IAME: Identity Verified, Not Exposed

Blockchain’s main advantage is the level of security it provides, which allowed for the uprise of Bitcoin and other cryptocurrencies. However, the high value of popular crypto makes the blockchain ecosystem a big game for hackers, scammers and swindlers, making it ever more vulnerable. IAME aims to secure the identity of blockchain users.

The idea behind IAME is to allow for identity verification while keeping the data impossible to use by abusers. Instead of promising to make user identity hack-proof, they want to make it completely hack-worthless.

Key Features

Fragmentation

In order to prevent disclosing any non-relevant data to a counterparty through identification, IAME delegates the mapping functions to unrelated third-party validators. The relevant data is fragmented so that the fragments can be used by the validators not affiliated with any parties operating as members of the transaction for the sole possible purpose of confirmation. One such fragment is otherwise completely useless should it fall into the hands of an unauthorized person.

Identification

Although the data is fragmented and each of the fragments is confirmed separately, this allows for complete identification. The validations sum up into the whole to finalize the identification process.

Validation

The above-mentioned validators are independent users. The validation process is facilitated with a mobile app making it possible to go through within a simple and clear interface. The app users earn IAM tokens for completing validation tasks.

Roadmap

The road of IAME begins with the proof of concept in the first quarter of 2018. They have recently completed the development of the peer-to-peer payment system. The roadmap is an implementation plan with milestones scheduled through early 2020.

The private sale of IAME tokens has been live since April 18th and will close on May 20th. They plan to run the first pre-sale from June 6th through June 10th, which will be followed by the second pre-sale starting on June 20th and ending on June 24th. Finally, the IAME ICO is scheduled for the period between July 4th and August 24th.

Team

The IAME team is headquartered in Quatre Bornes, Mauritius. It is comprised of:

Nathaniel Tsang Mang Kin, co-founder and Head of Compliance. Nathaniel’s previous experiences include mainly trading and investment management.

Suryani Chang, co-founder and back end / blockchain developer. Her LinkedIn profile features experience in IT as a consultant and lead development since 2004.

Chirag Patel, lead front-end developer. Alongside his role at IAME, Chirag holds the position of a lead Android developer at Syft where he has been working for the past three years. His career as a programmer began when he joined Mfuse Ltd as a JavaME developer.

Ari Vivekanandarajah, community manager. Since February 2017, Ari has been working as a marketing consultant for Hype Insight Global. His previous experiences include four years as Head of Marketing at Ecologital Limited, one year as a business analyst at Nadastra, Inc., and two years of training and assistance at DFCC Bank.

Ludovik Lejeune, front-end developer.

Kevin Chung-Fat, back-end developer.

Stephen Sunassee, UI designer.

Advisory Board

The advisory board of IAME includes seven experts:

Jason Hung, serial entrepreneur, co-founder of Treascovery, Chidopi, and TimeBox, and advisor to more than 20 ICOs including BitRewards, BlockLancer, Datarius, ICONIC, AIDA, EZPOS, Suchapp, USAT, EVENFOUND, CoinArt, and SafeCrypt.

Oliver Oxenham, co-founder of Peekspy, which was later acquired by the eBay-owned company, StuBhub where he worked as a lead software engineer until recently.

Nicholas Allen, co-founder of AvantCore and expert in electronics and product development.

Jevon Coffin-Grey, CTO of AvantCore and SA Lantern, expert in blockchain and IoT.

Shaun Ritson, co-founder of AvantCore and expert in software development and enterprise integration.

Clayton Scott, CEO of SA Lantern, co-founder of AvantCore, director of Wildner Inc, auditor and financial expert.

Andre Bergh, co-founder of AvantCore and expert in leading large development teams.

Token Sale Summary

Project name: IAME Token ticker: IAM Type: ERC20 Website: https://iame.io Whitepaper: https://iame.io/whitepaper Requirements: KYC Private sale dates: April 18th — May 20th Presale 1 dates: June 6th — June 10th Presale 2 dates: June 20th — June 24th ICO starts: July 4th ICO ends: August 24th Minimum cap: 1,000,000 USD Maximum cap: 25,000,000 USD Total token supply: TBA Conversion rate: 1 ETH = 10,000 IAM Collected to date: N/A

IAM Token Allocation

Use of Proceeds

The IAME team considers three scenarios of fund allocations depending on the results of token sales:

Following and Media Coverage

The IAME website features publications on ICObench, ICOholder, and TrackICO.

The IAME Twitter account has 5,216 followers, their Telegram group has 2,208 members, and their Facebook page is followed by 3,409 users.

Competition

Neither IAME whitepaper nor their Business Plan document describes their competitive environment. The latter, though, mentions the following features as a competitive advantage: Third-party validation; Outsourced KYC; Merchant adoption; Enterprise solution.

If you Google “identity security with blockchain” you will, at least, discover that Microsoft and IBM are working on similar solutions. We believe that IAME should outline how exactly theirs is going to be better.

Whitepaper and other documents

The IAME whitepaper is a 13-page explanation of the technology and ecosystem. The business vision of the team is presented on 20 pages of the Business Plan document. Both papers seem to provide information in simple, apprehensible language.

Conclusion

IAME is led by the experienced team. They seem to be moving quickly with development, as long as they have already presented an interactive prototype allowing any of their website visitors to see how the mobile application will work, even though the project was started only early this year. However, we would love to see a more detailed vision of how IAME is going to be competitive against similar projects, especially those by the likes of Microsoft and IBM. Another concern is the relative weakness of IAME’s presence on media and social platforms compared to that of other blockchain projects that have been worked on for the same time. However, this could be due to their focus on development.

Website: https://iame.io
Whitepaper: https://iame.io/whitepaper
Telegram: https://t.me/iame_identity
Twitter: https://twitter.com/@iameidentity
Facebook: https://www.facebook.com/IAMEidentity
Medium: https://medium.com/@IAMEIdentity
ANN: https://bitcointalk.org/index.php?topic=3218491.
Author: https://bitcointalk.org/index.php?action=profile;u=980049

Disclaimer:

This review by Bonanza Kreep is all opinion and analysis, not investment advice.