August 21, 2017, Manchester, NH, USA
Today AuthenticID announced the launch of their Token Sale website and public availability of their white paper for their cryptocurrency token sale scheduled to start on September 15, 2017. The offering is part of AuthenticID’s vision to empower a new global economy with their secure Smart Identity platform that enables transactions both on and off the blockchain based upon identity trust and privacy.
The AuthenticID Smart Identity platform, enabled by their token, will provide options to both individuals and businesses who want, or need to authenticate the identity of a person, usually initially with a government ID. AuthenticID already offers solutions that are often faster and easier than ID/password authentication. As part of this token offering, it will now be extending these services to the blockchain community to enable both individuals and businesses to do things that are not easy, let alone automated, today.
While the blockchain provides for a decentralized trusted approach to all its transactions, its ability to interact with off chain systems, as well as real people or identities is limited in today’s iteration of the blockchain. The notion of identities of people, businesses, and machines is absent from the blockchain in any meaningful way beyond the private/public keys (which in that sense are not very different from traditional ID/password – only much more secure). There are many use cases that require additional authoritative information (e.g., an Oracle data source) or authenticated confirmation from a person that is party to a transaction.
Identities need to be validated all the time in many different ways and formats for all sorts of interactions. From facial recognition, to age, to credit history, driving history, even employment history there are many dimensions to an identity that go far beyond an ID and a password or a social security number. As privacy becomes increasingly important – there needs to be a way to meet the increasingly complex identity authentication use cases, while giving privacy control to individuals. That’s where AuthenticID comes in – to support the needs and requirements of both parties to the authentication process.
“AuthenticID’s Smart Identity platform is a flexible, expandable, and adaptive approach to managing the appropriate level of Identity Trust to meet the myriad of real-life use cases that will benefit from the efficiency that the blockchain represents to support virtually any on and/or off chain transaction,” said AuthenticID Chief Evangelist, Blair Cohen.
“Embracing the powerful attributes of blockchain technology will allow AuthenticID to remain a pioneer in the field of automated identity authentication for the next technology generation,” added Cohen.
The AuthenticID Token Sale website, and download availability of their white paper, is available at www.tokens.authenticid.co.
Founded in 2001, Manchester, NH-based AuthenticID is a leading provider of revolutionary software that enables automated real-time identity document authentication solutions based on proprietary worldwide forensic document databases. Its CatfishAIR family of authentication technologies now provides industry leading identity validation products incorporating proprietary “smart” mobile capture, multi-factor biometrics and data as well as its software-as-a-service document authentication platform, supporting 192 countries, and a variety of uses cases and industries.