Start Date: 31/05/2018 End Date: 30/11/2018 (Stage 1)
Token/Coin: PASS
Token Supply: 1,000,000,000 (40% Distributed to contributors-400,000,000)
Contribute with: Various (TBC)
Active Bounty: Yes
Base: Ethereum (ERC-20)
One of the most exciting projects we’ve covered to date, with a driven and public friendly team, innovative ideas and strong connections, Blockpass is, “A Self-Sovereign Identity Solution”. The Blockpass dapp “…allows users to establish (verify), store, and manage identities.” The idea is that the identities are stored in a decentralized manner and used for compliance purposes, without centralized storage of user personal data. This gives control to the access of personal data to the end user ONLY and how it works is pretty cool to say the least.
An excerpt from their whitepaper describes their application as;
“A self-sovereign identity application is a platform where users can establish, store, and manage identities whilst maintaining full control over all data involved. Data collected to establish a self-sovereign identity is not stored on any central server. Instead, the data is passed to the verifier (be it a machine or a human) to view only for so long as is required to create the identity. When the verification is completed, the data is sent back to the user’s own personal device.
Blockpass in its first release creates user-centric identities, integrating a KYC procedure that involves data deletion at each step of verification, and that allows data to only be stored on the user’s personal device. Blockpass identities can be authenticated because a hash version of the identity is stored on the blockchain, for comparison with the data stored on the user’s device.”
Now, along with the recent news on regulation within the cryptocurrency industry and the UK GDPR coming into effect. The questions you’d probably want to ask most is, ‘Is it compliant?’ and ‘Is it decentralized?’, to which the answer to both is a resounding YES!
The team over at Blockpass obviously did not just create this project yesterday and have committed years of research and work in IOT, blockchain projects, community focused projects and of course their idea of sovereign identity. They have partnered with a few big names in the cryptosphere including Coinfirm, Infinito Wallet and Edinburgh Napier University.
We caught up with Guy Davies-UK Business Development Manager @ Blockpass, and discussed everything from local community projects to the decentralized utopia that is IoE and Web 3.0. Guy, quickly brought us up to speed on the amount of focus and hard work that the team has put into making sure that the project meets needs on both sides of the regtech industry, working alongside authority standards, serving the people first and keeping transparency on every level, whilst giving the user control of their own identity and personal data.
From our view it seems, the current need for systems and applications which can tackle identity fraud, data manipulation, AML, KYC, regulation and compliance as an all-in-one solution, is one of the most coveted titles in the blockchain and crypto space right now.
With the ability to complete the above whilst also being fully GDPR compliant, we think Blockpass could be a real game changer.
Contribution methods are still to be confirmed, however Blockpass has announced that various methods will be available. This is due to the fact Blockpass tokens will be distributed via select merchants and approved distributors. The distribution is being split into three stages, progression of the distribution is dependent on the hard cap of each being met, as follows:
Stage 1-Initial Token Distribution Event: 31/05/18–30/11/18
• Hardcap: 250,000,000 PASS tokens
• Softcap: 60,000,000 PASS tokens
• Retail price per PASS: 0.08 Euro
• If hardcap is not met, tokens will be added to hardcap
in the second event.
Stage 2-Second Token Distribution Event: 31/05/19–30/11/19
• Hardcap: 100,000,000 PASS tokens
• Locked currently
Stage 3-Third Token Distribution Event: 31/05/20–30/11/20
• Hardcap: 50,000,000 PASS tokens
• Locked currently
Advisor Allocation:
50,000,000 PASS tokens (unlocked 31/05/19)
Founder Allocation:
200,000,000 PASS tokens (unlocked 31/05/21)
Further allocations of PASS tokens will also be made available via mining/bounty as follows:
Identity Mining:
180,000,000 PASS tokens
Blockpass approved merchants can reverify Blockpass approved
identities and Blockpass IDN will purchase the identity certificate
in exchange for PASS tokens.
Grants for Identity Startups and Research:
40,000,000 PASS tokens
Airdrops:
90,000,000 PASS tokens
Treasury and Market Making:
40,000,000 PASS tokens
After speaking with the team and attending their launch event, we are confident the distribution event should well, with just over 24 hours until the start of the sale, excited is an understatement.
