On March 27th, Lim Yoong Hoon , the founder of IDALL, attended the online AMA event hosted by CyptoCould Telegram community, sharing and exchanging information on the IDALL project.
The following is the AMA recap:
Host: What’s IDall? How does it work?
Lim: IDall is a brand name that combines ID and all. We enjoy great benefits from the fast-developed Internet, but there are also many uncomfortable things. Typical examples are numerous IDs and passwords.
So I thought it would be nice to have only one ID. Also, I thought that the password is a serious security problem, so I need another better security technology. Fortunately, we have a special and innovative authentication security technology PASSCON. IDall is a decentralized one ID crypto ecosystem that can do anything with a single ID by combining our unique security technology PASSCON and blockchain.
IDall’s decentralized One ID ecosystem does not use passwords. So it is called Passwordless one ID. Even if you only need one ID, if you keep it secure with a password, there is a high chance of being anxious or hacking all the time. An example is social login, which is used a lot these days. However, the PASSCON used by IDall is not a password. The technical characteristics of PASSCON will be explained in detail in the next question.
Now the password is gone and if you use PASSCON it is very easy and secure to use all your internet logins and crypto wallets. As everyone knows, cryptocurrency wallets are very difficult and inconvenient. The industry can develop only when the blockchain ecosystem spreads and the number of cases used in real life increases. However, I think it is very difficult with the current wallet. The wallet that we apply to the IDall ecosystem is very easy and safe by combining PASSCON and blockchain technology. One ID and no password.
Host: What are the marketing strategies of your project ? any plan for the future?
Lim: We believe that technology and user communities are essential to the success of the project. We have already completed the PASSCON technology and are providing app services. Application services using wallet functionality and smart contracts are not a source technology and will be added without difficulty. Therefore, marketing missions that expand the user community and enhance loyalty are very important.
Fortunately, we have found a very meaningful and valid market. It is the Password Manager Service market. Even today, people who are tired of too many passwords are using the Password Manager APP for at least $ 12 a year and over 20 million people are using it. Interestingly, all these services manage passwords with passwords. We have a special competitive edge in this area. It is more convenient and safer because the password is managed by PASSCON, not the password. In addition, IDall tokens issued by us can be used to provide services that are significantly cheaper than competitive services.
Competitive services cannot spread to the global market due to the extremely expensive usage fees. However, we can target a wider market by using the token economy. First, we will spread the IDall app in the Southeast Asian market. IDall does not yet have wallet and DID functions, but we will increase the number of users first with the Password Manager Service function. In addition, IDALL tokens will be listed on the global coin exchange every quarter to continuously expand contact with potential users. And we will further strengthen our relationship with users on SNS.
Host: What are your major goals to achieve in the next 3–4 years? What are your plans to expand and gain more adoption?
Lim: The goal is to make the cryptocurrency real life ecosystem work in the global market within the next 3–4 years. By 2020, we will add wallet services to IDall apps and achieve up to 1 million app downloads. In 2021, the decentralized one ID service will be launched. This means that smart contracts compatible with various mainnets will be developed in 2021. And in 2022, shopping malls are connected to the ecosystem. This is possible because shopping malls participating in IDall one ID are free from all concerns about security. And at the same time, users will be shopping with tokens at connected shopping malls, MyMarket. At that time, we are confident that over 10 million IDall apps will be downloaded.
This is a target and plan for the B2C market, but we have a plan and target for the B2B market at the same time.
Our PASSCON security technology provides optimal convenience and security for all login and e-commerce transactions. Therefore, many banks, fintech service companies, and cryptocurrency exchanges purchase and use our PASSCON solutions will greatly help their competitiveness. Therefore, we will continue our efforts to sell PASSCON solutions. And I believe that as IDall app users increase, awareness and reliability will increase, which will have a great synergy effect with the B2B market. Conversely, if PASSCON is performing in the B2B market, the IDall app will spread even more. Increasing synergy between the B2C market and the B2B market is the key to future marketing plans.
Host: In what areas does PASSCON beat other security technologies and how does PASSCON do it?
Lim: To understand why PASSCON can be more secure, we first need to know why passwords are dangerous.
There are many reasons why passwords can be hacked very easily, but I will only explain two.
The first password is entered using the keyboard as the user thought. And the keyboard is a world standard and it has been supplied so much that it cannot be changed. Attackers all know how to hack values entered from the keyboard. Second, the dark web is the problem. On the dark web, it is very easy to obtain hacked passwords in any way and very cheaply.
