Fractal developed identity and payment solutions for the decentralized Web. In addition, the company intends to support other companies to emit in a legally compliant ICOs.
ICOs, the identity and the Blockchain – three topics that are as complex as merged. Fractal, a company with Offices in Berlin and Porto, takes on a team of three now. So Fractal developed according to the press release, user-centered, and legally compliant proof of identity and payment solutions for the decentralized Web. In addition, the company Open-Source Blockchain projects for the financing of the future Ecosystem to support a first Token introduction. Fractal wants to contribute in order to make the ICO-investment process smoothly:
“We want to support entrepreneurs on their way to the development and financing of decentralized, Open-Source protocols. The Seed-round, to leave us better tools to invest in to help you. Fractal plans to invest deeper in its software solutions for identification and payment. It is a costly endeavor, to the global Compliance easy and user-friendly appearance“,
Julian Leitloff, CEO of Fractal explained.
Just for the topic of identity Julian Leitloff in the future, large Potential:
“In the future of decentralized identity will be even more important: The slip system with passes used, is not compatible with modern data protection and also unsafe. Instead of that, the car copies the distributor of my complete passport data, it is sufficient completely, if the company knows that 50 people will guarantee that I am reliable, the minimum age had been exceeded, and a valid driver’s license. […] We want to help to build these safe and simple solutions.“
With innogy Innovation Hub and Coparion the project was able to gain so far, two major investors from the Blockchain-scene. After all, Coparion manages a Fund volume of over 225 million Euro and innogy Innovation Hub is already in several Blockchain projects involved:
“Our investment in Fractal supports our Machine Economy strategy, which envisages a global economy, in which each analog Well – solar panels, charging stations, and patents – with a Token and can be traded. We believe that Fractal has the potential to enable this Transition to a symbolized business in a legal and secure way with your high-quality, end-to-ICO Launchpad“,
so Kerstin Eichmann, Head of Machine Economy Investment Strategy in the case of innogy Innovation Hub.
Identity on the Blockchain with Fractal ID
In order to bring the identity on the Blockchain, has Fractal worked out a System: Fractal ID. Fractal ID to enable users with one click log-in and a user-defined part of their ID-trusted data with a confidence to share transaction partner. The registration and use of the service is free and can be used for transmission of identity and payment information to a third party or, alternatively, to log on to your favorite dApp:
“Fractal will be the first provider that bridges the gap between identities on the Web, and Blockchain. Fractal can for example associate a Facebook profile with a distributed ID and an official driver’s license. We want to keep it for as long as possible“,
Julio Santos, CTO and co-founder of Fractal says.
Fractal is also part of the recent ERC725 Alliance, which wants to establish an OpenID Standard. The company currently employs 24 staff. After the company recently expanded to Singapore and join the German Accelerator in Southeast Asia, they are hoping for a big influence in the Blockchain-scene:
“It is a paradigm shift – the Blockchain technology is a global phenomenon and people are excited. We welcome that and want to involve people from all over the world“,
Nele Wollert, managing Director, emphasized.
Update 30.08: In the case of the 225 million euros, it is simply the volume of funds of Coparion and not on the amount of investment in Fractal.