This week’s visitor on the Cardano NFT Column is a undertaking that’s serving to NFT tasks with its DID (Decentralized Identification) answer: IAMX.
The earlier visitor was a undertaking launching a Play And Earn (P&E) cellular sport on each Cardano and Solana.
This initiative is a degree of reference for NFTs on Cardano and each week or two we are going to invite somebody to reply some questions and provides us an replace straight from inside the Cardano group.
Contemplating that a lot of our readers are new to the crypto house, we may have a combine of straightforward and technical questions.
Cardano NFT undertaking: IAMX
Cardano undertaking IAMX helps NFT tasks with decentralized identities
Hey, glad to have you ever right here. Please introduce your group, the place are you from, what are your backgrounds?
Thanks for having us! So when it comes to our group our two Co-founders Tim Heidfeld and Tim Brueckmann have an extended expertise inside Telecommunications and Affiliate Advertising in Germany the place they’ve helped construct up and exited a number of firms.
In whole we’re 25 folks on the group, greater than half of whom are a part of the event group and that is additionally the place our present ongoing recruitment efforts lie. We’re additionally fortunate to rely amongst us a number of extremely skilled professionals on the enterprise growth and advertising and marketing aspect, corresponding to our Thomas Tallis, Nicholas Collinson, Andre Eilertsen, Andrew Forson and Lise Wessel who all, not solely have a confirmed observe document inside the blockchain sphere, however who brings with them additionally an worldwide enterprise acumen wanted to develop and ship our companies world-wide.
Main our growth group is our extremely skilled CTO Dennis Mittmann who has been in blockchain since 2012. He’s additionally an knowledgeable in excessive visitors environments which is crucial for the huge scaling we’re planning. Markus Sabadello guides our efforts so we’re all the time aligned with the most effective analysis. Markus is taken into account one of many world’s most famed SSI and DID specialists serving in addition to a number one researcher on W3C (The World Extensive Net Consortium).
What’s IAMX and why have you ever chosen the Cardano blockchain in your undertaking?
IAMX is a token-based decentralised Identification and authentication protocol that empowers people with the means to personal their id. Adhering to the strictest of regulatory requirements for id safety, we offer a sturdy and safe system the place people are capable of take management and handle their id.
Customers of IAMX will realise vital time and value financial savings by way of novel approaches to id administration and ecommerce transactions, like 1-click fulfilment, that are legally binding and preserve native regulatory compliance. With customers answerable for their id knowledge, time-consuming processes like Type-Filling, Know Your Buyer (KYC) or Know Your Enterprise (KYB) develop into close to on the spot, extremely safe transactions.
IAMX”s mission is to empower customers in terms of their id
We construct upon the foundations of Self-Sovereign Identification (SSI), blockchain, and DIDs, enabling people, organisations, or any entity to show their id unbiased of exterior events or centralised authorities. This manner, the authenticity of something tied to an IAMX DID may be independently confirmed by the entity holding the DID. Our DID-method did:iamx was accepted by the W3C in March 2022 and is absolutely GDPR and privateness compliant.
On high of all of the time-saving and privateness advantages, the customers of IAMX will likely be incentivized to make use of their id benefitting from upgrades, reductions or cashbacks each time they use their IAMX Identification in a web based transaction. The companies utilizing IAMX will even have vital upsides when it comes to all the things from vital value financial savings in contrast with at present’s options to a rise in conversion charges because of IAMX simplifying buyer onboarding. Different enterprise companions, corresponding to Telecommunication firms or different organisations which might be required to hold out buyer KYCs, will likely be performing as verifiers of knowledge and as such will be capable to profit from life-time-revenues as they are going to be awarded a part of the internet affiliate marketing charges generated within the IAMX Market.
We determined to launch on Cardano as a result of we had a pure affinity to this blockchain as our group architect Tim Brueckmann was already working a stake pool. The extra sustainable proof-of-stake that Cardano presents in addition to the wonderful Cardano Group have been additionally deciding elements. Nevertheless, IAMX’s answer is chain agnostic and we will already resolve on 50 ledgers and register on 8.
Inform us about your NFT Identification Verification answer and the way that works? How does KYC match into this?
So in terms of NFTs, platforms like marketplaces manually assess NFT tasks on a case-by-case foundation for verification, which isn’t solely time-consuming but additionally not scalable, as cross-platform verification has not been possible for a lot of as a result of it calls for an excessive amount of work. This requires NFT undertaking creators to undergo comparable rounds on totally different platforms, typically leaving them annoyed. That is the place DIDs are available in. With a DID, undertaking creators can show their id in a decentralized means, without having to fill out private info each time after which watch for guide verification.
So the best way it really works is that once you need to confirm your id and tie it to your NFT undertaking(s) you create a DID by efficiently logging in to varied social media corresponding to Twitter, Discord, GitHub, Fb, Apple, Google and so forth. Have a look right here for extra info.
This DID is then added to your NFT-collection and future patrons can see that the NFT they’re shopping for is verified. They will go right here and discover all the mandatory info within the DID. So for instance if the NFT creator is Snoop Dogg and the DID proves that the stated NFT Creator has efficiently logged into Snoop Dogg’s Twitter account this enables for a particularly excessive chance of the NFT being genuine.
IAMX’s imaginative and prescient is said to the human proper to have an id
In terms of the KYC side this has but to be applied into the vNFT but it surely’s coming. The KYC knowledge will likely be saved within the Identification Pockets of the NFT Creator and the DID will present that the NFT Creator has carried out a KYC, however the precise KYC knowledge won’t be saved within the NFT. The purpose of getting the KYC being a part of it’s so that once more it offers the additional reassurance that the NFT Creator is who they are saying they’re and helps avoiding scams.
What does the longer term maintain? The place do you see IAMX in 1, 5 and 10 years respectively?
We see ourselves on the forefront of the Web3 revolution, bringing the world’s most safe, decentralized, and user-friendly Self-Sovereign Identification (SSI) answer to the Web.
Inside the subsequent 12 months the IAMX Identification Pockets will likely be launched and so will our iOS & Android Market app. We may have already partnered with greater than 50.000 firms.
Inside 5 years IAMX would be the world main supplier of Identification options for Web3, connecting your IAMX Identification pockets will likely be as pure to the method of coming into the web as opening a URL is at present. We’d in impact have added the layer of id and authentication to the Web, with IAMX in 5 years it is possible for you to to deal with the Web like you’re all the time logged in.
Pursuant to our mission and imaginative and prescient, IAMX is working to unravel the issue of offering an id to the billions of people that don’t at present have a state-recognised, authorized id. In 10 years we envision having made vital inroads when it comes to creating identities for the greater than 1 Billion folks on this planet that at present reside with out having an id. Our dream can be to have decreased this quantity by greater than 80% within the subsequent 10 years. We predict we will make it occur!
Nice contribution. Any closing ideas? The place can folks get in contact?
Thanks! In terms of closing ideas we consider the period of your id serving because the product, managed and capitalised by corporates is coming to an finish. It’s time so that you can take possession of your id.
We hope you’ll be part of us on this journey and we will simply be reached each on Discord and Telegram. You’ll be able to even drop us a line on [email protected] and we might additionally find it irresistible in case you dropped by our Identification Lounge on Twitter which is each Tuesday at 7 PM CET/1PM EST. All hyperlinks may be discovered right here.
Disclaimer: The opinions and views of the folks interviewed are their very own and don’t essentially mirror these of the Cardano Basis or IOG. Furthermore, this content material is for academic functions, it doesn’t represent monetary recommendation.