The Questions & Answers / Ask-me-anything session with IDALL founder & was conducted on April 28th, 2020 on exchange’s official telegram community

Daisy ( host):

Everyone! Today, we are very honored to invite the funder of IDALL,Mr. Lim Yonghoon to come to our exclusive live streaming event in our official Telegram channel and bring all of our users with further in-depth information on IDALL. At the same time, there are also prize-winning questions and answers, come and join us! Please let Mr. Lim say hello to everyone first!

Lim Yong-hoon(IDALL founder):

Hi. This is Lim Yong-hoon. I am the founder of the IDall project. I am very happy to meet a great exchange Hotbit and community member today. So let me tell you a little bit about my history and experience.
I studied statistics at university, and I have experience modeling a credit scoring system at a credit rating company. The credit score system is a statistical model that calculates an individual’s credit score using big data and is an application service that provides credit score information to all financial institutions. This experience allowed me to design very sophisticated algorithms. We also thought that protecting privacy would always require advanced solutions from cybersecurity while dealing with sensitive credit information. I briefly introduced myself. I hope everyone gets a lot of valuable information about the IDall project.

Daisy ( host):

Here is our online interaction session today. Online interview,a total of 11 questions,let everyone know more about IDALL

Below we are ready to start! are you ready?

Lim Yong-hoon(IDALL founder):

Ok, let's start!

Daisy ( host):

Q1: What is the IDALL and what problem IDALL is trying to solve

Lim Yong-hoon(IDALL founder):

Whether we are using the internet or blockchain wallet, we always go through an authentication process. This is the first gateway we go through with any service. And so far we all use passwords. Passwords are inconvenient and very insecure. In fact, many hacking accidents are very serious. Nevertheless, global companies have not yet solved this problem. So I think we should remove the password. Therefore, we developed PASSCON security technology that is superior to passwords and is very convenient.

IDall is the only Decentralized passwordless One ID crypto ecosystem in the world. We always promote “One ID all Pass” in the hope of realizing this. “One ID all Pass” is also our slogan.

IDall is a platform that connects the Internet, blockchain, and cryptocurrency to each other. And the connection process is improved with our innovative security technology called PASSCON. Not only is this connection all possible with a single ID, but it can be used with only one PASSCON authentication key and is secure from hacking. IDall is also a crypto ecosystem that circulates through the token economy. Users will receive rewards as well as easier and safer cyber lives by participating in the IDall ecosystem. The ecosystem creates added value, and the added value is shared by participants with various rewards. As the ecosystem grows, the value created and increased will be reflected in the token.

Daisy ( host):

Q2: You have a unique security technology? Would you explain PASSCON?

Lim Yong-hoon(IDALL founder):

Sure. PASSCON is the only secure and easy-to-use authentication security technology in the world. It is very difficult to achieve both at the same time, so we are very proud of our PASSCON technology. PASSCON was created to remove passwords. Passwords are a way to maintain security when logging in to a web / app or using an application such as a wallet. There are many security problems with passwords. What is the reason? The most fundamental problem is that the user enters the desired character using the keyboard. Therefore, to solve this problem, we must first remove the keyboard. So PASSCON uses the image dashboard instead of the keyboard.

No one knows what letters or numbers actually match the patterns or PINs or icons you enter on the PASSCON personalized image dashboard. That is, the user thinks and inputs the PIN as “111111” as in the old days, but the actual value entered is not 111111. Therefore, it is very safe. It is no wonder that it is more convenient than a password. In addition, PASSCON is equipped with additional technology that neutralizes the hacking attempt of an attacker. It is a natural random number made from photo files. No one in the world can take the same picture twice. So, creating a natural random number with a photo and combining the natural random number with a PASSCON authentication key is the most secure security technology.

Daisy ( host):

Q3: It is very interesting. But isn’t biometric authentication a technology that can remove passwords?

Lim Yong-hoon(IDALL founder):

It is necessary to first look at the principle of biometric authentication. The declaration of the FIDO Association, which leads the world standard of biometric authentication, is as follows. “The FIDO Alliance is an open industry association with a focused mission: authentication standards to help reduce the world’s over-reliance on passwords. Passwords endure despite the growing consensus their use needs to be reduced, if not replaced.” Most large global companies such as Google, Samsung, Apple, and Facebook are members of FIDO. Evidence that they do not have the technology to completely replace passwords.

That’s right. Keep emphasizing “Reduce”. “Remove” cannot be emphasized. The reason is simple. After storing biometric information on a smartphone, there is no need to use a password. However, it becomes a problem after the stored biometric information is erased, deteriorated, or when a new smartphone is purchased. This is because the web/app cannot know who the newly registered biometric information is. So, the user must enter the password again and authenticate it. But the user can’t remember. A very difficult situation happens. After all, biometric authentication does not remove the password. Security is also a concern. This is because the attacker will attack the password, not the biometric information. Therefore, in order to remove the password, it is best to sign up with PASSCON and register and use biometric information. We will be adding biometric authentication to IDall.

