AMA Recap NanoNews x Idall


Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Idall on April 3, 2020. This guest star is Founder Idall Yoonghon Lim. If you were unable to join the live AMA, no worries, here comes our 3rd AMA recap!

We are glad to meet here:
Yoonghon Lim, Founder Idall
For taking your time out from busy schedule for the AMA!

Introduction Segment

Q1: Can you introduce yourself to the community? What is your background and how did you build IDALL?

Hello, it is me. And nice to meet you. I am the IDall’s Founder Lim Yonghoon. Let me tell you a little bit about my history, experience, and background of the project’s birth.

I studied statistics at the university, and I have experience in modeling for the credit scoring system in the credit bureau company. The credit scoring system is a statistical model that calculates an individual’s credit score using big data and is also an application service that provides credit score information to all financial institutions.

This experience gave me the ability to design very sophisticated algorithms. Also, I thought that personal privacy is always in need of advanced solutions in cybersecurity, while dealing with sensitive credit information.

As I continued to worry about security, I was able to invent our innovative authentication technology called PASSCON. And the optimal mechanism for spreading this PASSCON technology to the world was found in blockchain and token economy. No matter how good technology cannot spread to the world, it makes no sense. The IDall project aims to make people live more conveniently and safely in the crypto ecosystem using PASSCON and blockchain technology.

Q2: Can you briefly describe what is IDALL?

Yes, I’ll introduce it simply. Whether we are using the internet or wallet, we always go through an authentication process that proves ourselves. This is the first gateway we go through equally with any service. And so far we all use passwords. Therefore, it is inconvenient and very insecure. In fact, many hacking accidents are very serious. Nevertheless, global companies have not yet solved this problem.

IDall is a platform that connects the Internet, blockchain, and cryptocurrency to each other. And the connection process is improved with our innovative security technology called PASSCON. Not only is this connection all possible with a single ID, but it can be used with only one PASSCON authentication key and is secure from hacking

IDall is also a crypto ecosystem that circulates through token economy. Users will receive rewards as well as easier and safer cyber lives by participating in the IDall ecosystem. The ecosystem creates added value, and the added value is shared by participants with various rewards. As the ecosystem grows, the value created and increased will be reflected in the token.

Q3: What technology stands behind and What are its advantages?

Core technologies that make up the platform of IDall are PASSCON security technology and blockchain smart contract. Of these two, smart contracts are a common technology. From the user’s perspective, this is just a mobile application, a wallet. And there are so many cryptocurrency wallets in the world already. What’s special about our technology is that it combines PASSCON into a wallet that sends and receives smart contracts.

The result is a platform that allows you to log in anywhere with a single ID at the same time as it is more convenient and secure than traditional wallets. This is an advance over the already known “Decentralized ID (DID)”. Because the word “one” was added. Each existing DID project uses its own mainnet. Therefore, users still need to manage multiple identities. However, we have neither a plan nor a reason to develop a mainnet. In order to attract more participants, we will make it compatible with as many different mainnets as possible. This is the same principle as using various coins and tokens in cryptocurrency wallets and does not require special skills.

There is one more word that needs to be added, which is “Passwordless”. This is of course possible thanks to PASSCON. Therefore, it is correct to describe the IDall platform as “Decentralized Passwordless one ID”. Therefore, the advantages of our unique technology and platform can be summarized as “Decentralization”, “One ID” and “Passwordless”.

Question Twitter

Q1: While I believe in @IDall2 ‘s PRINCIPLES such as a 1-ID log in on the internet, But I’ m also worried, What If my data is LEAKED Meaning, Will the websites or wallets/assets that I logged in will be LOST FOREVER? Please IDALL SECURITY explain.

Good question. We always must worry about personal information or accounts being hacked. What if my information is leaked? Moreover, what if we use only one ID?

But there is no need to worry. Our IDall platform rarely stores your personal information. Even if the login is a single ID, the user becomes a member of an app or web service that is actually used. And each web or app service will keep minimal personal information according to their policy. In addition, cryptocurrency assets are recorded on the blockchain, so there is no damage to assets due to the leakage of personal information. IDall uses one ID, but cryptocurrency assets are based on each private key, and multiple wallets are included in the app.

What’s more special is that third parties can’t hack PASSCON using my personal data. PASSCON is a security technology that prevents a third party from exploiting my ID even if a third party finds an authentication key such as a pattern or PIN. When a third party installs IDall on his or her device, tries to enter my ID and clicks login, it says that the device has no authentication information. And the screen to enter the authentication key itself does not load. This means that even if a third party knows my authentication key, they can’t do anything.

One more special thing is that if I give my smartphone to another person and tell him that my PIN is “111111”, that person cannot log in. Because there are 729 ways to input “111111” on the PASSCON screen. This security ability is the same for patterns, for example, because there are many ways to draw a triangle pattern.

Therefore, there is no need to worry about personal information being leaked and only one ID being abused and losing everything.

