PHOTOCHAIN

PHOTOCHAIN

Today blockchain technology is enabling a global network of people to perform transactions of various kinds, peer to peer, without the need for a central governing authority.  These new innovations allow people to verify these transactions safely and securely at any time.

Using Ethereum blockchain Smart Contracts, people are able to make digital agreements circumventing the need for a third party.  Both parties must comply with the conditions of the contract which can be easily verified on the blockchain.  Being decentralized, tampering is prevented.

Photochain is a peer to peer platform, releasing new concepts for a next generation stock photography platform.  Photochain will be a vehicle for fair trading of digital works between artists and buyers.

TEAM

Conclusion

The biggest source of security risk to persons identifying themselves is through the sharing their personal data with counterparties. Encryption and conventional security measures can work only to the extent that counterparties that handle the information are secure. However, in an economy where the number of electronic transactions a person conducts is constantly increasing, the number of points of potential vulnerabilities increase exponentially, decreasing any advantage gained from security innovations.

Using the proposed IAME Identification Network laid out in this white paper, we seek to resolve the problem parties face in blockchain transactions by having to identify themselves with a multitude of counterparties, while both preserving the anonymity of the transacting party, and satisfying the need for counterparties to conduct a certain level due diligence on clients.

There is both a practical imperative and commercial need for a non-invasive identification system for decentralised blockchain technology and we believe that the IAME Identification Network will be the bridge that will link blockchain technology to the regulated world.

A Platform for Financial Institutions

As the regulatory classification of Cryptocurrencies converges towards currencies, securities, and/or software, there will be a need for some form of anti-money laundering procedures to be applied, which can trace the source of the Cryptocurrencies - up to a level that can ascertain that they are not from the proceeds of criminal activities. The use of public ledgers, though being able to create an electronic trail up to the mining/creation of Cryptocurrencies, does not identify the transitory wallets through which the Cryptocurrencies have been.

As an extension of the IAME Network and its public repository, the identification system would be used in the construction of identified topological spaces that would provide financial institutions with the tools to identify, to the nth degree, the origin of the Cryptocurrencies they are handling.

A few words about tokens:
To manage the platform, IAM tokens will be issued that act as a verification token to initiate a confirmation request for the validation package on the IAME Identity Network. The parties will spend the tokens through a special client, and after deduction equals the cost of the lifting of the block, the token amount will be paid as a reward for third-party validators.
The date for the beginning of the ICO project has not been determined, it is known that the minimum cost goal is $ 1 million, and the maximum is $ 25 million


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