ICO launch. Product launch.
Technically: validate that the owner of
an Ethereum wallet has passed an ID
background check stating that they are
not part of a restricted set of users (e.g. US
citizen or individuals on official watchlists).
The background check is run via a third
party, namely Onfido. The ICO Pass team
has set up a smart contract system to
record the outcome of the background
check on the public Ethereum blockchain,
i.e. whitelist Ethereum addresses that are
owned by non-restricted users.
Legal point of view: doublecheck with
all the regulators in different countries
how to even more effectively meet their
Business: attract first ICOs from Europe.
New databases are added for higher
Video identification with live agents added.
ICO organizer communication tool added
for contacting ICO contributors.
Integration with US State Revenue
Service or Banks to automatically
determine if the investor is accredited.
First US based ICO.
Integration finished with Banks who in
EU are providing their APIs under PSD2
regulation. Automatically determines if
the person is accredited investor.
Interest payout functionality in app.