What is Bridge’s mission?
The Bridge Protocol provides enterprise solutions using blockchain technology to comply to global regulations. Our work involves creating avenues for safe, legal and compliant Initial Coin Offerings (ICOs). Bridge is creating an open, distributed network of validators which regulate the behavior of its participants to provide high assurance interactions.
How are ProjectICO and Bridge related?
The Bridge Protocol was created to address issues the ProjectICO team observed while working with multiple ICOs. After seeing the hurdles and costs that ICO founders were facing, a solution to bring these costs down and design processes to benefit blockchain startups was necessary. Business intelligence collected and analyzed with ProjectICO automation tools has influenced numerous aspects of system design.
Why blockchain and why NEO?
The identity management system benefits from a blockchain, and for purposes of utilizing the identities therein contained, NEO was chosen for its existing functionality and potential development opportunities. Until now, centralized verifiers and data protection services have failed to adequately protect its users’ data. The Bridge Protocol will provide high-assurance certification, lower transactional costs, and data portability.
The Protocol is unlike competitor’s solutions because the user is not required to store ANY personal information, encrypted or otherwise on the network. Generic items, but legally necessary items are contained in the certificate, such as: national origin, over 18, gender, and so on.
Bridge will run operate its own private blockchain for transactions using the Bridge TOLL token, designed to pay for transactional costs on the network and microservices it provides. TOLL tokens are NEP-5 compliant.
What is a self-sovereign identity?
A concept where individuals or organizations maintain records and present it to those who need to validate it, without relying on a central repository of identity data. Bridge aims to apply this concept and expand upon it, further protecting users information by providing tiers, as well as supplementary objects which describe general characteristics of the user, reducing data exposure where it is functionally unnecessary.
What happens if I lose my private key for digital signing?
Bridge will revoke the associated certificates and the user will be required to be on-boarded again.