ICO AuthenticID

Identity and payments are changing profoundly as blockchain projects transform the concept of both. The AuthenticID Smart Identity platform enhances both security and privacy of global transactions. AuthenticID’s Smart Identity Platform is dynamic and flexible providing the optimal level of proven identity authentication. Smart Identity enhances your privacy, security and control of your personally identifying information.

All transactions involve some degree of trust and reputation which are dynamic and contextual. This fundamental principle exists both on and off the blockchain and can be illustrated by the Identity Trust Flywheel. The value, reliability, and completeness of a transaction are based upon the level and authenticity of trust. Government and industry cooperatives such as FIDO in the U.S. and others internationally are developing consensus methods, standards, and qualifications for automated processes to allow reliable nonhuman trusted systems. These qualified automated trusted systems will quickly act as the fly wheel to drive the AuthenticID automated identity paradigm. 

While the blockchain provides for a decentralized trusted approach to all its transactions, its ability to interact with off chain systems, as well as real people or identities is limited in today’s iteration. The notion of identities of people, businesses, and machines is absent from the blockchain in any meaningful way beyond the use of private/ public keys. There are many use cases that require additional authoritative information (e.g., Smart Oracle data sources) or authenticated confirmation from a person that is party to a transaction.

By 2050, the global population is expected to be nearly 10 billion. That is billions of individual identities that will interact multiple times per day based upon the principle of Identity Trust. AuthenticID’s Smart Identity Platform links and binds anything with a unique identifier (UID) including billions of Internet of Things (IoT) devices that need identity authentication and audit recording. The Smart Identity Platform will support many different use case applications impacting every industry. Our vision is to bring trust back to the Internet – from the first mile to the last mile - to improve the integrity of all identity-related transactions to reduce friction, increase on-boarding efficiency and reduce risk.