The online AMA (Ask Me Anything) was organized on 25 March 2020 on IDall Global official Telegram community. In over 60 minutes, we answered all the questions which raised by their community members about IDall project
The mission of our IDall project is to remove passwords from the internet and blockchain. This is because everyone knows that if we continue to use passwords, we can’t secure personal information and assets and it’s not convenient to use. In addition, we have a special security technology PASSCON that can remove passwords, so we are confident that this mission can be achieved.
Here’s a recap of Q&A
Why did you name your project “ IDALL”? Does it have any special meaning?
What is your background and how did you come to the idea to create your project?
A: ID means Identity and ALL is all. If you add one to the front, it becomes one ID all. As we use the Internet, we face problems with more and more IDs and login authentication keys.
IDall means that you can conveniently and safely do anything with just one ID.
I studied statistics at university and I have experience in credit evaluation modeling at Credit Bureau. This experience helped me to understand and apply software algorithms. Also, while modeling credit ratings for the people of the nation, I have always thought that security issues are important. Everyone seems to always be inspired when they think about something for a long time.
Eventually, I invented our own technology called PASSCON that can solve security problems and came to the conclusion that token economy is the fastest and most efficient way to provide it to global users.
what will idall do in facing the world crisis due to corona virus?
A: Corona is a serious problem. The IDall project is not really directly related to the disease. However, I think the global panthemic will have a bad impact on all global economies. The same is true in the blockchain and cryptocurrency markets. As people have to prepare their living expenses, their investment resources are getting smaller. Gold bar and Bitcoin fell together recently. This is evidence
However, the future of the IDall project is still bright. Because cyber security is in the same context as health security. From now on, investment and demand to protect people’s health will increase exponentially. Many countries have learned how important it is for preventive investments to remain safe. More often, masks and diagnostic kits are insufficient to cope with heat. This is called “health security”.
Cyber security is no different. Preventive investment is always required. Therefore, I think that people in the IT industry will know the need to actively introduce more and more advanced technologies before they are hacked. Therefore, we believe that IDall project and PASSCON technology can get more attention from investors and IT market.
Let me give you an example. Bring Your Own Device (BYOD) is one of the rapidly expanding corporate cultures in Korea because of pandamic. Because most of them work at home without going to work. This can cause serious security problems in the future. Therefore, stronger security measures are needed.
What do you think is the biggest problem IDALL will solve which is not solved by other projects and why this is the problem important?
Which market are you targeting for 2020? What strategies do you have to attract users, and keep them stay with your platform for longterm?
A: Let me first explain what IDall is trying to solve.
In the meantime, IT technology has developed remarkably. Blockchain and cryptocurrency can also be said to be gifts from the development of IT technology. But from my point of view, most companies and projects seem to have focused solely on providing new value, collecting customers and making money. Because we are all still secured only with passwords. Everyone knows that passwords cannot achieve satisfactory levels of security or convenience. Nevertheless, no company or project seems to have solved this problem yet. We will solve this problem with our unique technologies PASSCON and IDall platform that replace passwords.
Blockchain and cryptocurrency, as well as the Internet, must be secured with a reliable security system to develop continuously and be used by many people. In particular, this problem is even more important because the decentralized blockchain ecosystem has no party responsible for consumer complaints and damages.
Our target market in 2020 is the B2C market. Especially among Internet users, cryptocurrency investors. Therefore, we will list our project on exchanges in as many countries as possible to form a strong and huge user community.
The process of making people aware of the problem of passwords and knowing that our PASSCON technology is the best answer is a lot of effort.
However, once IDall users know the value of security and convenience, our community and users will remain stronger.
In addition, in the long term, we can make profits with payment services and advertising services and expand our market to B2B to keep the platform stable.
How can you think of this project with different security ways with PASSCON to help users gain a security?
A: 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.
What is Passcon used for?Do you think it will be used in more products and become the best technology in the future?
A: PASSCON was invented to remove passwords. Therefore, it is the best technology that can be used to enhance security and provide convenience to users for all web and app services to which passwords are applied.
You are using your password for Telegram now. Probably many of you here can’t remember your Telegram password now. There is a password finder function, but it will be inconvenient and annoying.
PASSCON can be applied to cryptocurrency wallets as well as mobile banking and all fintech services. This is especially necessary for cryptocurrency exchanges and wallets. Because banks can regain money that has been incorrectly transferred by an attacker, or have a way to block withdrawals. However, cryptocurrency has no way to be rewarded if it is hacked. This is a key barrier to the development of blockchain and PASSCON will solve this problem.
