Xenchain accelerates and strengthen identity verification processes that requires facial recognition, making manual document authentication a thing of the past.
Xenchain create and distributes XenCoins to utilize the decentralized network of blockchain technology and enhancing personal data security by controlling where the data is stored and who has access to that information.Never in the history of humanity has personal identifiable information (PII) is at most risk of theft and misuse. As the growth in the digital space connects us and draws us closer to one another, sadly, this has also created opportunities for hackers and identity thieves to make their move. In the last decade, there have been a steady rise in identity theft and confidential breaches and an estimation of $107 billion have been stolen. The USA Today reports that more and more people will lose their identity to hackers, thieves and fraudsters if they do not pay serious attention to identity management and the aspect of data security.
The antivirus giants, McAfee have announced their decision to make identity theft one of the arrowhead threats
that they will be fighting against in recent time. This decision was made on the heels of data breaches happened
in 2017 that caused millions of people with SSN exposed to identity theft.
The situation calls for a robust platform for identity management, one that is practical, secure and efficient.
at Xenchain have developed a global platform that runs on the Blockchain network and operates under the
principle of smart contract that can gather, securely store and provide on-demand (with the permission of the
data owner), PII data to consumers and users alike at a lower cost and in a seamless manner. Xenchain are experienced in managing KYC and user data access using modern and high tech software solutions for text and facial recognition that can be deployed for user data validation.
Xenchain is revolutionizing the identity verification industry by enabling KYC (Know Your Customer) technology on mobile devices. Our solution provides users a hassle-free and quick verification process while securing their personal information with power encryption methods. By integrating blockchain technology and a decentralized network, users now have the option of using Xenchain cryptocurrency called XenCoin (XCN) to fully utilize the e-KYC application. The utility tokens will be distributed by Initial Coin Offering (ICO).
Xenchain provides an alternative solution without the need for intermediaries such as financial institutions. Users now have control over who has access to their information and 3rd parties who require their information must first obtain permission from the users before retrieving their data from the Xenchain network. The use of blockchain enhances the security of Xenchain, as personal info will be encrypted in a hash-key form, unique to each individual. In the long run, Xenchain aims to prevent identity fraud from running rampant and to simplify the facilitate identity verification processes.
|Total Tokens||200,000,000 XEN|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
The existing identity management systems are inefficient and ineffective in handling present challenges, let alone
future threats and growth. The infrastructure is not able to cope with the ever-increasing demand for security, and
this is expected to rise by more than double by 2025. A change in the existing model is necessary by shifting to a
decentralized and highly structured platform.
Blockchain technology fits perfectly into the identity management structure because it allows end-users direct
access, empowered by transparency and smart contracts.
Using proprietary and ongoing research, Xenchain aims to leverage the best practice on Blockchain, big data and Artificial Intelligence (Computer Vision and Sound) for a complete electronic ID and onboarding Blockchain
network. Xenchain methodology and technology enable an identity to be properly acquired, identified and verified via a mobile application. Xenchain will be releasing the Software Development Kit (SDK) on Android and iOS, enabling developers to incorporate our methodology and technology into third party for free, and eventually make it Open Source under GNU LGPL licensing scheme. The objective is to allow any 3rd party globally to employ the consistent method to onboard identity data into Xenchain. The more comprehensive Xenchain data is, the more powerful and useful for the Xenchain community.
Peer to Peer
1. XenUser with XenScore >5 can become a XenValidator referee to another XenUser.
2. The XenValidator user and XenUser is linked in Xenchain.
3. At least 3 XenValidator need to vet and act as referee for XenUser who wish to be validated via peer to peer (New XenUser).
4. XenValidator will be asked 2 questions related to New XenUser. Accurate answer to the 2 questions will contribute XenScore.
Xenchain Utility Token
For settlement within Xenchain network, the utility token XenCoin ( XEN ) will be created. XEN shall be based
on ERC-20 ETH – a widely and proven Blockchain technology. XEN will play the main role of transaction
settlement instrument paid by XenDataConsumer for retrieving or verify identity data.
XEN is also the incentive instrument to encourage XenValidator to provide the identity data validation service
through referee or trusted data source.
XenUser will be given XEN whenever the identity data is shared to XenData Consumer ( with permission ) to
encourage user to actively manage and update their identity data profile.
XEN is an essential component as it provides a global, automatic and irrefutable payment method for all
participants in Xenchain.
Stage 1 Xenchain version Alpha ready.
Stage 2 Xenchain trial deployment with corporate customers. .
Stage 3 System readiness with corporate XenValidator.
Stage 4 Xenchain structure and legal preparation.
Stage 5 Xenchain Whitepaper
Stage 1 Xenchain version Beta +Blockchain storage.
Stage 2 Public to participate in token Sales using Xenchain KYC service.
Stage 3 Campaign in leading Asia,Europe cities.
Digital Currency Exchange
To ensure that effective measures are in place against money laundering/terrorism financing risks associated
with the use of digital currencies and to increase the transparency of digital currencies activities
Steve rao Founder/CEO
Daniel Pacheco Vice President – Product Development
Hui Yong Sia Advisor
Mark Pui Advisor
Also Read – Click Here for Read All ICO Review
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