Today AuthenticID announced that is delaying the start of its ATHAU token sale to November 28, 2017. Private pre-sale of the ATHAU tokens will commence immediately except in jurisdictions where such sale is forbidden by statute.
The rescheduling is to allow time for the company to file for and comply with an SEC exemption under Rule 506(c), which is a similar path that Filecoin took, the largest token offering to date, and which others are starting to follow.
Under Rule 506(c) all purchasers will be required to be accredited investors. Pre-sale purchasers will be required to sign a pre-sale agreement and cooperate with standard KYC and investor accreditation validation.
Jeff Jani, the company’s Chief Operating Officer, said “Our ATHAU token has always been designed to be a discount coupon for our services which can be redeemed or resold upon complying with SEC rules. Taking the conservative approach to file in the US for an exemption under SEC Regulations will make our ATHAU token sale stronger and safer for purchasers by reducing the risk of regulatory issues. Our business is protecting some of the biggest brands on the planet from regulatory risks and fraudsters. Thus, we feel we need to set the compliance bar higher to protect our current and future stakeholders.”
The AuthenticID token sale supports the company’s “Smart Identity Platform” to give an array of options to people and businesses who have requirements to authenticate the identity of a person, usually initially with a government ID.
Today, AuthenticID provides the fastest, easiest, and most reliable way to verify real-world identities across the Internet with automated identity and trust verification. We call this the “first mile” of identity authentication that every KYC process, biometric service, or blockchain application requires.
What is the “First Mile”?
“First Mile” authentication refers to the process of confirming a person is who they say they are, using a government issued ID and a selfie and some complex machine learning software. Banks and healthcare organizations have been manually doing First Mile authentication for years. Now everyone can do it anywhere they are on a mobile device, in as little as ten seconds based upon AuthenticID’s core technology that it has been selling to large global enterprises for years.
For more information on the AuthenticID blockchain token sale, go to 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 documents from 192 countries, and a variety of uses cases and industries.