This is an interim report between the quarterly status reports and yearly letter to the community.
Reminder: Our goal for 2020/21 is to become the de-facto open-source standard for gas-free and gatekeeper-free DIDs and personas on the blockchain.
GDPR is not enough: We are doing identity the right way.
We are making your data private again and help you avoiding #deplatforming, fighting fake news, bringing back authority from central vessels like corporations or governments right into the people's hands.
Dear Internet of People,
It has been a productive start to 2020 for the IOP project. We are through the middle of the first quarter and ready to make proper estimations and more accountable predictions.
We are partly ahead of our schedule and I am proud how the team is progressing in big steps towards a usable product.
The biggest challenges have been solved: we have implemented the cryptographic fundaments of DIDs; the porting of on-chain-DIDs to the latest blockchain-version 2.6 is on the way.
This gives us all the goodies like Schnorr Signatures, Smart Transactions (who needs Turing-complete overblown smart contracts on-chain?), etc.
It should take us just a few more weeks and then we can start implementing our first use-cases on-chain (“our products”) that build upon our DID implementation. We are aiming to release a working client using the latest DID implementation very soon. I will write more about this very important milestone once we are there. Keep an eye open for this news!
Our limited weekly dutch auction of Hydra tokens inside of the community is running better than expected. By this, we generate a source of income for development that lowers our burn rate and spreads the distribution of tokens far more decentralized than we could achieve in a single IEO (which enforces KYC).
In this way, the community can slowly accumulate utility tokens while we progress with our development and prepare to utilize the tokens for later use cases around the creating, maintaining and verifying of decentralized identities. Please, go to our beloved long-standing partner, Simpleswap, to have a convenient and anonymous way to get your hands on a limited amount of Hydra Tokens from the IOP project. Click here and you get directly to the anonymous token auction to support our project.
By this method, we eliminate crazy speculation and have the development supported by our community and both run more in sync. I think this is a quite unique approach (like many other things in the IOP project).
We still stick to our word: We deliver first, we build the platform first, a usable dApp on top, and raise money later. We are not intending to go the normal IEO way. We don't fill our pockets and then guess where to start. We ask our community to help us along the way we are progressing and make them part of this exciting journey.
In January we raised the bottom auction price from 2 to 3 cents. This gives those, that were part of IOP since the early (critical) days a compensation advantage to those, that tend to wait and hang out at the finish line and grab the winner: It is easy to bet on a winning horse, and especially in the crypto winter so much more difficult to stick with the project you favor most but that is clearly not hyped or overfunded.
After many positive responses from the community, I am considering to take this even one step further and raise the bottom to 4 cents. Of course, only after we published our first usable app; At this point, this 4 cents price point, is just loud thinking from our part - please join the discussion and let us know your opinion in the comments and social media streams - we listen to our community.
In the past 7 weeks, we
- created several KYC processes for different use-cases (like KYC for Banks or Proof-of-Age for shopping)
- added basic right management and tombstoning to DID Documents (we are moving from pure Web of Trust towards a decentralized trustless Active Directory)
- created a Rust backend to handle cryptography and data for DID documents and verifiable claims and a C API to be usable from most other languages
- created multiplatform Flutter/Dart UI apps aiming mobiles and tablets on top of the Rust backend for demonstrating a KYC-like workflow with end-users and witnesses/authorities, while the inspector app is still to be done
- published some codebases on public GitHub
- updated the explorer’s code to the latest
- created the UI (flutter) part of the KYC Proof-of-Concept
- updated our specification(s) and process diagrams
- implemented a BIP-39-slip solution in Rust (please check our GitHub)
- signed the first exchange listing agreement (we are not publishing who and when at this point, due to fairness and legal reasons) - we are closing more partnerships in the background with other businesses once our dApp enabling ecosystem is ready
- closed a contract with our partner, vendible.org. Vendible is building a payment gateway for online shops bridging FIAT and crypto with bank accounts. We are very excited to provide them our DID solution and help them in implementing it.
- If you are interested implementing DIDs into your product, then feel free to contact us through the obvious channels.
- started the active collaboration with Vendible.org - our partner and client - implementing a DID-based payment gateway for online shops with crypto and fiat and complete KYC of the future
- Extending partnership with coinomi.com - their CEO, George Kimionis understood very early how important the whole DID thing is becoming in the future. In fact he had already ten years ago an ID startup, but was driven out of market by facebook. Coinomi wallet is the one-stop solution for all your crypto needs - a real blast!
- upgrading devnet to 2.6, then porting our own modifications
- updating the blockchain explorer once again (to latest and greatest 2.6)
- updating the deploy tools for the new hydra code, then deploy them to devnet 2.6
- extending the current DID rights management with custom rights in pair programming sessions
- creating the UI for the “masking out data” feature for the user in our dApp
- creating an inspector agent for this feature
- building a demo dApp with a complete KYC workflow and DID on-chain in devnet
- starting on the DID integration into Vendible's payment gateway
- Integrating native Hydra wallet in the Coinomi wallet
To make it short
If things don't go awfully wrong, the next quarterly status report in around 5 weeks I can present you a working dApp with DIDs running on the Hydra-core platform.
Finally we are there, where we always wanted to be.
Well, first I am going to use that milestone to explain more in-depth about all the DID possibilities. This makes it easier for you to grasp the near months’ scope of our project and attract more support from outside. Yeah, and it will make you proud, as well.
From there, we are switching our focus to attract more publicity, finish our first dApp, establish partnerships, extend the ecosystem, attract investors and a bigger community and then switch to scaling up the project.
So let Attila (@wigy) present to the more tech-savy people here the current status of our flagship dApp Morpehus and a working KYC example. Please bear with us, this is a non-scripted presentation aimed to developers. Nothing fancy for the marketing delegation. We produce something better with the next Status Report.
In this example, presented by wigy, we proof to a business that we are indeed eligable for a ticket discount based on our location gathered from previously claimed and verified passport data. But the clou: we do it without revealing to the business our passport itself, or any other information from it. The business only needs to know, that it is true, that we are located in an area eligable for ticket discounts. I hope you understand the implication and impact on businesses with this new technology. It doesn't mean just a pletora of new features, but also this is truely ownership of your data and goes way beyond a GDPR law. Let's say it is GDPR 2.0 on steorids flipside down. Any company implemting IOP Dataprotection will have a such more credidibility than any government law could enforce at this time.
IOP means real data protection. IOP enforces data security. IOP enables data privacy. IOP flipsides the power and makes you an authority over the providers you choose to use. Everybody can become an authority. Everybody can have many personas but maintains one identity. Identities are bound to a crypto wallet. Life in the future will be easier and good.
IOP's future is bright. Because...
IOP is identity done right.
If you are interested in implementing data protection into your FinTech product and don't want to reinvent the wheel, you should probably talk to us.
You can reach out to us in the usual social channels, we are always happy to help and get you to the right place.
We do as we say.
See you in a bit,