The Ask-me-anything session with IDALL founder, Yong-hoon Lim was conducted on May 07th, 2020 on Coinkeeper’s official telegram community.
Yong-hoon Lim is the founder of the IDall project. He studied statistics in college and have experience modeling the credit scoring system in the Credit Bureau.
The credit scoring system is a statistical model that calculates an individual’s credit using big data and is an application that provides credit score information to all financial institutions. This experience allowed him to design very sophisticated algorithms.
Quoted from his introductory speech, he said:
“I also thought protecting privacy would always require advanced solutions to combat cybercrime while dealing with sensitive credit information. I believe that this experience led me to develop the PASSCON security technology and start the IDall project.”
Where the product name “IDall” came from and what it stand for
Some people misunderstand IDall as an IDOL K-POP star. It has nothing to do with K-POP stars.
IDall is a combination of ID and all. ID stands for Identity and is used when we log in to the web or app service. Therefore, IDall implies that we will innovate all of our ID-related services.
What do we want to do with ID? Once we have too many IDs. We can’t even remember them. And we have so many passwords that we always have to submit along with the ID so we can’t even remember it. Naturally, we are always threatened by cybercrime.
To solve these problems, we launched the IDall project with the slogan “one ID all Pass”. If there is only one ID, we will not forget it. And everyone will be able to focus more on their efforts to maintain security. What’s more, if we provide innovative security technologies that can remove passwords, “one ID all PASS” is not a slogan of hope, but a result that can be achieved. Fortunately, we have a password replacement technology called PASSCON. The IDall project could start because we have our own security technology.
There have been many hacking incidents, What makes you think that using IDall is safe and without risks?
What is Passcon? Why did IDall develop Passcon? What are the highlights of Passcon?
Take a look at the picture above showing the specialty of PASSCON. There are pictures on the left and icons on the right. The screen in the center is PASSCON’s unique authentication dashboard. Of course, you may be wondering what is special because it is a screen composed of patterns, icons, and PINs that you have always used.
The most important thing in the PASSCON dashboard is that the keyboard is gone.
Passwords never prevent hacking. Therefore, we must use a different authentication factor than the password.
In other words, we developed PASSCON to get rid of the password. And the IDall ecosystem’s service is to remove the password and use PASSCON to provide a safer and more convenient service.
All online financial services, cryptocurrency exchanges, and cryptocurrency wallets in the world also use passwords. Our IDall has a very special and unique competitive power called “Passwordless”.
You may have one more question. Isn’t PASSCON’s pattern, PIN, and Icon the same as password in that users should remember and keep secret?
In IDall, even if there is only one ID, it is correct to remember one pattern or PIN. However, these are not the values entered by the keyboard. And even if I tell a third party my pattern or PIN, that third party can’t exploit my ID. This is why PASSCON is “Passwordless”. The reason this special feature is possible is because of the photos. Users can select any photo from the gallery. And this only needs to be done once. Then PASSCON generates a natural random number and applies it to all encryption and security. This is the key reason PASSCON can protect the user’s identity from almost all hacking attacks.
Can IDALL WALLET works offline?
IDall Wallet cannot be used offline. If the meaning of the question is to ask if it can be used in an offline store, then “Yes”. In other words, IDall Wallet can be used only when it is connected to the blockchain and IDall platform through the Internet and can be used either online or offline. Of course, not now. It means that it will be developed like that. When a store participates in our ecosystem, this is how users pay to the store in the IDall app.
PASSCON Dashboard uses PIN, PATTERN, & STORY. Is it possible to add other options in the future like fingerprint biometric & voice and facial recognition?
Of course yes. However, I would like to explain a little bit about biometric authentication.
First, we need to look at the principle of biometric authentication.
The declaration of the FIDO Association leading the world’s biometric standards is as follows: “The FIDO Alliance is an open industry association composed of mission-focused and focused standards that help lower our reliance on passwords around the world. Passwords persist despite the increasing consensus that usage would have to be reduced if not replaced . “
“If not replaced” is important here. This is evidence that most large companies like Google, Samsung, Apple and Facebook, members of FIDO, do not have the technology to completely replace their passwords.
