TL;DR
- Fractal is a Berlin-based company building a software for identity verification services — that software is Fractal ID.
- Our user data collection interface was developed with an international audience in mind.
- What constitutes the ID procedure With us, you are recognized as a dog (or a state-sponsored troll, for that matter), which is impossible to do on the Internet.
- We provide ID because… In the same way that Skype did in the past, we want to build an ecosystem that functions best when additional people join.
- We want to make it simple for users to register with numerous other services with just one click by using their Fractal ID.
- We do know that some loosely regulated industries that sell age-restricted products online, such as financial service providers with headquarters in South East Asia, may be able to use the product.
Fractal is a Berlin-based company building a software for identity verification services — that software is Fractal ID. Fractal ID is used by companies who have to confirm that their customers are who they say they are before offering services to them, because they are bound by laws and anti-money-laundering regulations.
Recall how simple the Facebook Login button made the registration and login processes? Without the data lock-in, we thought this would be fantastic for the decentralized web as well. Thus, we created Fractal ID.
Banking-grade KYC/AML identification criteria are provided by the Open Authentication (oAuth) login method known as Fractal ID.
We are currently integrating the Sovrin DID as well as other decentralized ID protocols that allow you to own your own data, proving that convenience does not entail compromising data privacy. You can request the deletion of your data at any moment because we abide by the European General Data Protection Regulation (GDPR).
You and your users can use Fractal ID for free.
Fractal ID can be used, for instance, to limit who can sign up for your Web 3.0 people-only Twitter or decentralized eBay dApp. If you require the data, for example because you process payments and need us to adhere to certain specifications, we do offer paid plans. Naturally, we only transfer information to you if your consumers have expressly authorized us to share it with you.
To provide a fantastic user experience, we use our own KYC/AML processes.
Our user data collection interface was developed with an international audience in mind. It is known as the airport approach. You operate with foreign paperwork, your customers are from all over the world, and they could not understand English. Additionally, time is of the essence. In order to make the procedure as simple as possible, we took each question individually and added clear help sections.
Design alone does not make for a great user experience. Building software that people can use is essential if we are serious about making Blockchain mainstream. If we are serious about creating inclusive, border-neutral financial systems, we must also provide services for non-native speakers.
We address adherence to regulations.
We comprehend. It’s bad practice to require clients to upload papers. However, we are not going back to the straightforward ERC20 smart contract ICO era.
We’re trying to make things as easy as possible for you and your clients. We have engineers, designers, and attorneys on our multidisciplinary team from the beginning. Systematic compliance is built into it. In fact, our legal team has expanded to the point where we worry that our General Counsel — a fancy title for our head attorney Adi Horowitz — will soon open her own law firm.
The goal of Fractal ID is to make online identity possible.
Fractal creates software to assist businesses in the so-called Know-Your-Client (KYC) procedure of online customer identification. Typically, our clients are forward-thinking financial service providers who aspire for bank-grade compliance with legal requirements including anti-money-laundering (AML) rules.
What makes us unique is that we leverage ‘Login with Fractal’ logic to offer a user onboarding path that functions right out of the box (akin to, for example, Google’s Single-Sign-On). This involves Fractal screening each provider of authentication technology on the market, connecting to a global network of KYC providers, continuously enhancing the user experience, and offering customer support.
What constitutes the ID procedure
With us, you are recognized as a dog (or a state-sponsored troll, for that matter), which is impossible to do on the Internet. The Fractal ID procedure entails:
- identification (getting ID documents like passport or national ID) (receiving ID documents like passport or national ID)
- authentication (testing the authenticity of the passport) (checking the authenticity of the passport)
- liveness (making the person in front of the device is live) (making the person in front of the device is live)
- facial contrast (matching this person with the passport photo)
checks for money laundering (checking for bad guys)
Before some of you cringe, let me say that Fractal is an identity service based on user consent, which means that users always give explicit authorization to share their information with the organization you are trying to join up with. These verifications are part of Fractal ID, although it simply transmits first name, last name, and email. In this manner, we protect data privacy while ensuring authenticity.
We provide ID because…
In the same way that Skype did in the past, we want to build an ecosystem that functions best when additional people join. We want to make it simple for users to register with numerous other services with just one click by using their Fractal ID. The more people that are already using Fractal, the more appealing the service is to businesses.
We wish to break down all obstacles to using Fractal ID. We are aware of the challenges involved in starting a new company. We are enthusiastic about enabling freshly established companies to begin with a low unit-based pricing strategy. Additionally, we aim to support use cases where the expense of onboarding is now impeding widespread adoption.
Naturally, we hope that these early consumers will upgrade to paid plans once they learn about the additional capabilities we can provide and that these users would return to use the services of businesses that choose a paid plan initially.
enabling the internet’s identification layer
There is an argument to be made that the anonymity of the internet makes it fantastic. We fervently concur and believe that a sizable section of the internet will remain that way.
Those immigrants living in France without formal documentation are known as sans-papiers in French. They have little protection from discrimination and have limited rights. In fact, having the ability to establish your identification is required almost everywhere (not just in France) in order to exercise basic rights: In order to register to vote, you must present your ID before you can enter the voting booth. You must also state your name in court and identify yourself to the notary when purchasing a home.
We are all essentially “sans-papiers” online. The existence of a state-sponsored bot army or human people signing the web petition is unknown. All the enjoyable activities, like dating or shopping, are available to us, but the real world is where the important things happen.
This is an inconvenience in areas with imperfect but present basic infrastructure. Offering a great identification infrastructure, however, offers a major opportunity in areas with inadequate fundamental infrastructure.
Applications of an Identity Layer
Fractal ID may be helpful in a number of additional situations, the most of which we are probably unaware of. We do know that some loosely regulated industries that sell age-restricted products online, such as financial service providers with headquarters in South East Asia, may be able to use the product. There may be a need for age verification and identity when games incorporate betting or payment components.
We believe that identity could aid in the sharing economy’s fight against fraud and vandalism. Perhaps you’d like to confirm that the lady renting your apartment is who she says she is. Real profiles could increase trust in freelance and recruiting platforms.
There are undoubtedly a number of use cases that we overlooked, and there may even be some that can only be implemented if onboarding is free.
Our contribution to creating an online with identity is Fractal. We look forward to seeing the use cases you develop to return rights to the associated user.
Join Fractal ID at https://web.fractal.id/
