IAMX Roadmap 2023
Our Latest Updates on Innovation, Software, Business, and Hardware.
Breakthroughs in 2022
At IAMX, we are proud of our accomplishments in 2022 which turned out to be the year of Non-Fungible Tokens. By achieving an innovative breakthrough with the development of our vNFT solution (Verified NFT CIP-0066) — implemented in the NFT Art project teddytroops.io on the 5th of March for the first time — this step marked the beginning of our first compliance solution with anonymous KYC integration. To date, 496 vNFT DIDs (decentralised identifiers) have been minted.
Our most significant milestone of 2022 though was the birth of an exciting strategic partnership with KYC Spider AG which provides IAMX with an invaluable toolbox of RegTech solutions. Our collaboration is continually strengthening, while we focus on innovation and technological developments including blockchain applications amongst others.
Our Collaboration Partner KYC Spider AG
KYC SPIDER is a leading provider of digital Know Your Customer (KYC) solutions, servicing banks, financial institutions, and businesses worldwide. Founded in 2003 as a Joint Venture between the renowned legal and compliance advisor MME AG and Eurospider, a spin-off company of the Swiss Federal Institute of Technology (ETH) Zurich, the company’s mission is to help organisations comply with rigorous KYC requirements while reducing the burden of manual processes.
KYC SPIDER focuses on optimising compliance processes; their software solutions are designed to facilitate automated KYC checks, onboarding processes, and timely risk management. Their software is designed to help financial institutions and companies save time and money by reducing labour time required for KYC processes, such as eliminating manual data entry, and the need for other repetitive activities and paperwork.
The flagship product, KYC Spider Toolbox, is a Software as a Service solution that automates the entire KYC process. The company also provides a single platform for KYC data, enabling easy access and sharing functionalities. This solution is secure, reliable, and highly customisable, and can be easily integrated into existing corporate systems. It has an intuitive user interface, making it simple for users to navigate and quickly access information. Further, the company offers additional services, such as KYC training, consultancy, and support.
KYC Spider’s services provide financial institutions and other businesses with solutions to comply with local Know Your Customer (KYC) regulations while meeting compliance requirements. Their teams comprise seasoned professionals who are dedicated to helping businesses meet their Know Your Customer goals, and take great pride in delivering excellent customer service.
Most recently, KYC Spider, in collaboration with their partner IAMX, launched a Web3 solution where KYC Spider acts as a compliance oracle, issuing and storing identification and KYC data.
MME AG, a Swiss law firm, is another important compliance advisor. They specialise in providing legal and tax advice to digital and blockchain-based businesses. In order to ensure the highest quality of their service provisions, KYC Spider has partnered with MME AG.
KYC Spider is currently monitoring 204 countries and 1017 PEP, sanctions, and crime lists. To date, over 27.4 million KYC records have been created.
Milestones for 2023
At IAMX, our primary objective for 2023 is to bring the reusable KYC/KYB (rKYC/ rKYB for businesses) solution online for integration with our partners' systems. Based upon the research principles of Self-Sovereign Identity, this technology will revolutionise the KYC world by returning data sovereignty to the individual user. Our reusable KYC/KYB compliance solutions have been built for user-friendliness and meet the highest data protection requirements. We anticipate going live by the end of March 2023.
Once the product has undergone stress testing and been validated, we will concentrate our efforts on deploying this solution to both traditional and blockchain businesses.
Innovations:
We are working relentlessly to finalise the developments of our iOS and Android Apps for public release in the second half of 2023, while our one-click-fulfilment biometric solution is fully developed and a person’s biometric data can now be entered at our IAMX identity terminals (for more details see below under ‘Hardware’), enabling record-storing users’ biometrics.
IAMX is currently undergoing a rigorous due-diligence phase of e-government data protection checks. Multiple government certificates have been applied for and approval is in progress. This will enable us to generate legally binding ‘execution of declaration’ agreements between citizens and the state. So to speak, IAMX will be fully authorised by the e-government to conduct data checks, such as data protection audits.
Software:
After successfully integrating IAMX DIDs on a number of blockchains in 2022, we are enhancing our efforts to enable additional DID method integration on multiple blockchains, such as Ethereum, Solana, Polygon, and others in the near future. IAMX stands firmly behind its commitment to ensure secure, seamless cross-chain transactions, interoperability and to be fully chain-agnostic. Today IAMX can resolve DIDs on 50 ledgers and write on 10 ledgers.
Furthermore, we’re enhancing our biometric library for both iOS and Android, so users will soon be able to unlock and store all their data with just a single tap. Our plug-in allows holders/users to authenticate all their activities quickly and securely with facial feature recognition. You can now enjoy the convenience of having everything stored in one secure place, by simply opening your app and using your biometric data.
Our goal is to incorporate a wide range of third-party wallets, giving preference to multi-chain wallets in order to remain consistent with our commitment to being chain-agnostic and reach the highest degree of interoperability.
Business:
Our one-stop compliance technology is undergoing stringent regulatory reviews to ensure seamless functionality, in particular for our white-label solutions, enabling customers to integrate IAMX technology into their corporate identity systems without interruption.
We are thrilled to announce that in 2023 we will be introducing IAMX Marketplace, a platform for issuers, holders, and verifiers. This will provide the infrastructure for decentralised digital identity verification and bring real-world use cases to life, aiming to open the doors to mass adoption. This will incorporate our collaboration partner and loyalty portal mycashback.com
Good news for IAMX early adopters and initial investors!
Our upcoming exchange marketplace provides an opportunity for IAMX partners and investors to trade IAMX tokens directly and on a simple supply-and-demand basis. Early adopters and investors have the option to take profits by selling their tokens to new investors before token listing on CEXs, while IAMX Telecom partners are expected to onboard in the second half of 2023, likely in the later months of the year. The IAMX team thus follows the market demand for compliance tools based on SSI architecture.
Hardware:
Our identity terminals are now being upgraded with biometric cameras and scanners to the highest of standards, equivalent to border and airport identification technology. They read IDs, and passports, identify your retina, and biometric face shape, and verify that you are the person whose name is on the passport as well as fingerprint scans including life detection.
We are launching the first terminals in Africa for a major global Asset Manager whose foundation is focused on solving humanitarian problems in that region. The initial terminals are scheduled for release during the latter part of 2023.
Warm regards,
Your IAMX Team
About IAMX
IAMX is a token-based SSI and authentication protocol that empowers individuals with the means to own their identity. Adhering to the strictest regulatory standards for identity protection, IAMX builds on the foundational principles of SSI to provide a robust and secure system where individuals can take control and manage their identity. Users of IAMX will realize significant time and cost savings through novel approaches to identity management and e-commerce transactions, like 1-click fulfillment, which are legally binding and maintain local regulatory compliance. With users controlling their identity data, time-consuming processes like KYC and KYB become near-instant, highly secure transactions.
IAMX builds upon the foundations of SSI, blockchain, and decentralized identifiers (DIDs), enabling individuals, organizations, or any entity to prove their identity independent of external parties or centralized authorities. This way, the authenticity of anything tied to an IAMX DID can be independently confirmed by the entity holding the DID.
IAMX is at the forefront of the Web3 revolution, bringing the world’s most secure, decentralized, and user-friendly SSI solution to the Internet. Adding the layer of identity and authentication to the Internet, with IAMX you can treat the Internet like you are always logged in. Pursuant to its mission and vision, IAMX is working to solve the problem of providing an identity to the billions of people who do not currently have a state-recognised, legal identity. Using a Biometric Identity Gateway, users with or without state-level identification can create their own identity for use online, one that relies on their unique physical attributes, including their face, iris, and fingerprints.
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