Q2: Can you describe in detail current development efforts? market expansion plans, expected applications, and when will they become commercially available?

To date, we have completed the development of PASSCON security technology. We are in the process of selling PASSCON to other financial institutions, fintech service companies or blockchain wallet service companies. Selling PASSCON solutions is a B2B business. Even now, we continue to offer solutions to various financial institutions and succeed in attracting great attention.

IDall is a B2C business, not a B2B. IDall platform is equipped with Password Manager Service function based on PASSCON technology. And the wallet service and the decentralized One ID service will be installed in this order. When the One ID service starts, users and shopping malls enter the IDall app. This will free up shopping and payments with our IDall tokens. This means that a true real-life crypto ecosystem begins on a global scale. It also means that a true crypto-fintech service will be launched, making it easy for anyone without a bank account to send and receive online e-commerce transactions and financial assets. This is because everything that is logged into the service and transmits and receives cryptocurrencies can be done very easily and securely in IDall platform and ecosystem with One ID and PASSCON.

IDall’s Password Manager Service has already launched a commercial service and has achieved over 60,000 downloads. Both Wallet and One ID will be developed and commercialized by this year and next year

Q3: Password is existing for many years. Use in computer, mobile etc. And now, IDALL want to make passwordless world using PASSCON. How do you think this will work if the old and new generation embrace the old method of using password?

That’s right. New Technology The more innovative technology, the harder it is to reach users. Users like what they are used to. It is called a habit. So, if it is like the existing method and is more convenient, it is easily accepted without resistance.

PASSCON says “Passwordless” doesn’t mean you just use it without anything. Also, removing a keyboard doesn’t require you to use something more difficult or never seen than a keyboard.

The interface of PASSCON is a pattern screen that has already been very familiar. The same goes for the PIN screen. Users can choose according to their taste.

“Passwordless” is a principle that works in security algorithms and users don’t need to know them in detail. It is natural to feel that it is more convenient than a keyboard. Therefore, I think it is important to convey information to users that it is “Passwordless” that the keyboard disappears. Even if I tell you my PIN, I think the experience that someone else can’t use my account will also significantly reduce the resistance to new technologies.

Q4: How’s IDall a decentralized passwordless, serves as a good alternative for preventing identity theft and cybercrime?

IDall is a groundbreaking platform for reducing all kinds of ID exploit crimes in the cyber world. We need to first understand the principles of cybercrime. It’s that criminals mostly do bad things for economic gain. What we do is a sharp increase in costs for hackers to attack. It makes it almost impossible or difficult to imagine. The hacker then attacks a very cheap target. In other words, simply using IDall can be excluded from hackers. This is because password hacking is hundreds of times easier than hacking PASSCON.

Let me explain why this is hundreds of times more difficult or almost impossible. PASSCON does not use a keyboard. Therefore, all the keyboard hacking techniques are useless. In other words, it’s like removing one very useful and important weapon a hacker has. PASSCON uses a personalized image-based interface instead of a keyboard. Each dashboard has 25 pointers, which match a pattern or PIN or icon. Also, each pointer has a different input value for each user. So even the same pattern screen works on different input interfaces for different users.

And PASSCON generates natural random numbers as photo files and applies them to encryption. In fact, a new encryption key is generated by mixing the values ​​entered in the personalization dashboard with the natural random numbers generated from the photo. And all of this is handled by mobile applications, so even the server’s super administrators don’t know these values. It is called zero knowledge proof technology.

As a result, hackers can’t find the user’s encryption key on the server, so hackers must target and attack the user in order to benefit. This can cost millions of dollars, and even if successful, hackers will likely get nothing.

Q5: The hardest thing about any business is not building a product. What is often the hardest is getting people to use product. How will Idall team resolve this to make your project become mass adoption and be more attractive in investor/traders eyes, not a theory on White Paper?

We believe that mass user acquisition is the key to project success. Fortunately, we have found a very valid target market. It is the Password Manager Service market. The market has generated approximately 200 million downloads and $ 200 million annually in a number of competitors in developed countries. However, they are still relying on security for their passwords, and because they are too expensive, they are no longer able to expand into the global market. We can provide almost free service by applying almost token economy, and we can provide stronger security and convenience at the same time with PASSCON, not password

The currently deployed IDall app includes these advantages, and we will start marketing the app in earnest by listing our token on the global coin exchange.

We are also pursuing partnerships with other app services with millions of downloads. We believe that this partnership will facilitate the swapping and sales of tokens and increase the number of users of IDall apps. Next week, we will be making a major announcement about it.

And in April, token listing on the global exchange will be completed. This is just the beginning. We will meet a lot of exchanges, list our tokens there and make our exchange customers meet with our technology and app services. Thus, we will make the customers of the exchange not only invest in the exchange, but to change to a better way to use the internet and blockchain and cryptocurrency.

