The concept of IDMONEY is based on the key 3 themes:- SOCIAL, PUBLIC and GLOBAL. Its mission is to create a governance model and a free wallet build on distributed blockchain topology, to empower citizens across the globe and enhance local development by embedding crypto with self-sovereign virtual identity.
A. SOCIAL supporting the 4 causes: -
- Cumulative efforts of many people working on the IDMoney App and other social platforms, leading to development of governance model and a free blockchain wallet
- Benefits available to local governments through the usage of the governance model while enabling empowerment of citizens along with their socio-economic development through blockchain wallet
- Building a sense of entrepreneurship among people by having a self-sovereign identity through the governance model
- The governance model is developed with the aim to distribute nearly 20% of the IDMoney's token value (i.e. around 7 million IDMoney (IDM) Tokens) to the ID wallets of people living in poverty
B. PUBLIC for 2 reasons: -
- The local governments by directly engaging with citizens will be the owners and implementers of the governance model and the free wallet based on blockchain technology
- The wallet would not only be a wallet to store cryptos, but fundamentally the 1st wallet designed to create wealth for their owners
C. GLOBAL for 2 reasons: -
- The new governance model and the blockchain based wallet will be developed with contributions and efforts from people and citizens around the world, thereby making it truly decentralized
- The goal is to set the foundations for facilitating the development of a wider global government community leading to emergence of a decentralized multi-governmental currency (on the lines of World Bank, however, acting in a decentralized way)
IDMONEY ECOSYSTEM FUNCTIONALITY
The Money Making Wallet unveiled by IDMoney will allow each participant of the IDMoney ecosystem to exercise their fundamental privilege of having a virtual personality by creating a self-sovereign identity on the IDMoney ecosystem.
The Money Making Wallet will ensure that it is compliant with EU GDPR law and other global laws applicable involving data protection of personal sensitive information.
IDMONEY TOKENS (IDM)
The IDMONEY TOKENS (Symbol: IDM) will be hosted on the Ethereum blockchain network; the IDM tokens are ERC-20 compliant. The total supply of IDM Tokens is capped at 35 million tokens.
The ICO price of IDM Token is fixed at 1 IDM = 0.00075 ETH
The company (IDMoney Corporation) issuing the IDM Tokens is incorporated in Costa Rica.
The company will select three local governments (e.g. counties, municipalities or local constituencies) to participate in the project, while distributing the stake of IDMoney Corporation to each of the three local governments in equal proportion at the end of 3 years from the start of the IDMoneyproject.
To make the stake transfer transparent, the shares of the company (i.e. **IDMoney Corporation) will be placed in a trust, thereby ensuring that the endowment will be made to the selected local governments in a transparent manner.
IDMONEY TEAM
The IDMoney team has wide range of experience in the field of blockchain technology, payment and financial systems, information technology (developers and system architects) and more.
For more information, please refer the below mentioned whitepaper on the IDMONEY project.
Website:- https://idmoney.io/
Whitepaper:- https://idmoney.io/#whitepaper
Follow on Telegram:- https://t.me/idmoney_eng
Follow on Twitter:- https://twitter.com/IDMoneyHDN?lang=en
Like on Facebook:- https://www.facebook.com/idmoney/
Follow on Medium:- https://medium.com/@IDMONEY
Subscribe on YouTube:- https://www.youtube.com/channel/UCX8esaFWpTyyV-nvlyQTVJw
Published by 'Sameer S'
Bounty0xUser Name:- samdude [Sameer]
Bitcoin Talk Profile:- https://bitcointalk.org/index.php?action=profile;u=1978491
Disclaimer:- Nothing written in this article should be considered as legal or investment advice.