When Blockpass revealed a blueprint of its user-centric, self-sovereign Identity Portal and fully decentralized blockchain identity verification platform, many knew the journey had started. The Regtech platform, the Press Release stated, would be Ethereum blockchain-powered and reliably serve as a shared regulatory and compliance services platform. That was on Dec. 19, 2017, in Hong Kong.
A few months later, Blockpass decided to team up with Infinito Wallet, a universal cryptocurrency wallet. This self-sovereign identity application chose Infinito Wallet due to their mutual agreement that would include the release of the much-awaited PASS token, a cryptocurrency that the wallet would subsequently hold. Alongside that, their partnership is because of a shared vision of having a fully decentralized Regtech ecosystem.
Why Blockpass And Infinito Wallet Are A Perfect Match
The whole idea behind the creation of Blockpass is the need for a universal global identity, or rather what they call “Identity for a Connected World.” This application is there to grant every individual an absolute control of their data. Incredibly, it eliminates the tormenting and often unavoidable need for one’s KYC data before completing any financial transaction online.
Blockpass is for businesses too. Essentially, it is designed to work hand-in-hand with regulated industries plus the Internet of Things so that its shared KYC platform helps businesses. Business uses the information stored on the platform without pestering new customers all the time.
As for Infinito Wallet, being the globe’s pioneering cryptocurrency wallet for all top coins, including NEO NEP-5, ETH ERC-20 is quite incredible. Simply put, anyone with this wallet will be able to hold BTC, BCH, LTC, DASH and all the other tokens built on the popular smart contract blockchains.
Blockpass Token ICO Details
PASS, Blockpass’ token will be available through a crowdsale from the end of May 2018, and it will be the first Regtech coin to be issued on the Infinito Wallet. The essence of having PASS tokens is to access the services and is thereafter burned once one has redeemed them.
Reaction In The Industry
Crypto pundits see this partnership as a good thing in the industry. The two strategic partners will henceforth facilitate the seamless launch of many compliant tokens, both the real world tokens and security tokens. And it’s only by so doing that Blockpass’ “Identity for a Connected World” particularly in the decentralized ecosystems of DApps, devices, and IoT comes to pass.