Blockpass-Bringing transparency and trust to Blockchain
Blockpass launched its Initial Token Distribution Event (“TDE”) globally through the sale of tokens (“PASS tokens”) last Thursday, [May 31] in Hong Kong. Blockpass is an identity application for regulated services and the Internet of Things (IoT). As a self-sovereign identity platform, users are able to establish, verify, store and manage their identities, maintaining full control over all data involved.
Blockpass will issue a finite number of 1 billion PASS tokens of which 250 million PASS tokens will be available for purchase during the Initial TDE from authorised distributors up until November 30 this year.The PASS tokens available at the Initial TDE will be priced at 0.10 Euro per PASS token.
The Blockpass app is consumer-oriented and will enable users to create a new account (profile), submit documents for verification, submit their digital identity to service providers to pass KYC, log in to Blockpass-enabled services, sign crypto-asset transactions, and access third-party decentralized applications (“Dapps”).It is available on Android and iOS.
With an initial focus on human identity, Blockpass will provide a reliable and cost-effective Know-Your-Customer (“KYC”) and Anti-Money-Laundering (“AML”) service for regulated industries, blockchain merchants and service providers.
Adam Vaziri Founder & CEO of Blockpass
Adam Vaziri, CEO of Blockpass, said: “Blockpass provides an exciting, easy to use, identity verification solution to the proliferating and serious security challenges created by the fast-evolving digital age. By turning personal validation data into an anonymous cryptographic code that is whitelisted on the blockchain, Blockpass gives users back control over their own identities and eliminates the need for painful online validation processes. Businesses will benefit from vastly reduced KYC/AML costs and will no longer have the liability of protecting vast amounts of sensitive personal data in an age of GDPR.”
He added “Today represents an exciting milestone for Blockpass as it will allow us to accelerate the development of a differentiated offering that will bring transparency and trust to the blockchain ecosystem where we are already established with a dozen leading suppliers and partner companies.”
“We have an experienced management team with a clear revenue model and strategy for growth and a first mover, patented advantage in the growing regtech market which is expected to reach $118.7 billion USD by 2020. The funds generated from the PASS tokens accelerate awareness through branding and marketing and the tokens themselves will be used to encourage utilisation. Holders of the PASS tokens will also participate in the growing value of Blockpass. We have numerous opportunities for growth but are prioritising crypto offerings and financial services where the need for identity validation is particularly acute.”