iTrue ICO Project – Blockchain-based biometric solution for authentication.
About iTrue Platform
Instant Access to Controlled Gains with device-free iTrue technologies
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
Problem Area on iTrue’s Target
Given the increase in start-up companies offering online financial products and innovative digital services, there appears to be an increasing demand for secure, efficient authentication systems. However, biometric technologies do not provide a secure authentication assertion on their own. User data may be easily seized or misused because of inappropriate use. Users may be worried about how they use data from businesses for this reason; since printouts and online services can collect, use or sell personal data for their own profit.
As a matter of fact, 49% of those operating in the US are concerned about the seizure of biometric data, while 35% are uneasy about the bank’s access to this information. On the other hand, “face recognition” operations are legal in Russia and in neighboring countries within the scope of surveillance activities, but the safety of the system is also considered as a threat of great confidentiality, especially in danger. In Shanghai and Beijing in China, face recognition is not only used by state security and surveillance, but also by private companies. Example: Fintech provider ANT Financial uses biometric scanning even in public areas such as the subway.
The combination of blockchain and biometric technologies will enable businesses to develop biometrics authentication and eventually create and market their own applications in the iTrue platform and ecosystem. Reducing transaction disputes through biometric authentication will help improve the user experience and at the same time increase platform security.
With iTrue, users will have complete control over their confidential personal data, and biometric authentication can provide secure, uninterrupted access to digital assets and even physical facilities such as a car or home. With the Blockchain infrastructure, users and businesses will be assured that their records are on a secure infrastructure to protect against data theft or abuse.
iTrue Ecosystem Token
iTrue’s service-based platform enables applications to integrate authentication independently of passwords, gadgets and plastic cards. The platform will sell user data. More users, customers and developers will share and use the data on the platform.
Developers will be able to create applications that take advantage of micro-services, such as authentication. Users will be informed about each request for their data and will be rewarded with their iTrue tokens when they participate in data sharing activities.
By combining biometric identification and blocks, iTrue increases the confidentiality of any process that users create. iTrue Limited will develop an extraordinary platform for an innovative approach to how companies create decentralized practices. The iTrue solution will be implemented as a blocking service with the built-in biometric data verification system. The decentralized platform will support user authentication for developers and businesses, the creation of new chain networks and the ability to receive rewards for users after an honest data exchange.
Jack Cheng, CEO of iTrue, said that the number of new companies offering online enhanced services such as digital financial products has increased rapidly due to reliable systems and efficient authentication requests. iTrue’s main development team has created a comprehensive solution that addresses the gaps in how these companies use their customers’ data. Combining biometric, block and sophisticated database technologies, iTrue will enhance user authentication and privacy. In addition, developers will be able to create decentralized applications in a wide range of ecosystems directly.
iTrue technical expert Anton Goroshankin has stated that modern block products have discovered a way to solve the problems with the strategy of combining the database and the block chain. As a result, iTrue is a stable and scalable infrastructure that protects user data against misuse or data theft. Other important advantages of this ecosystem are:
- Providing Full Control of Private Personal Information
- User Data Tracking
- Non-Centralized Application Integrity Assessment of Company Privacy Controls.
The main purpose of the project is; to create a global ecosystem that enables companies, developers, users and customers to take advantage of data exchange efforts in a decentralized application market. With this platform, users can share data with other users, companies and data providers that need it. Each participant will receive an award with ITU tokens.
In order to ensure that each user has control over his or her own private data, iTrue will communicate to platform members how their data will be used and how they can be earned. In addition, the platform will comply with privacy rules, and the user will be notified of each data request so that they can approve the request.
The iTrue system will help developers to create solutions based on critical factors of users’ privacy, security and security. Thanks to its innovative identification capabilities, users will not have to worry about security when doing anything with crypto money. Developers will not only create a decentralized solution that removes the use of any fraudulent program, but will also ensure that your transactions are done quickly, efficiently and securely.
Token Sales Detail:
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
PreICO Price: 1 ITU = 0.006 USD
Price: 1 ITU = 0.01 USD
Minimum investment: 100 USD
Soft cap: 7,500,000 USD
Hard cap: 40,000,000 USD
Country: Hong Kong
Whitelist/KYC: KYC & Whitelist
Restricted areas: USA, China
For Individual Users
Privacy – Users have full ownership of their data, and have full control over where their data is shared
Confidence – 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
Automation – 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
Data Exchange – 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
Customized Applications – 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.
Tokenized Benefits – 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 Completeness – iTrue 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
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
July 2018 – iTrue company registration in Hong Kong
GDPR took effect. iTrue architecture and its microservices are already designed in accordance with GDPR requirements
August 2018 – 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
Q3 2018 – 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
Q4 2018 – 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
Q1 2019 – 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
Q2 2019 – 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
The iTrue team is composed of high-profile experts in different fields, whose joint work has led to development of the current solution. The team is truly multinational and features some of the most prominent experts in the finance, IT security, computer vision, and blockchain industries.
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For more information:
WEBSITE ; https://itrue.io/
TELEGRAM ; https://t.me/itrueio
MEDIUM ; https://medium.com/itrue
FACEBOOK ; https://www.facebook.com/iTrue.io/
TWITTER ; https://twitter.com/Itrueio
LINKEDIN ; https://www.linkedin.com/company/itrue/
REDDIT ; https://www.reddit.com/r/iTRUE/
LIGHTPAPER ; https://itrue.io/files/iTrueLightPaper.pdf
WHITEPAPER ; https://itrue.io/files/iTrueWhitePaper.pdf
ANN THREAD ; https://bitcointalk.org/index.php?topic=4721365