The SingleSource Project

In this blog post, we provide an in-depth look at SingleSource and our upcoming main token sale beginning on October 18, 2018.

Here’s everything you should know about SingleSource’s blockchain technology, use cases, team members, partners, CERTI tokens, and more.

Why Launch SingleSource?

SingleSource aims to reduce fraud, an epidemic that plagues both individuals and organisations across the world. How severe is this issue? According to the 2016 Report to the Nations on Occupational Fraud, fraud accounts for a 5% loss in revenue each year for organisations. For individuals, fraud-related issues like identity theft can be detrimental to one’s ability to access basic services.

Traditional fraud prevention services are flawed for a number of reasons. This problem has only continued to worsen throughout the last several years. This is due to the fact that traditional standalone services such as identity verification and credit scores are insufficient to combat fraud as the information can be easily falsified or manipulated.

Additionally, fraud lists and transactional data are fragmented across multiple organisations, preventing an individual’s risk from being assessed in its entirety. As a result, fraud detection and mitigation efforts have been rather ineffective despite past advances in fraud prevention technologies. These systems require users to trust that an organisation will protect their data privacy. Traditional services also lack interoperability, are highly complex, and remain costly to operate.

Our Project Vision: What Is SingleSource?

SingleSource utilises blockchain technology to create a better system for fraud detection and prevention. In essence, we have begun to establish a solution that is smart, connected, universal, and transparent. Our technology empowers individuals to have control over their own data, and organisations to get a more holistic view of consumers in order to improve risk assessment.

SingleSource is neither a financial institution nor a credit agency. It is a decentralised identity and risk scoring protocol that gives the end user control over the use of their risk score data, and enables organisations to contribute data securely to make better decisions when providing services to customers. In turn, we are making it possible to eliminate fraud on a global scale and reward good customer behaviour.

Key Technical Features

• Shared Industry Data

Participating service organisations contribute data such as insurance claims history, payment defaults, fraud blacklists, rental/homeowner property, etc., via an API on the SingleSource protocol. We will screen potential participants in order to ensure that data provided is reliable.

• Fraud Intelligence Engine (FIE)

FIE utilises advanced graph technology and fraud profile algorithms to connect various data points in real-time, to enable a holistic assessment of a customer’s fraud risk. Input from actual intelligence analysts is used to train machine learning algorithms, ensuring that data models evolve and improve over time.

• SingleSource Risk Score

Using profile results from the SingleSource Fraud Intelligence Engine (FIE), we are able to generate a real-time risk score at the time of any service request. Scores are dynamic and evolve based on the input data from external sources. SingleSource Risk Score allows organisations to better assess risk of individuals. For individuals, SingleSource Risk Score enables tailored access to a range of services.

Major Accomplishments

We realise that there are many examples of blockchain projects that attempt to raise capital without first achieving substantial accomplishments. This is not the case with SingleSource. We have already begun to establish SingleSource as a top project and have been working diligently on our product development since 2017. Here are just a few examples of what we have achieved so far.

• In 2017, the underlying technology and concept of SingleSource proved to be successful in industry pilot studies utilising Propello’s platform. For example, this model led to the reduction of travel insurance claims by up to 15% from fraudulent claims being made by customers or service providers, non-disclosure. With this successful test, we began to create a decentralised global risk scoring model on the blockchain.
• SingleSource’s KYC and Crypto-AML products went live in January 2018. As of mid-September 2018, we have already screened USD 350 million of investments across six major ICOs and helped simplify the KYC onboarding process.
• SingleSource became the world’s first blockchain company to be endorsed by a government agency (New Zealand Department of Affairs) to be able to verify identity documents.
• Our project was a top 80 finalist (out of 700+ international companies) in the Singapore government-sponsored Hackcelerator Programme.

Driving User Adoption and Use Cases

The SingleSource team is not only building a protocol that improves the underlying technologies of fraud prevention and identity management. We are also continuously working on specific, real-world use cases. In order to drive adoption of CERTI tokens (SingleSource’s native currency), we are building a number of markets that will drive real-world user adoption of our protocol.

For example, SingleSource is already capable of offering an automated solution for ID-as-a-service, KYC compliance, and Crypto-AML compliance. We also have plans for a number of future use cases within our ecosystem. These include but are not limited to credit scoring, micro insurance, micro financing, and P2P lending.

Meet The Team

Our team consists of a total of 14 people. This includes 11 core team members and 3 advisors. Our developers are mainly full-time employees with a small number of outsourced resources.

SingleSource team members have experience working for a number of high-profile enterprises, startups, and government organisations. Some of the companies that our team members have worked at include PwC, Deloitte, Fidelity Life, Vista Group, and many more. More detailed information about our team can be found starting on page 27 in our whitepaper or on our website.

Partners

Token Sale Details

In February 2018, SingleSource successfully raised USD 5 million in a pre-sale.

Our main token sale start date is October 18, 2018 at 10am NZT. We plan to sell a total

of 650,000,000 CERTI tokens in order to reach our hard cap goal of USD 25 million.

Funds will be used to build and promote the SingleSource protocol, a decentralised identity and risk scoring protocol. CERTI serves as our platform’s native currency. It is an ERC20 utility token that can be earned and redeemed for services rendered within the CERTI ecosystem.

Click here if you’re interested in registering for the token generation event. You also have the ability to get whitelisted (powered by SingleSource) before the main token sale begins.

The SingleSource (CERTI) Token Sale and Beyond

Additional information about our project, including the product roadmap, token distribution, and FAQs can be found here.

Want to know more about how SingleSource works? Download the full whitepaper here.

Originally published at www.mysinglesource.io.