The reason is simple. After storing biometric information on a smartphone, there is no need to use a password. However, the stored biometric information is erased or deteriorated or becomes a problem when purchasing a new smartphone. This is because the web / app does not know who the newly registered biometric information is. So, the user must re-enter and authenticate the password.
Therefore, the password still exists, and the hacker attacks the password, not the biometric information. “Passwordless” cannot be achieved by biometric authentication alone. However, users prefer biometric authentication. Because it is convenient. So, we will add biometric authentication to IDall. It provides a groundbreaking competitive edge with other services. This is because it is “Passwordless” biometric authentication.
How much would a service provider be able to save by dispensing with traditional access systems and using IDall innovative proposal?
In short, I can say that companies can save a tremendous amount of money. The reason is that first companies can eliminate secondary authentication methods such as OTP or SMS. PASSCON is a 4Factor authentication technology. Therefore, 2Factor authentication is unnecessary.
Second, there is no customer who gives up the login because they do not remember the password. This will significantly reduce marketing costs. Security crime costs are reduced. PASSCON does not prevent all security incidents. However, crime damage such as ID exploitation will be greatly reduced.
Which type of crypto wallets – a custodian or non-custodian wallet – is used by IDall?
Application is essential to use blockchain. It cannot be used with a simple web browser. Even those who know this are not very common. Not many people know why.
The reason is simple. This is because of the private key. We must have a private key to use blockchain services or cryptocurrencies. In other words, you can do anything with a private key. This is to tell you how important the security of the private key is.
If the wallet has this private key, it is a non-custodian wallet, and if the service provider’s server has it, it is a custodian wallet.
The former can also be called a decentralized wallet and the latter a centralized wallet. These two have their pros and cons, and I’ll omit them. Rather, I will tell you about IDall wallet. IDall wallet contains both features and can be applied differently depending on the user’s choice. Please see the diagram below to help understanding.
One of the biggest features of the IDall wallet is Passwordless. Most wallets encrypt your private key with a password you enter on the keyboard. However, IDall wallet encrypts the private key with a special key generated by PASSCON. Naturally, it is much safer and more convenient than a regular wallet. The encrypted private key is then stored in the wallet. Therefore, the IDall wallet is a non-custodian wallet.
But another special thing is about mnemonics. This is a user choice. If users are inconvenient and difficult to back up their private key or manage mnemonic, they can keep the encrypted private key on the IDall platform server.
This becomes a kind of custodian wallet. However, it is a user choice. So can I trust IDall’s Custody service? Questions will arise. Absolutely. We are confident that you can trust. This is because nobody can decrypt the private key encrypted with PASSCON. Only the owner himself can decrypt with PASSCON. This is also possible because it does not use a password.
What is unique about Idall wallet and why you should choose IDall Wallet as a place to store assets?
Both blockchain platforms aiming for disruptive innovation and cryptocurrencies pursuing a global convergence economy need wallets.
However, I think Wallet is the most backward of all modern application services. The most inconvenient, the most difficult and not the most, but quite dangerous.
To be a world-changing technology, it must be very easy for everyone to use. In other words, wallet is the biggest obstacle that blockchain and cryptocurrency are not spreading in real life.
If you create a new blockchain service, I would like to tell you to modify the wallet first for mass adoption.
Let’s go back to the main story and briefly explain the differentiated competitiveness of our IDall wallet.
The first IDall wallet does not use a password. Therefore, security vulnerabilities possessed by passwords are automatically eliminated.
Second, it is not a password, so it is easy to use. It is very secure with a 6-digit PIN without having to remember long and difficult strings.
Third, there is no need to manage mnemonics. IDall’s private key custody service is secure. This is because it is encrypted so that hackers, as well as the server’s top administrator, cannot decrypt it.
