An Intellyx Brain Candy Brief
IAME is entering the crowded decentralized identity market with an offering that centers on the notion of ‘microfragments.’
IAME breaks up an image of a completed identity form (say, with an individual’s name, address, passport number, etc.) into tiny pieces, each of which may only contain a few letters. The platform then distributes these fragments to many nodes for validation.
Anybody can perform such validation with a simple mobile app that gamifies the process. The user would see a fragment and validate which characters appear.
IAME is building a token-based ecosystem to support such validation. However, the company expects the value of the tokens people can earn to correspond roughly to $3 per hour, although the amount may end up quite less – thus making such validation appealing primarily to people in the developing world.
The user creating the validated identity pays into the system, while merchants and other people who access permitted parts of such identities access them for free – thus differentiating IAME from other decentralized identity schemes that charge the merchant.
IAME is targeting crypto users for its service initially, thus limiting its addressable market to the crypto community.
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