Sphre announces crowdsale to launch digital identity platform

Thursday 23 March 2017 00:08 CET | News

Blockchain Identity Management company Sphre plans to launch an Initial Coin Offering (ICO) for its XID token to raise USSD 1.5 million to digital identity platform Air.

Air is a system for digital identity and individual microeconomic engagement based on blockchain infrastructure. Air’s API will allow third-party organisations and enterprises to integrate support for Air into their existing and new systems, while the mobile application secures and maintains each individual’s private key. Users also have the ability to store their key within a digital vault of their choice, such as a bank. The Hyperledger Chaincode (smart contract) forms the basis of the given identity, and contains program logic that will allow an individual to recover their identity if their mobile device is lost.

Air-based digital identities will take on a variety of forms, from the individual to the enterprise, all of which are fully owned and controlled by the creator and do not rely on a centralised entity or third party for validation. At its core, an Air-based digital identity enables the user to digitally verify an action or transaction, facilitating a variety of potential use cases.

The XID pre-sale is now live, offering a discount to participants. More information is available here.

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Keywords: digital identity, blockchain, Sphere, Initial Coin Offering, security, fund raise, XID token
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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