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BIOMETRIDS ICO Review: Decentralised And Anonymous Identity

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Nowadays one of the biggest fears of the Internet users is the identity theft. What if someone is using your personal information for some reasons, for example, to commit a crime? In some cases you'll never find out about such identity thefts. Imagine if there is a way to make sure that your personal data won't be stolen by hackers? An innovative project Biometrids can fix this by using your face to prove that you are a real person.

What is Biometrids?

Biometrids is a project that can stop the identity theft in the near future. The idea of this project is to allow users to verify their identities with the help of face recognition programs on their smartphones. Once a user creates his ID no one will be able to steal it. This information is stored in a blockchain where every user has a unique ID. For verification of the identity Biometrids uses the blockchain which provides anonymity to its users but assures that the person is who the true owner of the ID. Biometrids is using smart contracts on Ethereum network with ERC20 compatible tokens.

How Biometrids works?

All you need is a mobile device (smartphone or tablet) with an installed application. To recognize a face this platform implements machine learning. Moreover the program will make sure that aging or plastic surgeries won't affect the process of recognition.
Basically this means that the application will provide the users with the chance to prove their uniqueness while conducting transactions on the Internet. Imagine if a company that uses the platform needs to check your ID it will send a demand to you and you'll have to commit a scanning process to prove that you're not an imposter.
It is important that the information and images are not recorded on the devices, which ensures the anonymity of users. After scanning and confirming the identity of counterparties can verify the authenticity of information and do not worry, because of the possible actions of scammers. At the same time, companies do not need to store information about persons, which saves considerable money. Customers can also be sure that information about their identity can be reached by third parties.
The process of checking the identity of a person consists of two parts: an identifier request and an identity check. One party will send a request to the other party to verify the identifier, and the other party, in turn, will scan its face for verification. Each of these transactions will be paid using IDS, the platform's own token. These transactions will cost 0.1 IDS, 90% of which will reward sites, that individuals authenticate, and the rest will go to the Biometrids fund to support the further development of the platform.
The nodes will be randomly selected for IDS verification, and they will need to supply at least 10,000 IDS and have sufficient equipment. The nodes of the entire network will ensure decentralization of the platform. Using nodes to protect the network and ensure its decentralization, the network will be resistant to external interventions from third parties, such as hackers or governments.

What differentiates Biometrids from other projects?

The project uses the scans of your appearance, fingerprints, eyes and record your voice to make prove that your ID don't be stolen. Facial recognition uses the picture of an individual. It can use either 2D or 3D picture. The method of using 2D picture increases the possibility of frauds since a scammer can have a photo of a wanted individual. But Biometrids will use 3D pictures to recognize a person since it reduces the risk of manipulation. And to make matters even more complicated for hackers, the application is using an iris scan, in this way your ID will be exclusive. This process is combined with a password, making the Internet ecosystem a reliable place.
The use of neural networks in Biometrids platform will solve such problems as the existence of twins, and the natural processes of changing appearance with age. Thus, the identification of the user will not depend on the hair style or hair color changes, and will be valid throughout the life of the client.

What opportunities Biometrids offers you?

Biometrids is planning to design a platform that can be adopted by other blockchain projects, such as banks, wallets or companies. This will make our lives much easier. If a person wants to buy something the only thing he must do is to scan his face.
The application can also be implemented by civil service, for example, if you are stopped by a police officer you'll just need to make a scan of your face and the police officer will have the opportunity to read your driver's license on the phone.
Another problem which Biometrids can easily solve is package theft. For example, if you bought something on the Internet and you're waiting for your package to be delivered, a thief who is using your identity takes your package and walks away. But if you are the user of the platform, before the delivery, the personnel of the delivery service will match the person who conducted the purchase to the person accepting the delivery. The courier will simply have to scan the face of this person to make sure that he is not a thief.

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About Biometrids ICO:

Pre-Sale:

Start Date: 25.11.2017
End Date: 01.12.2017
Pre-Sale Token Available: 5 millions IDS (min. investment 0.1 ETH)
Pre-Sale Token Price: 4000 IDS/ETH
Contributable cryptocurrencies: only ETH

Main Sale:

Start Date: 19.02.2018
End Date: 19.03.2018
Main Sale Token Available: 70 millions IDS
Main Sale Token Price:
19th Feb - 25th Feb: 3,000 IDS/ETH
26th Feb - 4th Mar: 2,600 IDS/ETH
5th Mar - 11th Mar: 2,200 IDS/ETH
12th Mar - 19th Mar: 2,000 IDS/ETH
Contributable cryptocurrencies: only ETH via smart-contract

The allocated 10% of the team and the 10% for the foundation will be locked up for three years.
Every unsold coin during the ICO will be locked for five years. After five years, they will be sold back to early investors in a private fundraising campaign. They will not be sold on exchanges.

Tokens Allocation and Distribution (100 millions IDS summary):

Funds Allocation.jpg

Team:

Advisory Board:

RoadMap:

2016: Start of idea.
2017 Q1-Q2: Discussion and market study.
2017 Q3: Development of the concept. Find solutions to build the system.
2017 Q4: Pre-ICO 25 nov. -> 1 dec.
2018 Q1: ICO 19th Feb -> 19th Mar.
2018 Q2: Setting up foundation, and hiring process. Start the Developing of stage 1. Getting adopted to exchanges.
2018 Q3: Beta version of stage 1. Testing with community. Create design model and architecture for stage 2. Release of stage 1 and start development of stage 2.
2018 Q4: Development of stage 2. Create design model and architecture for stage 3. Start development of stage 3. Community meet up, where we discuss ideas, current plans, future plans, and what happened since the end of ICO.
2019 Q1: Beta version of stage 2. Testing with community. Create design model and architecture for stage 4. Start development of stage 4.
2019 Q2: Release of stage 2. Alpha version of stage 3.
2019 Q3: Beta version of stage 4. Testing with community. Release of stage 4.
2019 Q4: Beta version of stage 3. Community meet up.
2020 Q1-Q2: Full assembling of product and full test. Partner up with new services, to use our API.
2020 Q2-Q3: Biometrids go-live.
2020 Q4: Community meet-up.
2021: Ongoing branding and increase awareness of Biometrids to develop an onboarding process for businesses. Further, the development of the product with continue for bug fixing, new initatives and improve user experience.

Summary

In our opinion, this platform will be the market leader because of the obvious and undeniable advantages that it offers for consumers. Perhaps, by the time the ICO launches, their list will increase, which guarantees millions of customers around the world. Identity card, which is always with you, a purse that cannot be lost, the highest level of security of transactions - hardly anyone will be able to offer more!
In the modern digital economy, which is increasingly moving from the real world to a virtual one, similar projects are waiting for a great future. Innovative identity technologies can radically change both the security services market and the crypto-currency market. Every day we face dozens of actions in which the identification of our personality is required. The simpler and simultaneously more reliable it will be, the easier it will be for the end user, the more time will remain for real life, free from filling endless papers and entering passwords.
Biometrids is a project that can be a real breakthrough in technology since it makes impossible to steal someone's identity. It can make the Internet ecosystem a much safer place by using face recognition. It'll make our lives easier since all the purchases can be made in one scan of our face, we won't be preoccupied that our credit cards are used by someone else. This technology will change our world.