To explain this easily, the encryption algorithm used by the US Department of Defense is AES256, which uses a password. IDall works AES256 with PASSCON without password.
I think it was the answer to why we should use our IDall wallet. But there is one more important thing. IDall is a consumer wallet.
In other words, it is not a vault wallet that stores assets. We do not provide services to store customers’ financial assets. The IDall wallet that we want to provide is for consumers to deposit a certain amount of cryptocurrency and use it for consumption. We recommend using HW Wallet for very large personal assets.
How would Idall project offer a Blockchain Privacy Protection for users?
We are living in a time when privacy is very important. So how is blockchain related to privacy?
What is surprising is that the idea of blockchain contradicts privacy protection. Because the blockchain ledger is open and anyone who knows the address of the wallet can see the transaction. If you just store your personal information on the blockchain, it means anyone can see it.
We believe that an alternative to privacy protection is essential for blockchain to become a platform that is highly welcomed by the public. However, projects that provide a clear answer to this are rare.
Fortunately, our IDall project has a sophisticated solution to privacy protection. Once there is a PASSCON that prevents the user’s account, ID, wallet from being hacked. This plays a very important role in blocking illegal third party access. This is the most basic start for privacy protection.
A more innovative IDall feature is DID. DID is the decentralized ID. Furthermore, it is a decentralized Passwordless one ID.
There are currently centralized one ID service platforms. That’s what social logins like Facebook and Google do. These services are centralized platforms, so my personal information or Credential is not disclosed. Instead, Big Brother’s problems often arise.
IDall platform aims to implement DID based on Blockchain and provide authentication service to all APP / WEB services. As a result, it can be used as a more convenient and secure PASSCON than the existing social login service, cryptocurrency wallet is provided at the same time, and it also has the advantage of being connected to the blockchain service.
So far, it is about authentication security to access the service. This alone shows a special distinction, but a bigger advantage is privacy. If you think about social login, you can see that the user’s personal information is frequently provided to other services to which it is connected. We cannot monitor and control the behavior of SNS service providers.
However, in the IDall DID, the user can optionally specify the information to provide. This is because personal information such as name, address, and phone number are all stored only in wallets. And the user can decide whether to offer. This is called the user’s sovereignty. IDall is a blockchain service that can sufficiently protect the privacy of users.
Adoption is one of the important factors that all sustainable blockchain projects should focus to be more attractive in the invertors’ eyes.
What have Idall done and plan to do to achieve Adoption in the reality, real use cases, in our real society.?
No matter how good the technology is, it must be applied to actual application services, and there must be a lot of people using the service. Numerous blockchain projects are failing this.
I think another reason for failing mass adoption is to start a project in a theoretical white paper that has not been developed.
If you do ICO or IEO first and start developing technology, the foundation will have to spend more money on token marketing than development.
Eventually, development will fail or there will be no service marketing capital to increase actual users. Our IDall project has completed the development of core technologies and has been applied to the IDall app and released. You can still search, download, install, and use IDall from the App Store.
However, our IDall app is not yet fully developed. Wallet function and DID function should be added. Nevertheless, we already have a core service that will continue to increase the number of users, even real users. That is the “Password manager Service”.
This is a temporary use as all passwords cannot be removed immediately. Many competitors offer similar services and dominate the market, with a very high fee of over $ 12 a year. It is a market with almost 200 million downloads, mainly in developed countries.
I will apply IDall tokens to this service to make the usage fee almost free. And it will increase users quickly.
They will know the distinctive features of PASSCON. When ordinary individual users become familiar with PASSCON and have confidence, we can enter the B2B market. And when financial institutions or fintech service companies start purchasing PASSCON solutions, the number of people using the IDall app will grow even more quickly.
So, I am sure that the actual application of our technology and services will soon spread.
In future, will people migrate from normal password to use Passwordless security?
Yes of course I am sure. This is because there is no way to keep the security because the password can only be entered using the keyboard and hundreds of billions of keyboards are already in use.