In this kind of technology or software how can we sure that our privacy and security of our personal passwords and notes will not be used or hacked by others also any innovations that will enhance the technology of this project
A: It seems to be a question about the password manager function currently being released among the many functions that IDall APP is providing or will be added in the future. In fact, many people worry about privacy. In particular, I think this is because the password manager stores a lot of passwords. They think project operators will be able to open their passwords. But it is totally impossible.
The reason why even the server’s super administrator cannot open the user’s information is that PASSCON is a complete zero knowledge authentication technology and a special encryption method.
In the four-factor verification mechanism of PASSCON described above, the server only knows the value of the last digital signature. Therefore, the server does not know the factors such as the user’s natural random number, pattern, and PIN. So it is a complete zero-knowledge proof.
When storing a user’s password or memo value, it encrypts the user information safely by generating an encryption key with the natural random number and Auth Key used in the zero-knowledge proof technology. Therefore, even the server administrator cannot open user information.
These technical mechanisms from PASSCON provide surprising results, but the problem is that it is too difficult to spread the technical principles to everyone.
So, I think of two alternatives as a way to solve the user’s privacy concerns.
Currently, we are providing the option to store user information on the server, but in the future on a local device. The disadvantage of storing locally is that it is difficult to conveniently synchronize with a PC or another smartphone device. If you use only one device and you lose it, you may run into a big problem.
In the future, Idall will implement a finger print system ??
A: Naturally, we will add IDall biometrics. However, now is the first time to spread the value of PASSCON. Adding biometrics now will eliminate the opportunity to learn the value of PASSCON itself.
I have a question about biometric authentication, so I would like to explain it further.
Many people believe that biometric authentication, such as fingerprints and irises, will replace passwords. But it is impossible. I will not explain the security flaws of biometric authentication technology today. Because there is a more important reason.
There are two ways to implement biometric authentication. One is to store the user’s biometric information on the server and the other is to store it on the device. In the case of saving to the server, if the server is hacked, the situation becomes serious. This is because the living body cannot be changed. So the FIDO world standard stores biometric information on the device.
This is why biometric authentication cannot replace passwords. This is because the password is the only way to authenticate the user when changing the device or registering new biometric information on the device.
Nevertheless, the reason for adding biometric authentication to IDall is that IDall is a combination of PASSCON and biometric authentication, not a combination of password and biometric authentication. In other words, perfect biometric authentication is completed in IDall.
Aside from the current function and uses of IDALL , what we will be the next expectation to this platform? and have you plan to add a feature as a payment system to the platform?
A: The current IDall service is Password Manager. In order to spread the value of PASSCON, the password manager was selected as the best practical use case. This is because a number of competitive services are already making money through hundreds of millions of downloads, but this is a securely flawed market.
The next level of IDall service that we plan is a cryptocurrency wallet. We have designed the safest and simplest cryptocurrency wallet that does not require you to remember mnemonic.
Next, we will connect multiple mainnets through the wallet. And we will implement a decentralized identity authentication mechanism using smart contracts. This is the fundamental platform of one ID all things that IDall pursues.
Lastly, the Crypto Fintech ecosystem will work, where you log in with a decentralized One ID and make payments or transfers with IDall tokens. At that time, of course, tokens or coins other than IDall tokens will also be used in our ecosystem.
The level of popularity and user attraction is a very important issue for blockchain projects. So, what solutions does IDall have to solve this problem and marketing plans to increase active users?
A: That’s correct. The most important thing in the success of the project is getting support from the public and creating satisfaction.
We don’t doubt that passwords are a source of stress for everyone first. If so, we are confident that if we inform and prove that we can solve this problem, we will receive great public support.
In the last two months, our telegram community has grown tremendously. In the main group of more than 10,000 people and in each of the eight growing country-specific communities, we host daily quiz rewards for IDall and PASSCON. This quiz event has been very popular, and in order to solve the quiz, members naturally learn about IDall and PASSCON and more and more people support the project. Users provide additional insights about IDall in the community. New needs and disadvantages are presented. We will improve and develop our services in response to those needs.
Through the community, new users will continue to know IDall and PASSCON, and users’ satisfaction with the IDall app will continue to increase. In addition, we will continue to list IDall tokens on many exchanges, informing our potential users of our services. All investors are worried about the security of their passwords while using the exchange. Therefore, increasing the number of listed exchanges will be a great help in continuing to increase new users.
Southeast Asia is a very vibrant market and most projects are competing campaigns here to entice users and grow, with IDALL you see how Southeast Asia is and do you plan to develop & expanding here?
A: Southeast Asia is a great opportunity for us. In the future, I am confident that the e-commerce and crypto-based fintech industry will grow significantly in the future.
Also, in the process of IT-based industry development, security problems always act as a stumbling block. In addition, cryptocurrency cannot be expanded to fintech services without a simple and secure wallet.
We have a solution for security and a solution for easy wallet, so the Southeast Asian market is bound to be our optimal target market.
