ITRUE The End of The Era of Plastic Card
What is iTrue?
iTrue is a Blockchain-as-a-Service solution with a built-in authentication system with biometrics as its core microservice, enabling enterprises and developers to build secure, scalable and extensible applications. The iTrue token ecosystem rewards users for sharing their data, and businesses for participating in the data and app marketplaces. Our innovative stone storage solution ensures high speed and capacity without sacrificing security and privacy.
There is a growing demand for safe, efficient, and secure authentication systems, given the rise of online financial products and startup companies providing innovative digital services.
Services like cashless payment systems provide convenience and ease of transactions. Banks and fintechs are already exploring or implementing biometrics as a way to authenticate users.
Biometric technologies, however, do not give an assurance of secure and safe authentication on their own. User data can easily be compromised or misused with improper handling.
Users are therefore concerned about how businesses are using their data — fintechs and online services may be collecting, using, and selling personal data for their own profit.
Some Facts and Figures
More than half of e-commerce cart abandonment is due to forgotten passwords(49%) or forgotten debit/credit card details (59%) underscoring the need to improve authentication measures.
49% of the users in the US are concerned about their biometric data being compromised, while 35% are worried about their bank having access to the information.
Facial recognition in surveillance is legal in Russia and other countries, but is considered a major privacy threat, especially if the security of the system is compromised.
In Shanghai and Beijing in China, facial recognition is being used not only by state security and surveillance, but also by private companies. Example: Fintech provider ANT Financial is utilizing biometric scanning even in public places like the subway.
iTrue is the Solution
The combination of blockchain and biometric technologies will enable businesses to improve authentication through biometrics and eventually build and market their own applications on the iTrue platform and ecosystem. Reducing transactional friction through biometric authentication helps improve the user experience and enhance platform security at the same time.
With iTrue, users have complete control over their confidential personal data, and biometric authentication enables secure and seamless access to digital assets and even physical facilities, like a car or house. Since iTrue gives notifications where users’ data is being used, enterprises are able to integrate such privacy controls into their applications, thus helping businesses comply with the European GDPR regulations.
By implementing a blockchain approach, users and businesses are assured of a robust and scalable infrastructure wherein their records are secure and safe from data theft or misappropriation. Our solution is designed for high speed and capacity — overcoming the limitations of current blockchain tech.
The iTrue Token Ecosystem
iTrue’s blockchain-as-a-service platform enables applications to integrate authentication independent of passwords, gadgets and plastic cards — all through microservices as building blocks. But that is just one part of iTrue.
The ITU token brings together individual and business users into a single ecosystem with unlimited opportunities for scalability, under a decentralized platform for identification and data storage.
The platform itself does not sell user data. Rather, it enables users, clients, and developers to benefit from sharing and utilizing data on the platform.
Developers can build applications that take advantage of microservices, such as identity verification and authentication. Users are informed about each request for their data, and they are rewarded when they participate in data-sharing activities.
Our primary service for authentication with biometrics can be the basis of projects by third-party developers who will be able to integrate their own features and solutions into the iTrue platform.
Benefits of iTrue
For Individual Users
Users have full ownership of their data, and have full control over where their data is shared
User data is stored on a decentralized platform and never on local devices, thus ensuring better protection against failures or data theft
Ease of Access
Biometric access means never having to memorize a password again, and never having to rely on a gadget like a smartphone or credit card
Participation in Data Economy
Individual users can get benefits when they willingly provide data to clients and businesses that require it, in the form of tokens or other rewards
Blockchain-as-a-service comes with authentication platform and reduces the need to build one from scratch, particularly the ID verification
Compliance with Regulation
Tokenized data sharing mechanism informs users and seeks authorization before any data is exchanged, thus complying with regulatory frameworks like GDPR
Contractors who traditionally collect and process data can exchange existing data with other contractors who may hold their own data. To ensure privacy, such data sharing will still require user permission
Business gain access to both turnkey solutions and developer-customized applications right within the iTrue platform
Time-to-Market and Scalability
Access to iTrue microservices enables developers to build their enterprise or consumer apps on top of the iTrue platform. Such apps can be listed on the iTrue Marketplace for businesses and users. iTrue’s new type of storage also ensures speed, security, and accessibility.
Microservice developers get token rewards whenever other developers build upon their existing microservices; Application developers get token rewards when their solutions are utilized by other enterprises or users in the marketplace or when they are requested to customize or fine-tune iTrue applications for enterprise end-users
Extensibility and Turing Completenessi
True microservices are building blocks that enable developers to more quickly design and deploy enterprise or consumer applications. Developers can also build their own microservices into the platform, which other app developers can also utilize in building their own services and apps
The token economy ensures a fair and legal framework for exchanging and storing data, wherein users, developers, and businesses are rewarded for playing a part in the ecosystem.
Information of tokens
Token name: iTrue (ITU)
Nominal price: 1 ITU = US$ 0,01
Total amount of released tokens: 8 billion ITU
All the unsold tokens: will be burnt by the smart contract
Token type: ERC20
60% For Sale
22% iTrue Foundation
Follow our roadmap as we build our scalable solution with a brand new type of storage that leverages the power of both blockchain and database models, and is at full-capacity as per Turing completeness model.
Q2 — Q4 2017
Identification of competitors and market analysis
Q4 2017 — Q2 2018
Development of technical specifications, project architecture and a system of automated human face recognition
Q1 — Q2 2018
Development of Stone storage: Fast and scalable like DB, immutable and transparent like blockchain
Q2 — Q3 2018
Development of APIs to connect microservices with Stone storage
iTrue company registration in Hong Kong
GDPR took effect. iTrue architecture and its microservices are already designed in accordance with GDPR requirements
iTrue subsidiaries registration in India and Lebanon
Filing form D 506 exemption notice for submission to SEC, opening the token sale for US accredited investors
Development of mobile applications (iOS, Android) enabling the insertion of personal data to the blockchain network and face recognition for access to personal data
Q3 — Q4 2018
Expansion to the Arab Maghreb Union, India and the CIS. Launch of 20 pilot projects in banking, insurance, surveillance, ecommerce industries
Opening iTrue community for third party developers; Opening the platform for third party microservices developers so they can build own microservices to expand iTrue platform functionality and community
Q3 2018 — Q1 2019
Development of a payment system and an IDV system to verify citizens of India, Bangladesh, Russia, Lebanon and Qatar
Launch of the platform for Privacy Control and Data Sharing between Users and Clients. Users will be able to control their privacy and get tokens for its controlled data distribution to Clients
Development of 5 additional microservices to make personal life and business processes easier and safer, available for integration to the projects of iTrue platform third party developers
Launch the platform for third party developers of applications so they can use iTrue and third party developers microservices by building enterprise/consumer apps and getting tokens on selling apps to Business and Users
Launch of a fully-functional platform enabling Web 3.0 projects and DApps
Q1 — Q2 2019
Expansion to the countries of ASEAN. Launch of 50 pilot projects in banking, insurance, surveillance, ecommerce industries
Q2 — Q4 2019
Development of 20 additional micro services to solve day to day issues of Business and Users
Development of an IDV system to verify citizens of the China, Thailand and Indonesia
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ANN Thread: https://bitcointalk.org/index.php?topic=4721365