An innovative global identity
“Identity defines a person. Identity gives him recognition. Identity is what helps a person differentiate from the rest.”
But what will happen when the identity is stolen and used for fraudulent purposes? Identity theft, also called identity fraud, is a crime in which an imposter obtains key pieces of personally identifiable information, such as driver's license number or Social Security number, to impersonate someone else.
The stolen information can be used to obtain credit, merchandise, and services in the name of the victim, or to provide the fraudster with false credentials. This might not only lead to running up debt but also in rare instances; an imposter might give false identification to police which might create a criminal record or leave outstanding arrest warrants for the person whose identity has been stolen.
In an article published by the Insurance Information Institute, the facts and statistics show that there were 16.7 million victims of identity fraud in the year 2017. You can check it out here: https://www.iii.org/fact-statistic/facts-statistics-identity-theft-and-cybercrime
Ydentity, a new generation of digital identity, took upon the challenge to overcome these issues and created a risk-identity token that runs on a permissioned blockchain. With Ydentity, the user will benefit from an incredible new tool, a new identity constructed around a scientific assessment of the user’s risk habits. It makes the user aware of oneself and aware of other characteristics.
With Ydentity, the user will be in total control of the data and can decide to trigger a payment at the exact moment the user wants to acquire a product or service based on the user’s anonymous search. Ydentity has no knowledge or control over anything the user does with the Ydentity after he/she has activated the token. There is no way any company website the user visits can identify the user from the Ydentity token and track the real self.
Ydentity is the world’s first risk-identity blockchain token based on cognitive neuroscience to evaluate risk and provide a predictive model for customer onboarding and risk underwriting. Ydentity integrates blockchain technology to create a risk-identity token that is located at a confluence of psychological testing and government identification and meets with defense-grade KYC and cybersecurity standards. This allows for a globally recognized identity for the users which has built-in information that enables people to interact with others.
Based on a simple ‘yes/no’ assessment which consists of 30 random questions, a unique identity token will be created for each user. Each Ydentity token provides a secured, agnostic and encrypted ID that protects the identity of the token holder during web navigation. It will allow anonymous discovery of other persons, products, and services. These features are in high demand in the social media and dating industries. Since this risk assessment reflects the unique brain features of each person, this feature is in high demand for the insurance, investment and banking industries.
On purchasing a token and receiving their Ydentity, users are then invited to enjoy a 30-day free trial of limited features of the Ycommunity. On full sign-up to the Ycommunity, the user gains full access to a decentralized peer-to-peer organization managed by its members. Membership allows users to decide which service providers they choose to disclose information to.
The Founder of Ydentity aims to build a new digital nation,
“The ultimate goal is to develop what I call a “Bright Nation”. The goal is for the Ycommunity to become an independent nation using Ydentity, AssurCoin, and also a number of vendors that will actually provide services to allow the community to function as a purely digital nation. We anticipate having 100-200 million Ycommunity members in the not-too-distant future.”, he commented.
Ydentity aims to provide a unique identity token that is accepted worldwide along with a community that carries strong morale.