This week’s visitor on the Cardano NFT Column is a undertaking that’s serving to NFT tasks with its DID (Decentralized Id) answer: IAMX.
The previous guest was a undertaking launching a Play And Earn (P&E) cell recreation on each Cardano and Solana.
This initiative is some extent 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 instantly from inside the Cardano group.
Contemplating that lots of our readers are new to the crypto house, we may have a combine of easy and technical questions.
Cardano NFT undertaking: IAMX
Hey, glad to have you ever right here. Please introduce your workforce, the place are you from, what are your backgrounds?
Thanks for having us! So by way of our workforce our two Co-founders Tim Heidfeld and Tim Brueckmann have an extended expertise inside Telecommunications and Affiliate Advertising and marketing in Germany the place they’ve helped construct up and exited a number of firms.
In complete we’re 25 individuals on the workforce, greater than half of whom are a part of the event workforce and that is additionally the place our present ongoing recruitment efforts lie. We’re additionally fortunate to depend 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 monitor file inside the blockchain sphere, however who brings with them additionally an worldwide enterprise acumen wanted to develop and ship our providers world-wide.
Main our growth workforce is our extremely skilled CTO Dennis Mittmann who has been in blockchain since 2012. He’s additionally an professional in excessive visitors environments which is crucial for the large scaling we’re planning. Markus Sabadello guides our efforts so we’re at all times aligned with one of the best analysis. Markus is taken into account one of many world’s most famous SSI and DID consultants serving in addition to a number one researcher on W3C (The World Extensive Internet Consortium).
What’s IAMX and why have you ever chosen the Cardano blockchain on your undertaking?
IAMX is a token-based decentralised Id and authentication protocol that empowers people with the means to personal their identification. Adhering to the strictest of regulatory requirements for identification safety, we offer a strong and safe system the place people are in a position to take management and handle their identification.
Customers of IAMX will realise important time and value financial savings by novel approaches to identification administration and ecommerce transactions, like 1-click fulfilment, that are legally binding and keep native regulatory compliance. With customers in command of their identification information, time-consuming processes like Type-Filling, Know Your Buyer (KYC) or Know Your Enterprise (KYB) turn out to be close to on the spot, extremely safe transactions.
We construct upon the foundations of Self-Sovereign Identity (SSI), blockchain, and DIDs, enabling people, organisations, or any entity to show their identification impartial 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 permitted by the W3C in March 2022 and is absolutely GDPR and privateness compliant.
On prime of all of the time-saving and privateness advantages, the customers of IAMX can be incentivized to make use of their identification benefitting from upgrades, reductions or cashbacks each time they use their IAMX Id in an internet transaction. The companies utilizing IAMX can even have important upsides by way of every thing from important price financial savings in contrast with right this moment’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 can be required to hold out buyer KYCs, can be appearing as verifiers of information and as such will be capable of profit from life-time-revenues as they are going to be awarded a part of the online 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 workforce architect Tim Brueckmann was already operating a stake pool. The extra sustainable proof-of-stake that Cardano affords in addition to the superb Cardano Neighborhood have been additionally deciding elements. Nevertheless, IAMX’s answer is chain agnostic and we are able to already resolve on 50 ledgers and register on 8.
Inform us about your NFT Id Verification answer and the way that works? How does KYC match into this?
So in relation to NFTs, platforms like marketplaces manually assess NFT tasks on a case-by-case foundation for verification, which isn’t solely time-consuming but in addition 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 completely different platforms, typically leaving them pissed off. That is the place DIDs are available. With a DID, undertaking creators can show their identification in a decentralized approach, while not having to fill out private data each time after which look ahead to handbook verification.
So the best way it really works is that if you wish to confirm your identification 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 on. Have a look here for more information.
This DID is then added to your NFT-collection and future patrons can see that the NFT they’re shopping for is verified. They can go here and discover all the required data within the DID. So for instance if the NFT creator is Snoop Dogg and the DID proves that the mentioned NFT Creator has efficiently logged into Snoop Dogg’s Twitter account this permits for an especially excessive likelihood of the NFT being genuine.
On the subject of the KYC facet this has but to be carried out into the vNFT but it surely’s coming. The KYC information can be saved within the Id Pockets of the NFT Creator and the DID will present that the NFT Creator has carried out a KYC, however the precise KYC information won’t be saved within the NFT. The purpose of getting the KYC being a part of it’s so that once more it provides 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 Id (SSI) answer to the Web.
Throughout the subsequent 12 months the IAMX Id Pockets can 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 Id options for Web3, connecting your IAMX Id pockets can be as pure to the method of coming into the web as opening a URL is presently. We’d in impact have added the layer of identification and authentication to the Web, with IAMX in 5 years it is possible for you to to deal with the Web like you might be at all times logged in.
Pursuant to our mission and imaginative and prescient, IAMX is working to unravel the issue of offering an identification to the billions of people that don’t presently have a state-recognised, authorized identification. In 10 years we envision having made important inroads by way of creating identities for the greater than 1 Billion individuals on the planet that presently reside with out having an identification. Our dream could be to have decreased this quantity by greater than 80% within the subsequent 10 years. We predict we are able to make it occur!
Nice contribution. Any closing ideas? The place can individuals get in contact?
Thanks! On the subject of closing ideas we consider the period of your identification 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 identification.
We hope you’ll be part of us on this journey and we are able to simply be reached each on Discord and Telegram. You possibly can even drop us a line on [email protected] and we’d additionally adore it if you happen to dropped by our Id Lounge on Twitter which is each Tuesday at 7 PM CET/1PM EST. All hyperlinks can be found here.
Disclaimer: The opinions and views of the individuals interviewed are their very own and don’t essentially replicate these of the Cardano Basis or IOG. Furthermore, this content material is for academic functions, it doesn’t represent monetary recommendation.