Q6: For each project, community factors contribute to the project’s success. So, what strategies does IDall have to develop community and retain users in the long run?

I agree. The community is very important for the success of the project. Since it is a blockchain community, I don’t think it should consist of people who are only interested in return on investment. There are many other people in the community who are interested in new technologies, users as real customers using new services, people interested in airdrops, investors and professional traders. In my opinion, the success of a community strategy is to satisfy all of these diverse people.

We first want the community to be interested in and understand IDall’s services and technologies. Only communities that understand and love the project can support and support the project. If the community based on accurate understanding is strong and large, investors will trust our project and buy tokens.

Over the past two months, the telegram community has grown tremendously. A global group of over 10,000 members and eight individual country communities are developing together. Our community growth strategy is to engage more closely with members and strengthen their willingness to participate in projects through localization in each country.

In a way that makes it easy and quick for community members to understand and interest the IDall project, we conduct daily quiz events. Quiz is an easy and simple question, but by participating in a quiz event, members expand their knowledge and receive rewards. Our members are increasingly understanding and responding to IDall’s decentralized One ID ecosystem and PASSCON’s Passwordless. I think they are our valuable supporters.

Community members are also a very important customer group to participate in and support the platform in the future IDall ecosystem. Therefore, it is essential to continue to support and strengthen the support of members. Therefore, in the IDall ecosystem, a reward mechanism that allows users to receive differentiated and satisfactory rewards is applied to the ecosystem. Almost free app usage benefits, ad sharing benefits and payback rewards.

And the investor community is also very important. Participants who have invested in IDall projects should get more satisfactory results than other projects. The specific plan is that in the short term, our tokens will be listed on the global exchange soon and will meet many customers. And we will provide staking service. Therefore, the benefit will be provided to investors who hold for a long time. In addition, as the ecosystem grows, we will generate revenue in the B2C and B2B markets. And the revenue will be used to buy and burn tokens in the market. PASSCON security technology can make a huge profit in the IT security solution market. This will greatly enhance the future value of our project.

Q7: What are the great achievements that IDALL has achieved so far? What challenges are you looking forward to and what will you do to continue to maintain your position?

We spent six years completing the PASSCON technology. Not only time but also a lot of money was invested. Authentication security technology is not complete with simple or innovative ideas. It was a very difficult task to be able to neutralize many existing hacking tools and to provide users with a more convenient experience at the same time. However, we have succeeded, and it is a great achievement to be able to disclose it by applying it to the IDall app. If anyone can exploit my ID, you can try it. My ID is currently “id1” and I use “Story Icon Dashboard” and the authentication key is “1111”.

Our next challenge is to acquire the FIDO standard. The FIDO world standard provides standard qualification for all technologies that replace passwords as well as biometric authentication. The market challenge that threatens us is the vested interest that large corporations that lead the existing security industry do not want to open the market to us. However, if we acquire the FIDO standard, we expect global large companies to adopt our PASSCON technology. In addition, we are convinced that financial institutions and fintech service companies will be more and more focused on our PASSCON technology as the IDall ecosystem expands and many real users become safer and more convenient to use the internet and blockchain.

Therefore, the day will soon come when our IDall project as well as PASSCON technology will remove the password from the world and make a better world.

Live AMA Segment

Q1: How do businnes suply to our technology and solution to crypto independent industries?

Of course, we will do business to supply our technology and solutions to crypto-independent industries. Because it is a very high value-added market. There is no immediate business with the government. However, government agencies, public institutions, national defense, education, etc. all require security technology that can replace passwords. Therefore, we intend to cooperate with our partners or do business directly with the government.

Q2: Please tell us how and under what circumstances did the idea of a token? Do you have any buyback or burning program ?

Currently, IDall tokens are listed on small exchanges in Korea and cannot be used by foreigners. So very little fluidity is formed. Therefore, only a very small amount of tokens are supplied to the market. When listing on a global exchange this month, it is expected that a very large volume market will be formed.

And we are planning a very large amount of airdrops to download the app. Instead, most of these airdrops will be paid for using the app. This is because air drop will be provided as a condition of using the app. Then we can burn all paid tokens. And we will buy back tokens and burn them using our advertising service and PASSCON sales revenue. This will continue for years at an appropriate level.

Q3: Do you think in future normal password will be end and people will use Passwordless security?

Of course it is. FIDO is an alliance created by giant companies like Apple, Google, Samsung and Facebook. The goal is to reduce the use of passwords. I think this is a lack of confidence in removing the password. But in the end, getting rid of it rather than reducing it is a smarter and more obvious solution. FIDO’s biometric authentication standard cannot eliminate passwords. This is because biometric information is registered after authentication with a password. This is because FIDO decided not to store biometric information on the server. This is because of privacy protection. Therefore, FIDO has no choice but to adopt an authentication technology other than a password such as PASSCON.
This is because the problem of ID exploitation in cyber cannot be solved as long as the password is continuously used.

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