Daisy ( host):

Q4: Is IDall currently in development? What applications are you planning to add in the future?

Lim Yong-hoon(IDALL founder):

Let me share the PASSCON demonstration videos. Just minute,

Very convenient and user friendly. The user may not know how complicated and difficult the program is. Without a keyboard and natural random numbers working in the background, it would be very difficult for an attacker to hack. Using PASSCON alone will make it possible for an attacker to find another target that uses a password.

As shown in the video, we have completed the development of PASSCON technology. Our IDall project is not a theoretical project that relies only on white paper. This PASSCON technology is itself a security solution that can be sold to many companies. As more and more people use our IDall service and our trust increases, we are confident that not only individual financial institutions but also large global companies will adopt our PASSCON as their security solution.

IDall app is currently providing Password Manager Service using PASSCON security technology. This is a transitional use as we can’t remove all of the passwords right away. There are a lot of competitors that offer similar services and the fees are very high, over $ 12 a year. We will apply IDall tokens to this service to make it almost free. And we will add cryptocurrency wallet service. Crypto fintech must be activated to enable true blockchain industry development. To do that, we need a very easy and secure wallet. The wallet with PASSCON will be the simplest and safest wallet in the world. And by combining the IDs of smart contracts and IDall, we will ultimately add the one ID login feature we want to achieve. Every time these applications are developed and deployed sequentially, IDall’s ecosystem value will continue to increase.

Daisy ( host):

Q5: How can PASSCON and blockchain be connected?

Lim Yong-hoon(IDALL founder):

Good question. Since blockchain is a decentralized platform, it is difficult to apply authentication services. Because there is no server for verification. This is also the reason why every decentralized cryptocurrency wallet has a private key. PASSCON cannot operate as a complete decentralized platform. So, the private chain takes charge of authentication and verification, and the public chain becomes a platform for sharing authentication information. This is called a hybrid chain.

The reason this concept is innovative is that authentication information can be shared in the public chain. It is also compatible with all mainnet blockchain networks that support smart contracts. In other words, IDall is a multi-blockchain platform. Nevertheless, we don’t need to create a mainnet. As such, it is not necessary to develop a mainnet while using a multi-blockchain platform, thus saving a tremendous amount of money. Not only does it save money, but it is also very beneficial to spread the ecosystem. It is also a tremendous benefit that there is no fear of being hacked because the password disappears and the authentication information is not stored or stored by WEB / APP. IDall’s one ID all Pass platform is innovation itself.

Daisy ( host):

Q6: You mentioned the ecosystem, how does IDall’s ecosystem work?

Lim Yong-hoon(IDALL founder):

On the IDall platform, users can log in to the desired WEB / APP with only one ID and one PASSCON authentication key and use a wallet to pay with cryptocurrency. The reason why this process can be made and spread naturally can be explained more easily than you think. First, consider the social login that we have used a lot. It quickly spread because of its ease of use. And since all SNS services use passwords, there is always concern that the account will not be hacked.

However, the IDall platform is easy to use, but it can eliminate hacking worries. Naturally, users are bound to like it. So why do web / app services participate? First, there is no concern about security. Second, it can increase sales by attracting more customers. Third, targeted advertising can be made inexpensive. Additional reward benefits increase for users. In other words, users can easily pay and shop with cryptocurrency. This is because shopping malls come in the IDall app in advance. Naturally, payback rewards are provided. When a shopping mall advertises, it generates advertising revenue, which can be distributed. Eventually, shopping malls and consumers will be able to operate an ecosystem circulation that solves everything in the app with IDall one ID and token payment.

Daisy ( host):

Q7: Do you think the wallet is the most important thing for the development of the blockchain industry? Please explain why.

Lim Yong-hoon(IDALL founder):

Yes i think so. The reason is simple. Blockchain mainnet technology has already been sufficiently verified. Bitcoin and Ethereum proved this. However, there are not many examples where Bitcoin and Ethereum are used in real life. Blockchain technology has been proven, but why does this happen? It is because of Wallet. A fully decentralized cryptocurrency wallet is too difficult for the average consumer to use. You have to keep the security of your private keys and manage the mnemonics well, and these are very unfamiliar requirements. No one can create a service that connects to payments with a fully decentralized wallet. Because there are no intermediaries.

So there are many centralized wallets. However, these centralized wallets are exposed to security problems as many cryptocurrency exchanges have been hacked. In the centralized wallet, the service provider acts as the central trusting agency. However, it is necessary to maintain security only with a password, and it is not possible to gain consumer’s trust in a situation in which continuous hacking occurs. Therefore, we need a wallet that removes passwords and is very convenient and secure. The wallet application to be installed in the IDall app solves the above two problems simultaneously. Remove password by applying PASSCON. It’s easy. It is safe. And users no longer need to manage mnemonics. It will be a wallet that is easier to use than credit card payment or fiat payment.

