IAME

IAME

IAME has been designed as a decentralized identification system that runs on the blockchain. The system will allow parties taking part in a blockchain transaction to verify the identity of one another without the need to disclose non-essential facts.

To achieve this, the system fragments information to an unintelligible level and with the help of third-party validators, verifies each fragment of data. The summation of the verification of fragments leads to complete identity verification. However, only the original owner retains the wholesomeness of their data.

More About IAME IAM

The major issue regulators face when thinking of integrating digital currency into the real economy is the ability to identify ownership of assets. Regulators need to be able to understand where you are getting the digital currencies and with who it is you are transacting. When the Bitcoin was being developed, these issues were never thought through. However, Bitcoin’s blockchain has remained the base architecture for all other existing projects that use the blockchain.

The developers of the IAME project are of the opinion that if the issue of identification is never resolved, mass integration may never happen. This is because regulators will always oppose anything that does not allow them to identify the source and destination of funds. Most regulators believe that digital currencies are a hotbed of money laundering because tracing the owners is so difficult.

The IAME project hopes to change all that by creating a new system of identification. In the current financial system, identification takes place via a process of wholesome surrender of personal data. This system was created decades ago in an effort to fight money laundering. However, it is not relevant in the current era of digital currency.

If the current standoff between digital currencies and regulators continues, it will lead to digital currencies being hurdled into a niche system where criminals are the ones who use it. Alternatively, it could slow down the crypto economy tremendously because of the weighty compliance threshold that will be placed on it.

The Current Challenge

The implementation of current identification protocols on the blockchain is not compatible with the ideals of decentralization. However, the principle of anonymity is at odds with regulatory requirement for anti-money laundering laws. Thus, there is a need to get to a compromise. This will enable the two sides to come to a symbiotic existence where everyone gets what they need.

The Solution That IAME Proposes

To arrive at a working solution, the IAME project proposes to reinvent the identification process. Thus, it proposes a change from a wholesome to a fragmented system. There will be clearly identified topological spaces, which can be used as a point of entry for regulators. The IAME network will thus seek to resolve the issue of anonymity without halting the blockchain revolution.

By creating a fragmented identification system, users of the blockchain can be able to validate their address without having to entrust sensitive data to every party with which they interact. However, it can still help regulators identify users to ensure they are not engaged in money laundering.

Milestones

1

October 2017 – Technology Conceptualisation

IAME: An Expert System for Blockchain Identity Verification

After 3 months of Research & Development, the technological architecture and development plan for the IAME Identification network was completed by the Co-founders.

https://iame.io/res/IAME-White-Paper-en(Final).pdf

2

January 2018 – Angel Investment

Many blockchain startups initiate an initial coin offering with just an idea in mind, the Co-fouders team spent months pitching toangel investors to come up with a viable development and go-to-market strategy, hence securing the necessary funds to kickstart development.

As at date USD 180,000 have been raised.

https://www.crunchbase.com/organization/iame

3

February 2018 – Prototyping

Two prototypes have been released – one for identification and one for validation. Through the prototypes, users can experience the identification and the validation systems that are being proposed by IAME.

https://blog.iame.io/identification-prototype/

https://blog.iame.io/identity-validation-iame-prototype/

4

March 2018 – iOS Proof of Concept

To show what the team is made of, a iOS mobile proof of concept is released. This proof of concept is actively being developed with new functionalities being added every week to reach a minimum viable product status.

https://itunes.apple.com/it/app/iame/id1356513567?l=en&mt=8

5

March 2018 – Android Proof of Concept

Following the iOS Proof of Concept, an Android version is made available. This proof of concept is actively being developed with new functionalities being added every week to reach a minimum viable product status.

Team

ADVISORS

Jevon Coffin-Grey

Specialty: Blockchain Technology

Oliver Oxenham

Specialty: Engineering, Entrepreneurship

Nicholas Allen

Specialty: Product Development

 

Shaun Ritson

Specialty: Enterprise Integration

Clayton Scott

Specialty: Financial Advisory

Andre Bergh

Specialty: Engineering, Big Data

Jason Hung

Blockchain Advisory

TEAM

Nathaniel Tsang Mang Kin

Co-founder / Compliance

Suryani Chang

Co-founder / Back End

 

Chirag Patel

Front End

Ari Vivekanandarajah

Community Manager

Ludovik Lejeune

Front End

Kevin Chung-Fat

Backend

Stephen Sunassee

UI Designer

for more information:

https://iame.io/

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