Safein ICO review| Safein is a decentralized blockchain-based ident...

Simplifying online communication because the better, for each customers yet merchants.

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Executive summary about Safein project

Online identification management nowadays bears large then ever-increasing respect in imitation of each individuals yet businesses. Consumption of applications online, ranging beyond informal shopping, to content material streaming, according to digital banking, has emerge as and vast as much after keep regarded the norm. Fragmentation concerning the online identity, i.e. lack about a normal user identification tier of the Internet, has constructed gaps yet inefficiencies of the techniques regarding customers setting up theirs genuine identification then distribution personal information together with businesses. Such inefficiencies are extensive and Palmyra throughout definitely every industries to that amount are present online.

Signing up for and signing in to most online services are one side of the status quo of the digital identity: mandatory registrations on each and every website visited, excessive mining of personal data, let alone the same slow and redundant identity verification procedures for regulated services. The processes that run in the background are the other, more obscure and worrisome side of the online identity: infringements of data protection legislation, absence of responsible personal data collection and storage practices, and disregard for cybersecurity by service providers in general, all are prevalent today across the web. Ripe for improvement are not only the outdated ways of transferring personal data between users and service providers, but also the concept of online identity itself – a critical component of the modern web that is lagging behind every other part of the online experience. However, to this day online identity management remains an underdeveloped sphere bound to change

Safein addresses all of the issues above with a decentralized identity management platform that provides a complete KYC solution for businesses and a universal verified account for users. Blockchain technology enables trustless and secure exchange of data, paving the way for a universal identity layer online, and Safein utilizes these benefits to improve efficiency and transparency of data sharing between parties online. As an identity management platform, Safein allows a user to gain access to multiple online service providers without repeating registration and verification procedures. With Safein, users can easily verify their true identities and access any online service provider instantly. The decentralized nature of the platform permits the user to always remain in full control of one’s data, both in terms of its storage and sharing preferences, eliminating the risk of data breaches due to third-party risk. For businesses, reusable user KYC, accompanied with machine learning and AI technologies used for verifying documents, allow dramatic cost-cutting in terms of user onboarding, as well as improved conversions due to reduced friction during signup.

Building a universal gateway for online service providers requires scale and wide product adoption. Safein growth strategy is primarily focused on first introducing the platform to the blockchain industry in which initial scaling will be swift because of user familiarity and interest in crypto-based services. In order to capture this market, users and businesses will be provided with highly appealing incentivization schemes to join the Safein ecosystem. Registration and referral programs that have historically proven to be successful will be employed on a large scale and will drive word-of-mouth, enabling further rapid scale of user onboarding. Meanwhile, providing extremely cost-efficient (and possibly free) KYC services to businesses will help us to not only generate revenue within a short time span, but also to build a strong presence among new blockchain projects that currently face disproportionate costs of user verification. Following expansion in the crypto-asset sphere, user and online service provider growth will create synergies with other markets where identity management prevails as an important yet inefficient aspect of conducting business, such as cryptocurrency exchanges, car sharing and rental services, as well as banks and other regulated financial institutions. The demand for business KYC services and instant service accessibility to users will gradually drive demand for Safein to be implemented.

Safein team, advisory board and strategic partners altogether cover a broad range of fields of expertise. The core team has known each other for over 10 years and worked together on multiple projects, successfully exiting fast growing esports and online games companies. Our advisory board, specialized in legal and technology fields, will help us bring a well-rounded product to the market, whereas our partnerships will ensure Safein reaches the right audiences from the start. The vision of Safein has already matured into a working alpha product. Users can use our web dashboard and mobile app, get their ID verified free of charge, and use our SSO service to login into a partner website without creating an additional account. Beyond further development of the platform itself, our team is actively engaged in networking with potential investors and developing partnerships for business and product development.

The Online Experience, Identity & Safein

Internet users have a strong preference for single sign-on (SSO) solutions like Facebook, Twitter or Google. Some 88% of all online customers use these gateways at least occasionally to sign into websites they visit. Facebook, Twitter and Google, however, all share their inability to grant the user an account that contains verified identity information, address or other personal data. This significantly limits the applicability of these SSO solutions and value they add to user actions online. At the same time, businesses that require verified user information or personal data such as home address for user onboarding, do not have an all-encompassing solution for it. Current measures of collecting, processing and storing user data, as evidence shows, are not only resource-demanding, but also inefficient and insecure. We believe that technologies used by businesses to verify users are outdated, and outdated technology is to blame for almost all of these problems. As such, it is about time to fix this by embracing a modern way of managing your online identity.

The Safein team has set out to develop an identity management platform based on blockchain technology that provides a two-way solution for identity verification and personal data sharing between users and service providers. For users, Safein is the universal SSO account for accessing any service online, whether an e-commerce store or a licensed financial institution. With our identity platform, we are also ambitious to finally enable users to properly secure their personal data used for online commerce activities, and to access websites anonymously whenever circumstances do not require providing personal data. For businesses, Safein will provide a complete suite of KYC services based on a REST API for user onboarding, as well as secure user information management and storage services.

Our two-sided answer goals in conformity with develop the adoption of Identity 2.0, eradicating the traditional, then obsolete, way about developing recent accounts because each and every website we visit. Our group strongly believes as improved accessibility in accordance with on line services, arbitrary about bond varieties and delays in imitation of get verified, desire definitely propulsion in conformity with greater competition, expanded conversion rates and higher e-commerce altogether. In tandem, groups wish benefit out of a sizeable reduce in their prices concerning user onboarding then KYC, regulatory compliance, information protection, cyber security, as properly as discount among need because of vast piece on consumer guide dealing with potty things like password recovery.

Safein Solutions (Businesses and Users)

Businesses receive a complete KYC solution

Forget hiring staff, training costs, seeking legal advice, setting up IT infrastructure and dealing with fraudulent users. Safein will provide a quick and simple to integrate solution for all your KYC issues. Onboarding new users has never been cheaper.

Users get access to websites with a single click

Safein allows users to sign up and log in to new websites with one click. Forget tedious registrations and lost passwords. You will get instant access to any services online

Users control their data

With Safein, you’re always in control of what websites know about you. You can login online anonymously, or only share data the website really needs. On our web panel and mobile app, you’ll see your entire activity history,