First of all, from the behalf of our entire team, we would like to thank you for attending our panel discussion event yesterday at One Canada Square, London. We hope that you had a great time, and learned more about how blockchain can be used in our daily life, how biometric authentication works, and what IRIS is. The whole event has been recorded and is currently being edited for the people that couldn’t come to see.
In terms of business development, there have been some major changes in our project’s strategy. We have designed a whole new staged funding strategy, made significant changes to our business plan, and even have updated some calculations regarding revenue projections that have shown even more promising results. We have also done minor changes to our solutions in terms of biometric authentication methods that we are going to incorporate. We are also now focusing more on designing digital identity functionality for our ecosystem, rather than just payments.
Furthermore, we are proud to say that from today on, we are incorporated in London, UK as “IRIS Payment Solutions Ltd.”, and that we have filed for 5 different patents! We are going to spend the next 1-2 months focusing on establishing a strong fundraising profile, working alongside our partners from CommonRoom Ventures, and we are going to keep you all updated on how our development goes.
There has also been a significant change to our underlying architecture, in which we are not going to go into detail as of this moment, but the blockchain platform we are going to use is now Komodo (KMD). Komodo is a secure, independently scalable, and fully interoperable blockchain ecosystem that provides end-to-end blockchain technology solutions. However, the project expands far beyond that. Komodo is an ecosystem that also includes a decentralized exchange and a cryptocurrency anonymizer to improve the privacy of your transactions. The main reasons we have chosen to work with Komodo are:
- Atomic-Swaps – Great technology for currency exchange
- Tremendous TPS (+100,000tps)
- Protection against 51% attacks using dPoW protocol
- Decentralized Fiat Currencies (DCFs)
In conclusion, it has been some crazy months for our team, but we are working hard on making IRIS a reality.