ID Chain Launched the COINEGG Platform on March 6
Promoting a blockchain-based digital ID authentication that will compete with industry leaders
ID Chain, a prestigious leader in blockchain and digital ID authentication, made its debut on the COINEGG platform at 3 pm U.S. Pacific Time on March 6, 2018.
The consensus mechanism for the public chain is BTF (ByzantineFault Tolerance) Proof-of-Work, while, the private chain is where the complete account book is stored on each node.
Identity authentication is a trillion-dollar market with huge potential
In terms of technology development, market demand and infrastructure capacity, credit reporting in the financial sector and data-based precision marketing dominate the market. The ongoing development of the Internet of Things (IoT) and artificial intelligence (AI) is creating the need for a high level of device-to-device authentications, in anticipation of the number of connected devices worldwide quickly reaching 50 billion. Globally, 1.1 billion people still lack an official proof of identity.
Industry leaders promote the use of blockchain technology to solve authentication issues
Tech giant Microsoft, SUN, blockchain alliance Hyperledger, world-renowned relief and development organization Mercy Corps and the United Nations International Computing Centre have joined the ID2020 Alliance, a blockchain-based digital identity initiative. Microsoft, Accenture and the Rockefeller Foundation, among others, have made donations to the initiative, in a move to build an ecosystem of partners committed to working across national and institutional borders to address the identity authentication of refugees and others who are disadvantaged.
ID Chain’s mission is to address the global authentication issue
ID Chain leverages blockchain technology as the basic vehicle for addressing the unresolved authentication issues dating back to the advent of the Internet and that have become urgent issues that need to be addressed in the upcoming IoT and AI eras. ID Chain proposes utilizing blockchain technology to provide efficient, low-cost and reliable solutions for human to human, human to object and object to object verifications regarding identity, credit and other data. The aim is to provide a rapid and highly reliable authentication platform and tool for the whole of society, creating an efficient authentication platform that collectively manages the global network of block nodes.
In the future blockchain world, blockchain applications that are directly accessible by the user will be of high value. ID Chain, in effect a credit community possessing the authentication data for hundreds of millions of users, will create high value when its public chain ecology can serve as the point of entry for the user.
Furthermore, ID Chain was conceived as the basis for a national blockchain-based identity authentication system, with the Philippines serving as a model, whereby medical insurance, social insurance, credit histories, online application authentications and other government functions would all be stored on and be accessible via the blockchain.
ID Chain’s architecture is a combination of both public chain and private chain
The consensus mechanism for the public chain is BTF (ByzantineFault Tolerance) Proof-of-Work, while, the private chain is where the complete account book is stored on each node.
ID Chain’s activities in the near term:
On March 14 and 15, ID Chain will attend the 2018TOKENSKY Blockchain Conference in Seoul, South Korea, to discuss issues concerning authentication and share information on its projects with leaders from a wide range of industries who are attending the event. The official website of the conference is www.TOKENSKY.net.
On March 15 and 16, the firm will attend Token Fest in San Francisco (Booth: #18), to meet with and exchange ideas with over 1,000 investors and regulators. The official website of the event is https://tokenfest.io/.
On March 30 and 31, ID Chain will attend CSDN2018 China Blockchain Technology & Application Conference, to meet technological experts in the blockchain industry with the intent of signing several partnership agreements. The official website of the conference is https://www.csdn.net.
The official website of ID Chain: www.idchain.live
The official customer service WeChat account: IDChainFoundation
WeChat Official Account: ID_Chain
Telegram: idchain
Twitter: idchainid
This is a paid press release. BTCManager does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. BTCManager is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
