PhotoChromic is a pioneering service that allows its audience to effortlessly craft and manage their distinct online identities across diverse software services, blockchain ecosystems, and Dapps.
For those versed in NFTs, PhotoChromic's innovation might strike you as nothing short of brilliance.
With PhotoChromic, individuals can securely establish, own, and validate their identities by leveraging a tokenized NFT, opening doors to opportunities within the expansive crypto DeFi landscape.
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PhotoChromic ID for NFTs and More
PhotoChromic envisioned their identity verification by marrying biometric life-proof data with state-endorsed identity credentials alongside personal details.
These inputs converge into an on-chain asset (NFT), empowering the owner to engage with blockchain networks demanding identity proofs and Web3 apps.
By using PhotoChromic's platform, users can maintain full control over their digital selves with high-security measures. Both physical and digital properties tie into one-of-a-kind biometric identities, validated by PhotoChromic's unalterable protocols.
PhotoChromic is initially rooted in Ethereum, Polygon (MATIC), and Cardano, with prospects multiplying as it expands across additional vital blockchain infrastructures.
The Journey and Key Achievements of PhotoChromic's Pioneers
The co-founders of PhotoChromic bring a wealth of knowledge in online identity validation. While their tech backgrounds differ, both are well-versed in the intricacies of identity solutions.
A Closer Look to the TEAM:
Murray Legg
Ph.D. in Biomedical Engineering; Bachelor's with Honors in Mechanical Engineering; Power30Under30 honoree; Ex-Investment Banker; Entrepreneur funded by venture capitalists; TEDx speaker; Ironman competitor.
Murray has spearheaded various projects across a spectrum of industries, carving out a niche for himself renowned for proficiency and acclaim.
His career journey spans investment banking, digital communications, biomedical research, and he has engaged in educational initiatives as well as business workshops across finance sectors in China, the Middle East, and India.
Noteworthy ventures co-founded by Murray include Penguin Tutoring, with operational franchises in the USA and South Africa; Retroviral Digital Communications, clinching the PRISM Best PR Agency accolade in 2013; and Webfluential, a flourishing platform for influencer sales and marketing.
Gur Geva
Armed with a Master’s in Business Administration from the University of Witwatersrand in Cape Town, Gur stands out as the creator and head of iiDENTIFii, solidifying his stature as an authority in digital identity, biometric verification, AI, and machine learning.
In South Africa, iiDentifii has revolutionized tier-one banks like Standard, Investec, and ABSA by initiating their journey into Digital Identity adoption.
Fate intertwined the paths of these two visionaries to embark on their current enterprise, PhotoChromic.
Gur brought forth centralized identity software for the financial world, while Murray contributed a preeminent digital platform aligning influencers and brands, propelling both to explore blockchain possibilities culminating with the NFT concept.
PhotoChromic’s Vision
PhotoChromic's team perceived early on the demand in the blockchain universe for identity validation, vital for users like athletes, creators, and public figures.
Such individuals have substantial value tied to their persona and branding, making identity theft or fraudulent impersonation a significant risk.
The task was to develop a verifiable utility facilitating user identification on blockchain platforms. This utility also offered provenance for creations by users who monetize through fan interactions.
Many opt for anonymity on blockchain despite daily interactions. Yet, there is an underlying need for confidence and assurance during crypto engagements.
This is the niche where PhotoChromic delivers a distinctive advantage. Users can mint a personal biometric NFT resembling regular NFTs or tokens within their crypto portfolio.
These personal NFTs consist of generative artwork, mapped from the user's distinctive facial characteristics.
Owners of identity NFTs can lease this creative work to approved third parties, maintaining complete authority over its usage through contractual agreements.
Users can opt for the generative art to remain untethered from their real identity, or choose it to reflect their persona, fitting for notable figures like athletes or artists.
In the expanding crypto-ecosystem, a rise in platforms requiring user verification is evident. PhotoChromic answers this growing necessity with their identity verification protocol.
Today, navigating decentralized crypto domains demands secure and hassle-free identity proceedings, something traditional financial systems scarcely address.
Notable Achievements so Far
PhotoChromic made headlines by successfully finishing a private token presale followed by a DEX launch of their $PHCR token, achieving oversubscription by a factor of 125x.
The IDO event, orchestrated by the CardStarter launchpad, successfully amplified awareness and exemplified a decentralized, self-governed fundraising venture.
With a total of 15 billion available, $PHCR acts as PhotoChromic's Identity Bonding Token. Of this, 21% was allocated during the initial and IDO sales.
PhotoChromic's $PHCR, an ERC-20 standard token, operates on the Ethereum blockchain. It serves multiple purposes, including governance, identity bonding, and staking.
PhotoChromic applies two specific Ethereum token standards:
- An Identity NFT linked solely to one individual, compliant with ERC-721 specifications.
- $PHCR, the native platform currency, designed for multi-chain use, maintaining ERC-20 compatibility.
PhotoChromic's B2B Strategic Advantage:
For large centralized entities transitioning into Web3, PhotoChromic enables logging in 'via Ethereum,' confirmed by specific credentials like KYC details.
The whole identity validation process is seamless, running on-chain, thus removing internal administrative burdens and costs for organizations.
As a decentralized model, PhotoChromic removes the requirement for these entities to manage or store vast amounts of user data, circumventing potential risks and expenses.
How it Works:
Similar to internet domain expiry, users must renew their subscription annually. Enrolment involves a signed NFT creation through an IDV & KYC process to receive a username ending in .photochromatic.eth.
Enrollment incurs an initial fee with subsequent yearly maintenance costs. Verification transactions also attract a nominal charge.
Next Steps
Presently, PhotoChromic operates on the Ethereum, Polygon (MATIC), and Cardano networks, with proposed expansions to Solana and other Layer 2 chains.
PhotoChromic's NFT, adhering to ERC-721 standards, essentially functions as a smart contract, anchoring an array of personal attributes and identifiers.
The NFT, a life-span singular address, encapsulates user data, self-authenticated with KYC docs such as IDs, birth dates, home addresses, along with user-inspired generative artwork.
Defining PhotoChronic Generative Art
An outstanding feature of PhotoChronic is crafting generative art via algorithms that transform a user’s passport photo into distinct, expressive digital creations.
Users have control over these algorithms, allowing modification of variables to reflect personal aesthetics and taste.
This artistic involvement can also be shared with a user’s followers or enthusiasts within the PhotoChromic ecosystem.
However, the true artistry lies not in creating images but in perfecting algorithms that personify an individual’s essence in the resultant artwork.
This marks a shift in paradigms, where technology democratizes art, delivering unique, collectible creations via personal algorithms.
PhotoChromic is Well Placed to Grow
The urgency to decentralize identity verification was spotlighted post-Covid-19 civil rights measures.
The PhotoChromic platform empowers singular ownership of self-sovereign identity biometrically managed, issuing easily innate, verifiable, customizable NFTs.
While integrating onto crucial blockchain platforms, this protocol introduces multiple value-extending features and opens commercial potentials for PhotoChromic and strategic partners.
PhotoChromic has rolled out an innovative blockchain-driven solution designed to empower individuals with their self-sovereign identity control. Essentially, it aims to ensure users can fully manage their own data without intermediaries meddling.
To learn more about PhotoChromic, you can visit its website right here !
