iTRUE - Instant Access To Controlled Gains with Device-free iTrue Technologies
With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, iTrue, 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 has arrived.
Before I take you on this voyage, please check out this video presentation
Now that I have your attention, let’s get right to it.
What exactly is iTRUE?
iTrue is a Blockchain-as-a-Service arrangement with an inherent authentication framework with biometrics as its center microservice, empowering undertakings and designers to fabricate secure, adaptable and extensible applications. The iTrue token ecosystem system rewards clients for sharing their information, and organizations for taking an interest in the information and application commercial centers. Our creative stone stockpiling arrangement guarantees fast and limit without giving up security and protection.
The vision of iTrue for decentralized identity is still at an early stage. In collaboration with other vendors, iTrue is actively working on the following initiatives to provide a new wave of decentralized protocols and identity management solutions:
Biometric authentication-a system that recognizes the eye iris, hand veins, and facial functions with real-time detection when authenticating users to access large enterprise systems.
Stone Storage-a unique data storage function, in which personal information is stored separately from the transaction record and can be divided into different levels and stages. This allows users to determine which information should be shared with which party, thus fully controlling sensitive information, but still enjoying the simplicity and convenience of biometric authentication.
API integration-a new API for interaction between machines and people that does not require gadgets and can be used by the public, including commercial companies and new startups. The platform includes an authorized block chain with high speed of operations, certain levels of access to confidential information and the ability to build both geo-dependent and geo-independent services.
ID Verification (IDV) system that does not require data storage on personal devices. Simple KYC can be implemented through the platform iTrue. Users can go through the KYC procedure using their mobile phone, PC or an authorized partner terminal.
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.
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. The solution is designed for high speed and capacity — overcoming the limitations of current blockchain tech.
The Blockchian-driven Authentication Framework
The recent upheaval of biometric solutions as security measures has indicated a favourable environment for implementation. For authentication purposes, the iris pattern will be taken by a special camera alongside the hand veins pattern extraction. These methods have reasonably involved the attention of many companies who are especially concerned about data security.
As part of its solution, iTrue will provide companies with an access to the platform through the API. On top of this, developers will be able to create their microservices and decentralized applications.
The ITU Token Economy
The ITU token brings together personal and commercial 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.
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 platform itself does not sell user data. Rather, it enables users, clients, and developers to benefit from sharing and utilizing data on the platform.
The 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.
A developer can be one that builds microservices on the platform leveraging the iTrue identification and authentication microservice, or other microservices Or, a developer can be one that builds applications that are directly targeted at end- users (can either be other clients or individual users)
It has full access to all data relevant to itself, including previous actions, income, expenditures, links to the account and contacts. Users also get notified whenever a contractor inserts data about him into the iTrue platform Can manage access to his own data, e.g., allowing or disallowing client access to his information.
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.
The Benefits of iTrue goes thus:
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.
Token Sale and ICO Details
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. A user earns tokens being a part of dApps userbase, A user can render outsourced services, i.e. remote IT assistance to companies, individuals using features of a Remote IT assistance dApp with built-in face authentication. A user pay with tokens on iTrue dApps marketplace to buy dApps third-party developers.
Token - ITU
PreICO Price 1 ITU = 0.006 USD
Price 1 ITU = 0.01 USD
Bonus - Available
Platform - Ethereum
Accepting - ETH
Minimum investment - 100 USD
Soft cap - 7,500,000 USD
Hard cap - 40,000,000 USD
Country - Hong Kong
Whitelist/KYC - KYC & Whitelist
Restricted area - USA, China
60% For Sale
22% iTrue Foundation
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
Meet The Amazing Team
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
ANN Thread: https://bitcointalk.org/index.php?topic=4721365
Medium : https://medium.com/itrue
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
My Ethereum Address: 0x76CC93E01A6D810a1C11bBC1054C37CB395F14C8
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.