Question 1

Who is behind ONCHAINID?

Accepted Answer

A team of developers and entrepreneurs started the ONCHAINID project in 2017. It was initially named InvestorID and was launched officially in 2019 for security tokens (more info here)

Based on Ethereum standards (Solidity):

Q: Who is behind ONCHAINID?

<p>A team of <strong>developers and entrepreneurs</strong> started the ONCHAINID project in 2017. It was initially named InvestorID and was launched officially in 2019 for security tokens (more info <a href="https://tokeny.com/investorid-is-launched-in-europe-to-allow-investors-to-compliantly-access-tokenized-securities/">here</a>)</p> <h1 id="basedonethereumstandardssolidity">Based on Ethereum standards (Solidity):</h1> <p>ONCHAINID is built on top of several standards, mainly ERC725 (now ERC734), and ERC735. They were published by <a href="https://twitter.com/feindura?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">Fabian Vogelsteller</a> in October 2017. </p> <h1 id="tokenycom">Tokeny.com</h1> <p>In 2018, <a href="https://tokeny.com/">Tokeny.com</a>, the leading tokenization platform for compliant digital assets, started to work on the compliance validator for security tokens. The onchain control of identities was developed and became an important part of the <a href="https://tokeny.com/t-rex/">T-REX protocol</a> (now published as the ERC3643). Today, Tokeny is an established company and ONCHAINID is already used by all Tokeny's customers (asset managers, funds servicers, investment banks, etc.) and thousands of their investors. </p> <p>Tokeny allows financial actors operating in private markets to compliantly issue, transfer and manage securities using distributed ledger technology, enabling them to improve asset liquidity. The Luxembourg-based company is the leader in securities tokenization and in 2020 was named one of the top 50 companies in the blockchain space by CB Insights. They are backed by [Eur</p>

ONCHAINID is built on top of several standards, mainly ERC725 (now ERC734), and ERC735. They were published by Fabian Vogelsteller in October 2017.

Tokeny.com

In 2018, Tokeny.com, the leading tokenization platform for compliant digital assets, started to work on the compliance validator for security tokens. The onchain control of identities was developed and became an important part of the T-REX protocol (now published as the ERC3643). Today, Tokeny is an established company and ONCHAINID is already used by all Tokeny's customers (asset managers, funds servicers, investment banks, etc.) and thousands of their investors.

Tokeny allows financial actors operating in private markets to compliantly issue, transfer and manage securities using distributed ledger technology, enabling them to improve asset liquidity. The Luxembourg-based company is the leader in securities tokenization and in 2020 was named one of the top 50 companies in the blockchain space by CB Insights. They are backed by [Eur

Question 2

Who can use ONCHAINID?

Accepted Answer

ONCHAINID is an open source system open to everyone. Individuals, businesses, decentralized autonomous organizations and governments can use the system to obtain identities, certify information and use proofs of identity.

Asset owners

Security owners and any type of financial instrument such as debt, equity, funds and real estate
NFTs that certify and authenticate ownership in digital and real world items

Investors

Institutional investors can use it to apply compliance in DeFi
Everyday investors to access the ecosystem of assets

Custody

To immobilize assets and represent them on the blockchain

KYC/AML/KYT solutions

To enable issuers to verify their investors

DeFi protocols

To comply with their regulatory obligations

Question 3

Where can I find the technical documentation?

Accepted Answer

You can find the technical documentation of ONCHAINID here:

Technical documentation: http://docs.onchainid.com/ Smart contracts on Github: https://github.com/onchain-id/solidity Tokeny Identity service: https://docs.tokeny.com/reference#identities

Question 4

What is the development roadmap?

Accepted Answer

Achieved developments

Smart contracts and software protocol for individuals and for corporates/institutionals: this was primarily implemented to support the use-case of security tokens issuance under the T-REX permissioned tokens protocol;
API and SDK: The Identity API allows you to create, update and request identities on the Tokeny ecosystem, and run some requests on the blockchain such as claim emission and retrieval, ONCHANID updates and more. Link:
T&Cs and compliance with data protection regulations (e.g. GDPR)
**Automated deployment ** of identity smart contracts
Management UI of ONCHAINIDs on white-label investor portals for security tokens
Built-in wallet: On-demand provision of an integrated regulated custodial wallet

Ongoing Developments

Standalone Webapp v1 (qualification, profile) - SEPTEMBER 2021:
Universal login - SEPTEMBER 2021
OID Token issuance - SEPTEMBER 2021: Launch of the OID utility token (as supported by the present white-paper)
**OID token listing **on DEX and AMM - SEPTEMBER 2021
Webapp v2 - NOVEMBER 2021:

Future Developments

Compatibility with eIDAS: Connect national european IDs to ONCHAINID smart contracts (eIDAS proof-of-concept already realized);
ONCHAINID Signature: depending on eIDAS compatibility;
ONCHAINIDs for Securities: Cf use case explained in the Whitepaper;
ONCHAINIDs for Assets: possible candidates still to be identified among real estate (b

Question 5

Is OID listed on exchanges?

Accepted Answer

OID is an ERC20 token, not permissioned. It is natively compatible with all decentralized exchanges (DEX) and Automated Market Makers (AMM).

Most centralized exchanges accept ERC20 tokens. Once the system is decentralized enough, we will list the OID token on regulated cryptocurrency exchanges.

Question 6

Are the smart contracts audited?

Accepted Answer

ONCHAINID protocol

The ONCHAINID protocols uses the ERC734 and ERC735 standard. Also, it has been audited with the T-REX protocol (ERC-3643) by Kaspersky: https://docs.tokeny.com/docs/code-review-and-security-audit

OID token smart contracts

OID is a simple ERC20 token.

Frequently Read Articles

Browse All Categories