Validation with the IAME
How does validation function with IAME’s system?
Since we announced our project of developing a decentralised fragmented identification system, there has been much interest in what the technology is all about. We’ve been asked questions about how the tech would work and look to all parties engaging in the transaction. We are happy to announce that we have two prototypes up and running – one for identity validation and one for identification. You can personally engage them and see how both function by visiting the identification prototype and the validation prototype.
In this blog, we run through how the IAME based validation functions from the perspective of a third-party validator.
What is DFI in the context of identity validation?
In our previous blogs, we’ve already spoken about how decentralised fragmented identification is the method that IAME’s identification system leverages to reinvent the entire blockchain identification process. With DFI, the data shared in these transactions is rendered worthless, given that it is first fragmented and then distributed among a series of independent third-parties – These third-parties are not affiliated to any parties operating as members of the transaction.
It’s important to point out that this network of third-party validators was built on the notion and rationale that an identification validation conducted by a network of third-party validators is far more dependable and less susceptible to the risk of fraud than an identification validation conducted by a single institution or party.
Once a user attempts to fragment and verify their identity, this fragmented data components result in a prompt being sent to the validator platform where predetermined validators are ready to take on the task. The system encompasses a for-profit approach, which means that validators are rewarded for their contributions. Many people we spoke to had questions about validators potentially manipulating the system to for their financial benefit – don’t worry! The IAME team has a fix for this.
To counteract the risk of third-party validators attempting to “game the system”, given that it runs on a for-profit basis where third-parties are paid to validate information, the IAME identification network deploys a symmetric game model that uses a method of “tribunal validation”, where consensus determines validation – secondary tribunals come into play in the event that a consensus is not initially reached and an appeal is required. No single party, therefore, has control over the identity validation process. Therefore, you can rest assured knowing that the unaffiliated validators of your identity are not only motivated but checked by our intelligent validation model.
If you missed our previous blog and would like to know how the identification process works, click here.
If you would like to know more, please visit our Website and read our White Paper. Any feedback, comments, or questions can be asked directly to our team by visiting our Telegram Channel. For updates on IAME, you can follow us on Linkedin, Facebook or Twitter. Stay tuned to our blog series, for more of the latest news in the crypto and blockchain realms.