iTrue is a blockchain-based a platform for authentication with biometrics. The currently safe biometric authentication can be finished by scanning hand veins and the iris. The veins pattern contains detailed characteristics that can be used to formulate an algorithm template. The ability of Businesses offering improves the security of the application without making it difficult for users to access authorization.
iTrue also is a platform that provides microservices as building blocks. Since the middle of 200s, iTrue have been developing distributed control system and in 2015, it mastered blockchain. The company decided to implement a blockchain because to safe ans secure from the data theft. The solution by the company is designed for high speed and capacity of current blockchain.
There are many problems that faced iTrue such as passwords are unsafe, centralized systems are prone to failure, users do not control their data etc. but the company is also find the solutions for all those problems such as password are unsafe, the company tried to secure system for authentication by using biometrics. Each problem has a solution.
In global biometrics market will develop from $2.0 billion in 2015 to $14.9 billion by 2024 with a compound annual growth rate (CAGR) the total of 10 years are $67.8 billion. The biometric represent the largest revenue segments will be fingerprint, voice, iris, and facial recognition and the largest application markets for the technologies will be consumer, finance etc.
The main reason why iTrue use the blockchain as a service (BaaS) market because to the need to lower risks, complexities and increase efficiency with the low cost of bandwidth, data storage and computing. The Biometrics, BaaS and privacy policy solution markets spread in different regions such as Americas, Europe, and India etc. for the Americas, Biometric technologies are continuously being implemented in various government agencies in the United States such as commerce, justice etc.
There are many competitors that do similar services to the market. But there are competitors selected like Civic.com, Datum.org and Cambridge-blockchain.com. The comparison criterion are as follows the biometrics identification, dApps development, privacy control, device-free operations, data monetization and GDPR compliance.
There are type of the challenges of the current solution and the need for iTrue , It could be complexity, data ownership, insecure handling of data, insecure data storage on devices. iTrue has a key concepts for their company.
A GEO- dependent blockchain network is a blockchain-based business nework that falls under the regulation of a specific jurisdiction while A GEO-independent blockchain is a blockchain-based business network that is completely outside the jurisdiction of any governmental body. It is the preferred platform for users and organizations with libertarian points called crypto anarchists.
iTrue has the individual account like platform users that can iTrue use to gain access to digital assets, property or any physical asset. Then, app users use tokens to play for accessing. Data owners have an opportunity to earn by sharing data in real-time. iTrue business account includes contractors, clients, app users and iTrue developer account such as DApps developers and microservices developers.
The user verification process, first to register on the platform, the user shall pass the KYC procedure by using mobile phone or PC. Documents will scan by ORC system, biometric data gets scanned as a key to the uploaded user data and all the data inserted into the stone storage. There are typical uses a case like national identity schemes, securing banking operations and ATMs etc.
The token will distribute in iTrue foundation, team, advisors and Bounty Airdrop and for sale around 60%. The allocation of funds can get by legal issues, expenses on management, research and development, and marketing business development. The ITU token brings personal and commercial users into a single ecosystem with unlimited opportunities for scalability under a decentralized platform.
In 2018 will launch of the platform for privacy control and data sharing between users and clients. In 2019 the iTrue will develop 5 additional microservices to make personal life and business processes easier and safer, available for integration to the projects of iTrue platform third party developers.
The team members, Jack Cheng as a chief executive offices, Anton Gorozhanking as a chief technology officer, Max Tkachenko as a chief business development officer, etc. the advisors there is Ahmad Aliek as a financial strategy advisor and Raphael Hukai as a chief technology advisor. iTrue also has partners such as trade center Europa, Law&Trust, Crypto valley.
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