What Is Ydentity?
The Ydentity is the world’s first risk identify blockchain token that is based on cognitive neuroscience. The token is a tradable application program interface (API). It is designed to allow individuals to own data and enjoy freedom while surfing the web. The platform gives a predictive model for customer onboarding, risk underwriting, and KYC.
The token is designed to address the main elements of the general data protection regulation at a time of technological advancement when consumers have never been more aware of the value of their data. As data ownership moves from the companies to the consumers, the Ydentity token offers a solution that is scientifically proven. It is a solution for the user’s identity based on cognitive neuroscience findings developed by Bright National Founder Dr Fred Jumelle.
How Ydentity Token Risk Identity Blockchain Protection Works
The token is constructed around a scientific assessment of the user’s risk habits. The user is presented with a series of 30 yes or no questions from 300 questions. These questions are used to categorize the user into three risk profiles that include risk averse, risk dependent, and risk seeking. The result gives the user an anonymous identity that allows one to navigate the web without the need to disclose their identity. Once the user buys the tokens, they are given a free 30-day free trial that has limited features of the Ycommunity. Once the user subscribes to full membership, the user gets full access to a decentralized peer-to-peer organization that is member managed.
The membership status allows the user to decide on the service provider to disclose information to. Blockchain technology used ensures the user’s identity is kept private. The members are expected to comply with the rules and regulations of the platform and are incentivized to introduce firms that can accept the Ydentity token as a form of identification.
The growth of the Ycommunity encourages the growth of the value of the Ydentity token and the investment opportunities increase. The tokens are tradable and transferable until the owner activates them to become a unique Ydentity in a noncustodial wallet.
The underlying blockchain platform is token driven, smart contract regulated, and cryptographically protected. The token is a utility token that is in limited supply. The closed source token is unique, non-recyclable, and non-transferable creating a unique identity for each token holder. Ydentity comes up with a risk profile that can be used for authentication, self-protection, risk assessment, and compatibility. The profile token provides an underwriting instrument that can be used for investment, banking, and insurance markets. It also makes the KYC process easier.
Ydentity YDY Coin ICO Details
The Ydentity token is an ERC20 token that is compatible with third-party token wallets and exchanges. The token has a purchase mechanism under ETH and BTC. The ICO will be held in December 2018. Companies can use the token for risk underwriting, onboarding, risk assessment, for self-protection while surfing the web, and to authenticate products and services. The structure of the token also supports the United Nations Sustainable Development Goal target of the provision of legal identity to all by 2030.