Therefore, the password is no longer a secret.
Now I will explain the principle of PASSCON.
PASSCON does not use a keyboard. Therefore, the risk of the keyboard disappears all by itself. PASCCON’s personalized authentication dashboard is built around user-friendly image icons. These are shown as patterns, PINs or just image icons.
The key difference from the keyboard is that besides being user friendly, no one knows what the value being entered is. That is, even if you press 1 on the PIN dashboard, the actual 1 is not entered. Actual input values are different for each user. Neither the actual user nor the server knows the value.
The PASSCON pattern and PIN have one more amazing ability. Since patterns can overlap the same points, you can draw an infinite number of patterns. In PIN, there are 729 ways to enter 111111, the most popular in the world, with 3 to 6 power. This is a tremendous advantage compared to the existing PIN, where there is only one way to enter 111111. Because if you lost your smartphone and you said you were using 111111, it means your cryptocurrency is still secure.
The next important security element of PASSCON is 4 factor authentication. Most investors will use their password and OTP to log in to the exchange. Using two factors like this is called 2FA. However, strictly speaking, this is 2 Step, not 2 FA.
Each step is susceptible to attack if not combined into a single process. PASSCON provides the strongest security because it processes 4 factors in one authentication process.
The four factors are Auth Key, such as patterns, natural random numbers generated by photos, device-specific information, and private keys that generate digital signatures.
The reason why PASSCON is convenient and groundbreaking is also due to natural random numbers. No one in the world can take the same picture. Therefore, the photograph itself is a natural random number. The user can select a photo only once and generate his own natural random number and use the authentication factor, so hacking is impossible.
There is one more thing. PASSCON makes crypto wallets powerful. It is because of the special way of encrypting the private key stored in the cryptocurrency wallet. All other wallets encrypt the private key with the password you enter. As you know, the password can be hacked the moment you enter it. However, PASSCON is not such a keyboard input method. You can apply encryption keys that are many times more difficult and more complex than passwords. And it is generated using the natural random number and the authentication key inputted to the dashboard at the same time. Therefore, IDall wallet is the safest and simplest in the world.
Host: Why should we buy this token?
What is the advantage of holding this token for long and short term period?
Can you give me 3 key reasons why I should invest IDALL long term?
Lim: The reason to buy an IDall token is that the IDall project will succeed. We have unique and innovative technology and have deployed commercial services as apps. We have proven technology, which is useful for anyone who uses the Internet.
Google, Apple and Facebook have yet to offer a technology to replace passwords. For 50 years of internet history, everyone has recognized the problem, but it hasn’t been solved yet. But we have the solution and users are cheering us on. Therefore, I am sure it will succeed.
In the short term, we are preparing to be listed on the global exchange Hotbit. Therefore, we can provide satisfactory results to short-term investors.
In the long term, we will be listing on quarterly exchanges of at least one director. The number of people with IDall tokens will increase, and our app service users will increase. Therefore, the demand for tokens will also increase. The cheapest way to use the IDall app is to keep 10 tokens. As the number of users increases, so will the demand for remittance and payment purposes. Therefore, according to the principle of supply and demand, the price of the token is also forced to increase.
Additionally if you hold IDall tokens for a long time,
we will also provide compensation through the staking service of the exchange.
When the price of the token reaches a certain target value, the issued token will be continuously burned.
When the PASSCON solution is sold and the advertising revenue and app usage revenue are accumulated, the token will be purchased back and burned.
Therefore, it is more advantageous to hold a token for a long period of time to get a stable profit than to repeat the sale according to the fluctuation of the price.
IDall project is the ideal combination of technology and service, effective market, profit model and token economy policy. We wish all of you to achieve satisfactory results through IDall tokens.
Many thanks to all the Coulders members who have spent a lot of time today listening to IDall AMA. I did my best to introduce our project, but if you have any further questions, please let me know through further questions and PM. And if you visit our user community @idalluser, we would be much more grateful.
Thanks for reading through this AMA.
#IDall #Password #Blockchain #Passwordless #PASSCON #DecentralizedID #DID #oneID
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Telegram news channel: https://t.me/idalluser
Facebook Global Page: https://www.facebook.com/IDallGlobal/
Facebook Korea Page: https://www.facebook.com/IDallKorea/
Android App: http://bit.ly/IdallAndroid
iOS App: http://bit.ly/IdalliOS