Safein - Multi-Factor Authentication Mechanisms And Digital Identity Management

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Tuesday, March 27, 2018

The rapid growth of e-commerce remains unstoppable. However, the industry itself is still ripe for improvement as concerns over data protection, cybersecurity, money laundering and the monopoly of various sectors are mounting. Moreover, online shopping is not only troublesome but also complicated. Think, for example, that all password re-enrollment, verification, and recovery follow a daily online customer experience.We believe that outdated technology must be blamed for almost all of these problems. Therefore, we think it's time to improve this by embracing the modern way of managing your online identity and your shopping experience.

ABOUT SAFEIN

Safein plans to become a fully licensed EU electronic money agency with the ability to receive and process payments in accordance with the law. Users will be able to save their crypto and fiat currencies in one wallet while converting them from one to another. The main cryptocurrency, including Bitcoin, the popular Ethereum ERC20 token, and other popular cryptoes will be supported. The currency exchange function, for crypto and fiat, will become the standard for all currencies with 0.5% markup of the best available interest rates on the market. Owning an EU electronic money license (EMI) will allow Safein to connect to the SEPA network and provide IBAN codes to all of our users. Once it's available, Safein will be one step closer to becoming a standard instrument for everyday use. In addition, Safein plans to have a payment card connected to a user account, so that users can use their Safein account every day both online and offline.

Safein provides a unique solution for users and merchants. Users will be able to log in to the website directly without registration. The Safein Account at the same time will provide the information needed for client acceptance and service provision to the merchant. For example, if a user enters a forum, the forum usually only needs to know the user's display name or some unique identifier that allows it to separate users from others. In this case, Safein will not reveal data such as the full user name, address, etc. Instead, it will only provide the forum with the required username. On the other hand, if the same user buys a physical book, additionally, the merchant will be given the user's full name and address for delivery. However, users will have full control over their data at all times, always seeing what information is requested by the merchant and giving clear approval for such transfers in advance.

Multi-Factor Authentication Mechanisms And Digital Identity Management

Security should be the main focus when managing your identity and wallet online. Safein will have a multi-factor authentication mechanism implemented from the start. While integrating Safein, every trader will be able to choose the minimum level of security he needs from its users. For example, a merchant may request all login to the merchant's site and all payments must be confirmed by the user on the mobile device - ie (i) push notifications appear, (ii) the user must identify himself through the pin code or fingerprint on the mobile Safein application and (iii) approve login or purchase. Users (on their panel) can also increase the general security level for each website individually. For example, although certain websites do not require mobile device confirmation for website logins, users can always increase their security level by enabling the terms themselves.

The KYC Machine Procedure

The Safein team is currently in talks with the world's leading automated ID verification service provider to deliver highly accurate results using its AI-powered document checking algorithm. Such an examination, where users only need to scan their identity with their cameras and retrieve selfies, will be sufficient for most uses. Some advanced verification, where users must adhere to very specific rules (for example, multiple cryptocurrency exchanges), will be done manually by the Safein team. This can take up to several minutes, but compared to the recent waiting periods for several exchanges, this remains a radical improvement, especially given that users only need to do it once.

Mechanisms implementation for buyer protection

Most merchants are well aware of issues arising from credit card and cheating refunds. One of the biggest advantages of crypto payments is that it can not be changed anymore. In e-commerce standards, merchants are considered as a more trusted party, therefore buyers need to send payments first. Resolution mechanisms of dispute resolution and dispute resolution were created to help buyers recover funds from merchants who failed to deliver the goods or delivered them in an unsatisfactory manner. However, these mechanisms have recently been abused by fraudsters and scammers in the opposite way.

Safein MVP

Safein MVP now allows users to create accounts on the Safein platform and connect it to mobile devices. Safein is currently integrated on demo websites where users can sign in with Safein without signing up, adjust their security level for various websites, track their login activity from their mobile devices and close active incoming sessions at any time.

We believe that our services will be in great demand by both merchants and users. By using our services, users will benefit from:

• Be able to skip multiple registrations that take a lot of time, and gain access to any service immediately without delay on identity verification or transfer of deposits
• End the management and recovery of multiple users accounts with various keywords
• Ability to buy from merchants offering the best price or product than from a single user who already has a verified account
• Increased conversion rate due to the reduced number of customers avoiding new signups
• Reduce the cost of user verification procedures (as we will provide such verifiable users for free) as well as significant savings in the account recovery/password recovery department.
• Losses need to be feared for compliance with GDPR and data protection regulations in other countries
• Convenient one-stop shop for both, easy online access and payment
• The disclosure of complete and clear customer data is forwarded to the website
• Improve their cybersecurity data security
• The convenience that the company collects their personal data (ie Safein) is trustworthy and will be able to protect it
• Transaction costs are much lower and also a very easy way to make payments in fiat and Cryptocurrencies
• Anonymity increases, and protection from unexpected data and spam activity
• Reduce the risk of customer data leakage from the internet
• Access to our growing user group incentivized to use services provided by our partners
• Ability to receive payments from users who pay both, fiat and crypto
• Reduce transaction costs
• Single plug-in integration
• Ability to correctly establish user location and applicable legal regime
• Discount commissions and further rewards for using our tokens and services
• Ability to instruct the selected network to stop collecting individual user data as well as to delete data collected on the user
• Cashback and further rewards for the loyalty and usage of our services

Safein Token Specification, Allocation and Crowdsale Program

Merchants using Safein will be able to reduce their transaction costs by holding SFN token. Each SFN token holds a merchant's right to process a certain payment amount per month without commission fee. The initial multiplier, right after the payment launch, will be 10, ie each SFN token will let the merchant receive 10 SFN tokens worth of payouts without commissions that month. The multiplier will gradually decline within 5 years from the date the payment is launched. This will result in a very high token request from the start, and merchants who buy tokens during ICO will get the most profit because they can buy it at the lowest starting price - 1 ETH = 9,000 SFN

Token Name: Safein Token
Token Ticker: SFN
Type: ERC20
Platform: Ethereum
Price
- PreICO price1 ETH: 12,000 SFN
- Price in ICO1 ETH: 7,000 - 9,000 SFN
Allocation token for sale: 300,000,000 SFN
Min. investment: 0.1 ETH
Accepting: ETH
Soft cap: 6,000 ETH
Hard cap: 40,000 ETH

https://bitcointalk.org/index.php?action=profile;u=1966569
0x29906d5c17c514606c1407F5F68CdBc9FC47964e

https://www.safein.com/
https://t.me/safeincom
https://www.safein.com/summary/safein_whitepaper.pdf?version=1
https://bitcointalk.org/index.php?topic=2852281

Labels: ICO, SAFEIN

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