The ICO will run until October 25, 2017. SILC did not offer its tokens to institutional investors in advance in what is called a pre-sale; instead, it is targeting consumers and, in particular, millennials, who the company says will be the most affected by identity fraud. A limited supply of tokens are available to purchase during the ICO, with more being released with each product and application launch from SILC.
With this ICO, the company aims to further develop its digital ID platform enabling consumers to authenticate, enrol, identify and perform personal monitoring. The platform will provide individuals with a unique digital token that enables them to prove their identity to third parties. SILC operates through a Verified Existence Algorithm(sm) in which both parties can exchange and confirm information through the SILC dashboard without it being recorded.
The SILC blockchain will be the entry point for individuals, government and companies to learn how digital ID data can be recorded, managed and distributed in a more equitable way.
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