Not only that, It is said that one million passwords can be purchased for $ 1000 on the Dark Web. We are no longer able to change passwords. This also means that a technology that can replace passwords will surely succeed.
b)Knowing how fragile the market is and that a debacle can fall as in the past months, losing the reliability of investing in crypto, what reliability does IDALL offer us to invest in it?
I think trust can be determined by the maturity of the project. And it is also important to communicate the completeness to the public.
I think that our project has completed the PASSCON technology and the distribution of the IDall app to the market is proof that we will carry out the project to the end.
This is what we can offer investors. We have not done an ICO or IEO yet, so of course we can do it anytime. This means that we have the conditions to do our project better and there are still many options available.
Therefore, our IDall project will never be disappointed if you believe and support it to the end.
The Requirements and ROI for staking option with IDall
On April 29, IDall tokens were listed on the global exchange Hotbit for the first time.
The staking service is designed to provide 0.15% interest per day for a 60-day lockout. The recruitment period has already ended.
Instead, a trading competition event is still ongoing. If you purchase only 1000 tokens, you can participate in the competition and total 300,000 IDall Prizes.
This is an event that you can receive by simply participating. Don’t miss a good opportunity
And on May 14th it will be listed on other global exchanges Bitribe. Here, instead of the staking service, an event that is paid every day is scheduled. Faster and bigger rewards will be provided. The starting price of Bitribe will be set according to Hotbit’s price.
Therefore, there is no risk from the listing starting price reflecting the bubbles. Both Hotbit and Bitribe will be good exchanges for investing in IDall.
IDall’s marketing strategy to help grow the ecosystem
Let me tell you about the growth of the ecosystem. The IDall ecosystem contains essential mechanisms. It has access control technology, easy wallet, shopping mall connected to one ID (DID), and IDall token. This means that the token has all the environments that can be used in real life.
It is also an ecosystem where consumers and shops can both benefit and reward. Shops like shopping malls no longer must worry about the customer’s identity being hacked. Security costs are reduced. New customers meet customers and make more money. A wide range of intangible and tangible product sellers can sell products and services to customers worldwide.
In addition, consumers can receive payback rewards when paying with tokens. If consumers allow ads in the IDall app, they can receive advertising revenue. All of this is done with IDall tokens, and if the price of the token goes up, the consumer can get a bigger benefit.
I think the more important thing here is the community. No matter how good the service is, it is difficult to spread without support through the community. So we are devoted to building and strengthening and expanding the community. We have already built over 11 local communities and are constantly growing. We are confident that as IDall’s services continue to add, they will grow faster and larger, and eventually the ecosystem will grow.
”TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS. Do you have any plan about TOKEN BURN?
Since we have not done any ICO or IEO, we can easily adjust the token’s circulation. Also, if prices are not maintained, no one will invest, so of course we will defend against price declines. If we had an ICO or IEO, price defense would be impossible.
The market supply is 25% of the total 1 billion issued, which will be supplied very slowly in sequence. Team rewards are paid in installments each year after one year has passed, so there is little impact on market circulation. There are also plans for burning tokens. As shown in the diagram above, there are 25% of airdrops, which will be mostly used for app download promotions in very small amounts. And if it is paid as an app fee, it will burn it all. Therefore, 25% of this airdrop does not affect the market.
We will also buy back and burn using the generated revenue.
How do you fund this project, and what assurance are you giving to the people concerning the future of this project?
Our revenue model is diverse and very definitive. First, we will be able to sell PASSCON solutions to many places such as financial institutions, fintech service companies, governments, public institutions, educational institutions, medical institutions, SNS companies, and coin exchanges. We plan to purchase and burn tokens with the revenue generated from it.
It’s right that you need money for all of this. For the time being, we will continue to list tokens on many exchanges and sell them at a price-defensive level. And we will do IEO on top global exchanges and secure enough capital. The reason for this is to ensure success by establishing market trust with empirical technology, products, and services, and then doing IEO.
For more information and questions, please visit our IDall community ( @idalluser ) or PM. Well organized articles are always available on our IDall