Sphre identity platform raises $3.7m nine days into ICO
Blockchain identity management provider Sphre has raised more than $3.7m within the first nine days of its initial coin offering (ICO). Sphre will use the funds to bring its identity management platform to market, according to Director Daren Seymour. The start-up's AIR Platform can be integrated into third-party systems, while Sphre's mobile application secures each user's private key. The firm's Hyperledger Chaincode smart contract is also able to confirm an individual's identity if his or her mobile device is lost.

Identity management Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term startup Sphre has raised more than $3.7 million in the first days of its XID token crowdsale . The token crowdsale, which began June 1, 2017, has raised more than 1,329 BTC (Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term) from 575 participants in just less than nine days.

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Daren Seymor

“Early support for the AIR Platform through our XID token sale is a clear indicator in the belief that blockchain technology can help modernize identity management,” said Daren Seymour, Director of Sphre. “We hope to build on this momentum throughout the token sale, and dedicate all of our resources towards bringing this platform and consumer application to market.”

The AIR Platform is described as a secure, lightweight system for digital identity and individual microeconomic engagement based on blockchain infrastructure. Air’s API will allow third-party organizations and enterprises to integrate support for Air into their existing and new systems, while the mobile application secures and maintains each individual’s private key. Users also have the ability to store their key within a digital vault of their choice, such as a bank. The Hyperledger Chaincode (smart contract) forms the basis of the given identity, and contains program logic that will allow an individual to recover their identity if their mobile device is lost.

XID tokens are used within the AIR platform to facilitate identity-based transactions and handle profit-sharing disbursement based on customizable monetization agreements.

Sphre was originally aiming to raise just $1.5 million to build the Air consumer product and introduce it to the market.