The first round of the pre-launch of the Ydentity™ ICO by Bright Nation Limited takes place today. The second round will be held in September, 2018, prior to the core offering in December 2018, the company says.
The Ydentity™ token is an identity constructed around a scientific assessment of the individual user’s risk habits. A series of 30 ‘yes/no’ questions presented to the user randomly from 300 questions allows the system to categorise each user into one of three risk profiles: risk averse; risk dependent; and risk seeking. The result provides an anonymous identity that allows the user to navigate the web without having to disclose their real identity.
Currently, the Ydentity™ could have many uses including, but not limited to the insurance, investment, dating, recruitment, gaming and social media industries.
As data ownership moves from corporations and their shareholders to the consumer, Ydentity™ offers a scientifically proven solution to the user’s identity based on cognitive neuroscience findings developed by Bright Nation’s Founder and Chairman, Dr Fred Jumelle.
On purchasing a token and receiving their Ydentity™, users are then invited to enjoy a 30-day free trial of limited features of the Ycommunity. On full sign-up to the Ycommunity ,the user gains full access to a decentralised peerto-peer organisation managed by its members. Membership allows users to decide which service providers they choose to disclose information to. Blockchain technology allows Bright Nation to guarantee that no company website can identify or track the user’s true identity until the point when the user chooses to proceed with approved service providers within the Ycommunity.
Members are expected to be compliant with the rules and ethics of the Ycommunity and are incentivised to introduce compliant companies and partners who are willing to accept the Ydentity™ token as a valid form of identification. As the Ycommunity grows in the number of users, partners and service offers so will the interest for the Ydentity™ scientific claims. The tokens are tradable and transferable until they become a unique Ydentity™ stored in a non-custodial wallet.
Ydentity™ integrates blockchain technology to create a risk-identity token that is located as a confluence of psychological testing and government identification and meets with defence-grade KYC and cybersecurity standards. It addresses the fact that a government ID does not contain built-in information that allows people to interact with others and also the fact that an estimated 1.1 billion people around the world, including many millions of children, women and refugees, lack any form of officially recognised identification. This prevents them from having access to education, healthcare, voting rights or opening a bank account, and puts them at a higher risk of human trafficking.
The purchase of Ydentity™ tokens can be used by companies for onboarding, risk underwriting and assessment, and by users for the authentication of products or services and compatibility and self-protection while surfing the Web. The structure of Ydentity™ also supports the UN Sustainable Development Goal Target 16.9, which aims to provide legal identity for all by 2030. The Ydentity™ app is available to test at: http://ydentity.org/app/ydentity.apk
Bright Nation is a Hong Kong company founded in 2012. It specialises in projects and project finance involving the use of exponential technologies such as blockchain, artificial intelligence, Internet of Things, big data, cloud computing and mobility. It primarily addresses the development of a generic meta-token platform for all business sectors and is dedicated to developing and marketing blockchain-based utility tokens.