About ICO Pass ICO

Company is established by the team that previously developed Latvian State eID solution and e-signature. In a few years time it has established strong relationship with client's such as UBS, Credit Suisse and Swisscom. Now, with ICO Pass it is targeting Token Sale organizers and ICOs that need an easy to use KYC tool.

Features

  1. Process is automated and takes 7 minutes. No place for errors.
  2. Can add and remove multiple databases for identity verification.
  3. Transparent about what databases were checked and how accurate it is – how much of the population in a specific country it covers.
  4. Blockchain technology guarantees that once verified, it will stay the same. Other parties can rely on this and do not need to start the process over again.
  5. Information is encrypted and only the identifiable person can get access to it.
  6. Blockchain technology gives a higher security at a lower cost. ICO Pass also verifies Ethereum addresses that want to access KYC data.

Technical Info

  1. Persons download our app that will be available on February 21st. 
  2. Then provides details about themselves - name, last name and country of origin, e-mail address. We verify this information using several government and non-government databases. Also we check if the persons are not on any Sanction list or a PEP. Additionally we check if the person is not from countries where Token Sales are not allowed. 
  3. After that persons take a photo of their ID document. We verify if that it is not a forgery.
  4. After that persons are asked to take photo or video of themselves. We do face matching with ID document.
  5. After all checks are passed, person transfers a small amount of ETH to identity address displayed in app to link wallet to their identity. ETH sent will be refunded, except gas. 
  6. When transfer is complete, app offers to link wallet address to identity. This wallet must be used when participating in ICO. Multiple wallet addresses can be linked.
  7. After linking person can register for participation in ICO by selecting ICO name from a list or entering address manually. 
  8. User the is asked for approval to send personal information to selected ICO address. 
  9. After approval process is complete and app generates encrypted package of personal information, stores it in IPFS.
  10. Link to package is sent ICO organiser and encrypted package can only be opened with private key in ICO organiser’s posession.

ICO Pass ICO Roadmap

 

  • February, 2017

  • ICO launch. Product launch.
    Technically: validate that the owner of
    an Ethereum wallet has passed an ID
    background check stating that they are
    not part of a restricted set of users (e.g. US
    citizen or individuals on official watchlists).
    The background check is run via a third
    party, namely Onfido. The ICO Pass team
    has set up a smart contract system to
    record the outcome of the background
    check on the public Ethereum blockchain,
    i.e. whitelist Ethereum addresses that are
    owned by non-restricted users.
    Legal point of view: doublecheck with
    all the regulators in different countries
    how to even more effectively meet their
    requirements.
    Business: attract first ICOs from Europe.

  • Mar, 2018

  • New databases are added for higher
    accuracy.

  • April, 2018

  • Video identification with live agents added.

  • May, 2018

  • ICO organizer communication tool added
    for contacting ICO contributors.

  • March

  • New databases are added for higher accuracy.

  • June, 2018

  • Integration with US State Revenue
    Service or Banks to automatically
    determine if the investor is accredited.
    First US based ICO.

  • November, 2018

  • Integration finished with Banks who in
    EU are providing their APIs under PSD2
    regulation. Automatically determines if
    the person is accredited investor.

  • December, 2018

  • Interest payout functionality in app.

  • May

  • ICO organizer communication tool added for contacting ICO contributors.

  • June

  • Integration with US State Revenue Service or Banks to automatically determine if the investor is accredited. First US based ICO.

  • November

  • Integration finished with Banks who in EU are providing their APIs under PSD2 regulation. Automatically determines if the person is accredited investor.

  • December

  • Interest payout functionality in app.
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