Kriptan Network for an improved global identity verification
Interview

Kriptan Network for an improved global identity verification

By Amelia Tomasicchio - 4 Jul 2018

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Kriptan Network is an interesting new token sale we met during the ICO Race event held in Lugano and organized by Eidoo.

Kriptan Network for an improved global identity verification: Leggi qui l’articolo in Italiano

During this competition, Kriptan has made itself noticed and has arrived among the 20 finalists.

Here you can read our interview with the CEO and Founder of the Kriptan Network, Mr Rob Leslie.

What’s your ICO about?

The Kriptan Network is a global identity verification network. It enables real-time identity verification by trusted identity providers (governments, banks, telcos, utilities), ensuring that businesses can react quickly to new information. At the same time, it is designed to provide the highest possible levels of privacy. Data is never exchanged or copied. Instead, it is always verified using an advanced form of cryptography, known as zero-knowledge proofs (ZKPs). We believe that the digital asset economy requires a new foundation for public trust and that only public blockchains can engender that trust. Our ground-breaking privacy technology underpins this new trust model, by guaranteeing that no personally identifiable information or private business data is ever recorded on the blockchain. However, it is also clear that total anonymity is not the way forward. We accept that there are legitimate reasons to allow financial regulators, tax officials and law enforcement agencies to audit the financial ecosystem and that they should have the power to investigate wrongdoing where there is reasonable cause for suspicion. When this is the case, our platform provides regulators with the capabilities they need to investigate asset transfers with appropriate judicial oversight.

The Kriptan token is a multi-function utility token used as the mechanism to incentivise participation in the network.

Why did you choose the digital identity industry? Which problem do you want to solve thanks to the blockchain?

Digital Identity is a huge challenge that is getting bigger by the day. No-one has solved it yet. We believe the zero-knowledge-proof we have developed is ideally suited to applications around identity where reliable proofing must be performed alongside the best privacy preserving capabilities.

Once we have a robust identity foundation in place where every person has a digital identity that can be trusted and verified in real-time against authoritative sources, it now means that smart contracts can operate to perform monetary transactions that can be linked to a digital wallet associated with a person’s trusted identity and recorded on a public blockchain. It can be done automatically in a way that is fully regulatory compliant with KYC, CTF and AML rules and regulations because API’s can verify a person as an integral part of a transaction. This will eliminate a lot of fraud, identity theft and friction that currently exists in the system.

When will your ICO start? Which price? Can you explain us the distribution of the token?

We aim to begin the private sale straight after the platform goes live which will be in Q3 2018. The price will be finalised closer to the date we go live.

Distribution will be according to the table below but is subject to change:

 

Investors 50%
Strategic Partners 25%
Sedicii & Advisors 15%
Foundation 10%

 

Strategic Partners are organisations who will help us seed the network so that we have sufficient IdP’s (Identity Providers), RP’s (Relying Parties) and ZVE’s (processors)

The Kriptan Foundation will maintain a treasury reserve in order to ensure the market has sufficient liquidity in case investors do not actively trade in sufficient volumes.

Sedicii, the company, will receive its allocation for contributing its IP to the Foundation.

Is it a utility token? What is its function?

Yes. Kriptan is a utility token. It is a tri-mode token that acts as a discount token for users of the service (“ RP’s – relying parties”) who seek to verify identities, acts as a work token for validator nodes (ZVE’s) who are the processors within the network and then as a payment token to end users for their royalty payments.

Tell us more about your team

Our development team has a number of PhD’s and computer scientists who are experts in the domains of artificial intelligence, cryptography and biometrics.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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