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11:49, 03 April 2018

Decentralized Wallet and Identity Theft Protection Platform Safein Announces Pre-Token Generation Starting 3rd April 2018

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Identity theft is a global issue and one of the glaring problems in this digital world. Ever since most banking records have become digitized, we have faced this issue and it will become more serious as time goes by. Identity theft is used mostly for stealing money from unsuspecting persons and governments and is used for facilitating illicit activities around the world. So, it is pertinent that next-generation payment systems (system is a regularly interacting or interdependent group of items forming an integrated whole) have a zero-compromise attitude towards identity theft (common usage, theft is the taking of another person’s property or services without that person’s permission or consent with the intent to deprive the rightful owner of it. The word is also used as).

Blockchain-based payment systems are an alternative to centralized payment gateways. Using decentralization and simplification, they can offer us credible Identity theft-proof payment (payment is the trade of value from one party (such as a person or company) to another for goods, or services, or to fulfill a legal obligation) systems based on both fiat and cryptocurrencies. Safein is one of these decentralized payment systems and it is offering a safe, single (may refer to) sign-on digital (usually refers to something using digits, particularly binary digits) wallet for both cryptocurrencies and fiat currencies that enables access to digital assets with a single click. The platform is undergoing a crowdsale shortly starting from 3rd of April 2018.

One-click Operation

If you follow the prominent cyber security icons around the world (world is the planet Earth and all life upon it, including human civilization), they stress on password (password is a word or string of characters used for user authentication to prove identity or access approval to gain access to a resource (example: an access code is a type of password), which is) strength more than anything. But, the issue (or issues may refer to: Issue (genealogy), a legal term for a person’s descendants Issuer, a legal entity that develops, registers and sells securities) is that they also advocate different unique passwords for each account which is just not humanly possible for everybody to be doing. Most users cannot possible remember seven or more 20+ character passwords and have to ask for a new password verification every now and then. So, instead of focusing on a number of passwords, Safein is proposing a system that will enable all of the financial services at a single click, thus eliminating the need for memorizing so many passwords and login combinations.

Giving Back Control of Data to Users

In addition to simplifying the access to the platform, Safein is offering the users a chance to have (or having may refer to: the concept of ownership any concept of possession; see Possession (disambiguation) an English “verb” used: to denote linguistic possession in a broad sense as an auxiliary) complete control of their digital information. When third parties access (may refer to) for information regarding a person’s financial or personal data, only the part allowed by the user will be disclosed to the third party that is explicitly approved by the end user. Users (may refer to: User (system), a person using a generic system User (computing), a person or software using an information system User (telecommunications), an entity using a telecommunications) will (may refer to) also be able to stop the sharing of data any time they want by withdrawing the third (or 3rd may refer to) party’s right to view it.

Safein is leveraging their personal data (is a set of values of qualitative or quantitative variables) system to make and receive payments both in cryptocurrencies or fiat. This is the main application of their flagship identity (may refer to) protection system but there are other potential applications that are in the pipeline.

Safein Pre-Token Generation Event

The Safein platform’s native token is designated SFN. The pre-TGE is divided into two rounds; in the first round, 13 million SFN tokens (may refer to) will be available @ 12000 SFN = 1 ETH. The price set for the next stage of the sale is 10500 SFN= 1 ETH. The main token generation event will start from the  25th of April 2018. The soft cap target for the entire crowdfunding campaign is set at 6,000 ETH while the hard cap is 40,000 ETH.

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