicatedinallsubsequent developments which resulted in the blockchain ecosystem being wholly anonymous: transactions occur between blockchain addresses which have no reliable identification attached to them.

In the absence of any identity linked to blockchain addresses, there has been a lot of regulatory concern that this anonymity is being actively abused in illegal transactions, such as drug trade, extortion, money laundering andpotentiallyterrorismfinancing.Itis from this perspective that we consider identification for cryptocurrencyasbeingthekey to regulatory integration, and mainstream adoption.

Identifying

a user involves solving the questions of what we know about the user and whether we can verify that the is are who he says he is. However, when identifying transactions, we aim to understand who the user is interacting with and in some cases prevent such transactions from taking place.

Several attempts have been made over the past few years at building identification systems but nonehavetriedtoidentifycryptocurrencytransactions.Insteadthefocushas been on building centralised platforms to store user information which are now facing scrutiny from privacy laws such as the European General Data Protection Regulation​2 (GDPR). Changes in the law regarding identity data storage will become more severe and within a matter of years, and identification as we know will cease to exist.

Under the IAMEframework,thewayidentityinformationisstored,sharedandvalidated is completely decentralised, making it perfectly compatible with the nature of blockchain. This whitepaper addresses the construction of the identification framework as follows: section 2,IdentityDecentralisation,explainshowtoconstructadecentralised identity; section 3, Data Validation and Sharing,showshowtheidentityisvalidatedand used; and section 4,TransactionAnalysis,demonstrateshowtheidentifiedaddressescan be used to detect illicit activities.

Identity Decentralisation Identity is the first module of the framework. It is built by ascribing attributes such as first name, last name, age, phone number, etc. to particular persons, and proving the authenticityofthoseattributes.Themoreattributesapersonisascribed,themoredefined is his identity; and the more those attributes are verified, the more genuine is his identity.

Conventional identification requires people to share as much personal information through the transfer of sensitive documentation to counterparties which is a major security to the person sharing the data. This is transforming conventional identification from security systems to a security risks, and is neitherscalablenorcompatiblewiththe new decentralised ecosystem.

The decentralisation of identity needs to be prioritised, starting with how the identity is constructed, and how the identification data is stored in order to ensure user safety. Within the IAME framework we will explain: how we construct identity,howweshard information for identification and storage on the blockchain, and how we make use of consensus system to achieve a decentralised identity status.

Constructing an Identity

Identities are not the fixed markers, but dynamically constructed 3 from two main sources:
orthodox and unorthodox. Orthodox sources have a relative tangibility such as:
government issued identification documentations, trusted third-parties statements, and
biometrics. Unorthodox sources relate to the identity that can be derived from new
technologies such as a phone number, an email or social media accounts. Even if
orthodox sources are more trusted than unorthodox ones, both hold significant merit in
the establishment of a unique and reliable identity.
To construct an identity, a party submits a statement filled with data about himself or
herself, and supports that statement with either orthodox or unorthodox identification
sources as supporting documentation. After mapping the statement data to the supporting
documentation, a decision is reached on whether the identity of the party can be
ascertained.

The process assumes that: if the party is genuine then all provided statements can be
mapped onto supporting documentation. In principle, the more data that can be mapped
on more supporting documents, the more difficult it is for a party to falsify its identity. In
general identity mapping functions can be categorised as:

  1. Statement to string confirmation (e.g alpha numeric attributes);
  2. Statement to non-string confirmation (e.g biometrics or photographs);
  3. Statement to publicly available information confirmation (e.g public records);
  4. Statement to privately available information confirmation (e.g private records);
    and
  5. Statement to government records confirmation (e.g Authority issued document).
    Any identification process that can gather a maximum of the above mapping data is ideal
    for identifiers to guarantee that they are dealing with a genuine person. However, the
    centralised pooling of those information can be disastrous for the data sharing party in
    the event of a security breach at the identifier level.

Document Sharding

Building on the previous identification process, the same mapping functions can be
achieved without the party disclosing any non-relevant data to the identifier – by
sharding 4 and delegating the mapping functions to unrelated third-party verifiers (TPV).
The statement, supporting documentations and functions, would first have to be sharded
in such a way that the TPVs who would be confirming shards of data, which on their

own, cannot be used by any malicious third party, but the summation of identified shards
would constitute a complete identification.

Consider a simple scenario whereby a counterparty requires confirmation of 3 string type
statements with an identification document as supporting evidence to identify a user:

  1. First Name: “John”
  2. Last Name: “Doe”
  3. Nationality: “British”
    In the sharding process, we send the 3 string type statements with their corresponding
    data shard to 3 different TPVs who would each confirm the content of the string against
    the data shard. Contrasted with a traditional identification process, in the sharded
    identification process, each TPVs have a limited amount of information on the user .
    However, this sharded identification process can be drawn even further to transform any
    useful string type statement into unintelligible data, which is how information will be
    sharded in the IAME framework:
    String Type Statement: John
  4. Fragment A: “Jo”
  5. Fragment B: “oh”
  6. Fragment C: “hn”

Using the above process, we have rendered the string type statement, “John”, useless to
potential malicious TPVs.

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