So, with our long-established strategy, we have been working to grow local communities in Indonesia, Vietnam and the Philippines. We believe that localization of the community is essential because we need to cross the language barrier to quickly gain users and support.
As a result, the community is developing rapidly and strongly.
Through this, we will promote the B2B business to supply PASSCON to IT companies and financial institutions in Southeast Asia after successfully building a B2C market.
Community is the successful key of any projects, so what are IDALL plan for expanding community and which area you are priority?
A: We believe that community is very important to all global businesses, not just blockchain projects. It is also a great opportunity for communities and projects to grow together.
There are important principles to grow together. That we shouldn’t just focus on the global community. I think it should be thoroughly localized. So we are creating and supporting communities for each country from the beginning. Each community has a local CM, and important materials are instantly translated into local languages and shared.
The next important principle is to share revenue. Of course, this will only apply to community members holding IDall tokens. However, we will surely increase the value of the token through the successful execution of the project, the increase of users, and the company’s profit generation. The generated revenue will contribute to the increase in value through the token’s buyback and burning.
Finally, even if you don’t hold tokens for investment purposes, a rewards program will work that will benefit your community members a lot.
For example, paying the app fee in fiat currency is $ 10, but paying in tokens is 10. Based on the current price, it is almost free.
We will provide a 0.5% buyback reward when future payment services start. We will provide 50% of the revenue generated by the advertisement service as a reward.
All these reward programs will be a great growth model to grow with community members at no extra cost.
The price of money does not reflect the development and benefits that the project brings, can you give people here a few reasons why they should invest and keep IDAll in the future?
A: I agree that the price of coins and tokens created by many existing blockchain projects does not reflect the performance or value of the project.
More precisely, we can say that the price still has bubbles. This is because the services applied in real life are not growing together. Therefore, it is true that price and value are not linked, but even if the project’s performance is achieved, it cannot be said that it will not be reflected in the price.
Therefore, we will continue to expand real-life users and ensure that project performance is reflected in the token price. People who suffer from passwords will increasingly use IDall. Revenue is generated and the generated revenue will also be used to manage the token price. Recognition and credibility of PASSCON will increase, and the B2B market will start generating profits.
This is why you should invest in IDall tokens.
Investing in IDall can speed it up. Then the token price will go up and the investor will get profit. If you don’t invest, one innovation that can make the world safer and more convenient will disappear and investors will lose the opportunity to make money.
This process will take at least three years, but long-term investments will provide greater returns.
What are the ways that IDALL generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
A: We have three main revenue models. App service fee, advertisement revenue, and PASSCON solution sales revenue.
Community members, who have IDall tokens, pay the app service fee in 10 tokens. However, if you pay in fiat money, it is $ 10. Nevertheless, it is very cheaper than the competition fee.
There are still a lot of people in the world who haven’t entered the world of cryptocurrency, but we can make money from them too.
Advertising revenue will be distributed among community members using IDall. PASSCON solutions will be supplied to financial institutions, etc. to further burn IDall’s awareness and reliability.
The generated revenue will also be used to buyback and incinerate tokens to protect the value of investors.
Security and trust are one of the things users are most interested in in the blockchain system, so where is the transparency of IDALL shown?
A: We will run the project transparently.
The reason you can trust us is that first we have already invested 6 years and a lot of money to develop PASSCON. In other words, it is not a technology to create in the future, but a technology that has already been completed.
You can confirm that it is an existing technology by downloading, installing and using the IDall App from the App Store. In addition, both white papers and blue papers about IDall are open to the channel. IDall & PASSCON The results of the APP download are always released on the Google Play Store, so you can check the performance at any time.
In addition, every quarter, we will transparently disclose the funds, places of use, and balances secured by token sales through the channel.
What is the biggest goal of the IDALL? Does IDALL have any plans in the future?
A: Our ultimate goal is to create a world without passwords. It is to make all people comfortable using the Internet and blockchain services. It will be achieved by expanding our IDall ecosystem and applying PASSCON solutions to many financial institutions and companies.
Our IDall ecosystem, on the one hand, is competing with Facebook.
As everyone knows, Facebook is working on a Libra project. IDall and Libra have something in common.
Facebook is looking for a digital ID using a social login platform based on password authentication. It is to build an ecosystem on the platform based on Libra Coin. IDall is building a token ecosystem based on one decentralized ID without a password. We will not create a mainnet. Instead, we’ll use a mainnet that works well with smart contracts and has many users. Therefore, the ecosystem can be expanded quickly and extensively.
In a blockchain ecosystem where transactions cannot be reversed, everyone wants to be more comfortable, so we are confident that IDall armed with PASSCON can win the competition.
Thanks for reading through this AMA.
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