Daisy ( host):

Q8: You have a very attractive ecosystem design and technology. But isn’t marketing the key to success?

Lim Yong-hoon(IDALL founder):

Naturally, marketing is important. Moreover, it is essential to have a very wide range of users. This is also a difficult task for all blockchain ecosystems to pass. Fortunately, however, we have the answer. The first reason to install Password Manager Service in IDall is to gather real users who will participate in the initial ecosystem. In this market, competitors are already generating $ 200 million in annual revenue for 200 million downloads. In the Password Manager Service market, we have a competitive edge. It is a convenient and safe service based on the price of only 1/12 and PASSCON.

And it is a strong community. Our community is booming and has high loyalty and support. I hope you visit and join our community @idalluser This means that everyone agrees that they should solve the password problem. And it means that the IDall project is confident that it can be realized step by step. If IDall service will launch wallet and one ID service after Password Manager Service, we do not doubt that our community will become a mass user group. In addition, we expect synergies to sell PASSCON security solutions to the B2B market based on many users.

Daisy ( host):

Q9: A big difference of IDALL is that it already has a working product before listed on exchange. Why you guys choose to have a product first before listing on exchange?

Lim Yong-hoon(IDALL founder):

The reason is simple. It was to show the definite results to investors and markets. That’s because we think it’s the surest way to gain trust from the market. In the early days of the cryptocurrency market, large amounts of money could be secured with only white paper. And most of them failed development. In addition, in many cases, the price of Bitcoin fell, leading to a shortage of development funds. In fact, no one believes in security solutions based on theory alone. This is because hacking technology has developed. Eventually, we completed the development and became a project with results that could be shown. I’m sure IDall is a project that can show empirical results.

The answer to this question is very simple. Haha

Daisy ( host):

Q10: Could you tell us about issuing and distributing tokens and future strategies?

Lim Yong-hoon(IDALL founder):

IDall tokens are ERC20 with 1 billion issued. It will be distributed 20 million or 2% out of 1 billion, including the amount listed on this Hotbit. In other words, issued tokens will be distributed in a strictly controlled range to maintain prices. In the long term, we will also collect and burn tokens. Funds to buy back tokens are of course raised by the generated revenue. We believe the day will soon come when we can sell PASSCON solutions to the B2B market. If enough profits are generated, we will buy back and burn a portion of the market, as well as the remaining tokens.

Then you might be wondering why you have issued 1 billion from the beginning. It is to realize the real-life ecosystem in which IDall tokens are used for payment services. If this is achieved, the amount used for payment remains in the consumer’s wallet and does not appear on the exchange, which is rather advantageous for the token price. If the issued quantity is too small and the price is too high, it is difficult to use for payment service. That’s why 1 billion was issued to prepare the supply to be used for payment. The contract has been programmed so that further issuance of tokens is not possible.

Another feature is a large number of airdrops in the token distribution. This is used for promotion for app download. The distributed airdrop tokens are burned when collected at the app usage fee. Airdrop for promoting app downloads is a very small amount of tokens for each individual, making it difficult to sell in the market. The wallet function of the IDall app is activated and the tokens are burned after being paid for

Daisy ( host):

Q11.Hotbit will openIDALL trading tomorrow, and we saw the IDALL community is very excited and looking forward to this cooperation. Do you have any good news to share with the community?

Lim Yong-hoon(IDALL founder):

It’s a great pleasure to list IDall on Hotbit. This is our first global exchange listing. Also, we do not have an ICO or IEO, so we have to secure many holders. As it starts with a small amount of distribution, the expectation for a price increase is also high.

Nevertheless, we have prepared various services to provide Hotbit members with more services than simple expectations.
Listing and trading start at 16:00 (UTC + 8) on April 29th.

We provide staking service for IDall tokens.
Purchase Period is available for 7 days.
The interest period is 60 days.
The annual rate is 54.75%.
This is a recommended method if you agree with the future vision of our IDall project.

And a trading competition event is also held. The total prize money of $ 5,000 will be paid according to the ranking of the trading king. Due to the small volume of listings, it will be easy to enter the high trading volume ranking.

Since yesterday, an airdrop event was held through a Hotbit tweet. Maybe it’s the deadline now. There will be additional airdrops soon, so don’t let go.

And we plan to list it on other global exchanges within a month. Our plan is to list tokens on many exchanges with small volumes and strengthen relationships with holders and communities. So you can see the future of IDall brightly.

I did a really glorious AMA. I greatly appreciate all the members of the Hotbit community who have listened so far. And I sincerely hope that it has been informative. If you have any questions, please feel free to visit our @idalluser community and ask my CM or me. We, IDall, promise to grow and develop greatly through meeting and cooperation with Hotbit. Thank you. May everyone be happy in a passwordless world. Please stay tuned for Hotbit and IDALL, as well as staying tuned for our listing and Staking activities.

#IDall #Password #Blockchain #Passwordless #PASSCON #DecentralizedID #DID #oneID


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