Illuminates (LUM) ICO Review
Illuminates platform is a crypto Social Media that includes various SaaS products which is developed using Relatefacts unvarying standard powered by Blockchain technologies. We want to make all Blockchain advantages available for everyone, and qualitatively improve the business interactions between investors, investment funds, traders, startups, freelancers and other blockchain market audience.
The Illuminates is a unique tool for creating trustworthy, transparent and comfortable interactions among business members in cryptocurrency. In this section, we will define the complete functionality and main benefits of this project.
Sep 14, 2019 – May 31, 2020
More About Illuminates (LUM) ICO:
The project Illuminates is developing a first social ecosystem that is making all blockchain advantages available. It will advance interaction between investors, freelancers, and startups. The best solutions and instruments will be gathered within one platform to help professional development and implementation of the most revolutionary ideas.
The platform is being developed by the technology company Illuminates, that has more than ten years of IT-services experience and since 2011 has been successfully engaged in the development and promotion of startups. Since 2017 the company has also been engaged in a number
of ICO projects. With all our experience we analyzed every twist and turn of this business, determined advantages of both centralized and decentralized solutions, and eventually came up with a unique concept of the ecosystem, that would ensure effective interaction between all ICO market and crypto community.
The platform will unite investors, funds, startups, and freelancers interested in working on particular projects and participating in ICO/ITO bounty campaigns, as well as official training centers, co-working centers, specialized hubs, and charity organizations.
To ensure the effective operation of this system we issued our own LUM token. It has a limited emission and is available for sale. Part of the commissions received will expire within the functioning of the ecosystem. Such an algorithm helps carry out complicated long-term tasks and quick verification of results.
The key elements of the system will be personal data and files hashing, smart contracts with oracles, load balancing and minimization of commissions due to the best configuration of decentralized and centralized parts of the ecosystem.
Our new technology solution
Relatefacts – it’s a methodology for constructing data stored in the blockchain. It will allow to create data interconnections between any blockchains that support smart contracts.
Relatefacts allows you to store and validate the fact via hashing its digital representation in the system of smart contracts, which will make reputation in a history form, and will show expertise of all users and system’s objects – in a form indistortiable by time or parties influence.
B2B Relatefacts solutions includes
Interconnection for private blockchains:
Relatefacts methodology will provide special data standardization that would be accessible through Illuminates SDK. Illuminates SDK will provide the functionality to create any smart contract with standardized data for legal entities and transfer any database data story into the blockchain. Mentioned data could be freely transferred to any blockchain using standardization and SDK.
Smart contracts developed with Illuminates SDK could be used for sharing information about entities, events, registrations, transactions, customers, ownership transferring, legal documents, etc., between legal entities. The information would be shared in a form of hashed ID without sharing personal information. Only selected information will be decrypted by data provider for the end user.
OTC for Banks & Exchanges:
Relatefacts methodology will help to save anonymity and increase transparency of OTC trading.Participants shouldn’t share personal info, only hashed ID, that will show data with user activities related to OTC. Using Illuminates SDK, OTC provider could develop special smart contract that will check and show all mentioned data without sharing personal information.
The other point is to make a transparent tool that will allow transferring fiat for buying crypto assets. Using Illuminates SDK, banks could create a solution which will allow supplying stable coins based on real assets, that banks had right now. In this way OTC provider could use Illuminates API and with mentioned solution from bank, transfer buyer fiat to convert it into stable coins, so the deal could be done legally.
As soon as deal will be done – hash of the results will be bonded to participants hashed ID, what will form their trading history.
API for Relatefacts data for SaaS platforms:
Illuminates API will synchronize information globally and provide access to additional services based on smart contracts developed through Illuminates SDK or standard Illuminates contracts for any SaaS platform. Such services will be based on Relatefacts technology, which will allow to use different blockchain solutions in every industry.
* SaaS platform A, planning to add KYC on their platform, but they actually haven’t any solution to manage it and have no clue how to check users. Using Illuminates API, platform A picking the preferable service provider and just sending a request with user standardized hashed ID to them. Service provider checking information in their database that’s bonded to received hash, and sending reply about user KYC status.
* Bank want to add feature for tokenizing real assets, for it customers. There is the problem with choosing blockchain to work with, because customers want to work with different ones. Using Illuminates API banks could implement a solution that will use Relatefact data standardization and supply security or stable tokens on any preferable blockchain. For every use of this API, the bank will pay a low commission for the service provider.
Real assets tokenization:
Every legal entity could tokenize their real assets and supply stable or security tokens using standardized Smart contracts developed via Illuminates SDK or use turnkey solutions via Illuminates API.
Relatefacts based smart contracts will create the hash of every event that related to mentioned assets and flow of supplied tokens. If there is will be legal disputes about ownership of assets, tokken supplier could just decrypt needed fragment of hash, and show full history of mentioned assets.
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