We have decided to reschedule our upcoming token sale to start October 31st, and our pre-sale on September 15th.
While initially we decided that we wanted to make sure that we are not impacted by the upcoming Metropolis Ethereum fork, last week an even bigger fork happened to the Blockchain ecosystem with China’s ban of all ICOs as we posted.
In our opinion the China ban is the real fork as it requires all ICOs to rethink their KYC strategies.
Our token sale is already structured to use our global leading identity authentication technology to properly KYC all of our token sale participants – so the China ban was only confirmation that we took the right path.
However, we have realized that our registration and authentication process is actually a process the entire industry needs, so we are going to be offering it as a service for all future token offerings. While there are other KYC processes currently being used that are more manual in nature, when it comes to speed (10 seconds) and machine learning automated processing as compared to slow (minutes to days) manual processes that are not as accurate as our computer processing, other processes are not in the same league as AuthenticID.
People talk extensively about Civic – we have had conversations with Civic and while we are believers in their model – the reality is that it takes time to build such an ecosystem. AuthenticID already has a global presence off chain, and with the affiliate marketing model described in our white paper, the AuthenticID offering can spread like wildfire – this year.
The big impact of our KYC process is that registration processes become simpler and faster making it easier for more interested prospective buyers to participate.
So we look forward to unveiling our token sale registration process as the new standard for the ICO industry. Stay tuned for that announcement.
While all that is exciting, we have also made significant enhancements to our offering, including an incentive program for rewarding our users and business customers to register fully authenticated Identities to our Smart Identity Wallet technology to accelerate our achievement of a critical mass of registered users.
Check out our tokens.authenticid.co website to download our updated white paper as well as view a prototype of our Smart Identity Wallet.
For pre-sale inquiries, contact us directly at firstname.lastname@example.org.