Written by Peter Keay

Senior Architect / Director of Globalization @ICO Alert, host @Bitgenstein's Table: Crypto Philosophy Podcast. Blockchain industry writer, marketer, programmer
March 20 2018

PikcioChain (PKC) — ICO Alert Report

PikcioChain (PKC) — ICO Alert Report

What is PikcioChain?

PikcioChain enables the collection, certification, and exchange of personal data between consumers and businesses in a fully compliant way.
~Didier Collin de Casaubon, Founder and CEO

ICO Alert Quick Facts

  1. A secure, compliant blockchain-based exchange for personal data and digital identity, in development since 2014
  2. The NEO Council selected PikcioChain as a partner and purchased $3 million worth of PKC tokens
  3. 1 ETH = 1162 PKC, 1 NEO = 150 PKC
  4. Token sale open from March 17, 2018–March 31, 2018
  5. 36,301,650 total available PKC (presale and main sale) / 83,088,000 PKC total supply

Q&A with Didier Collin de Casaubon, Founder and CEO

ICO Alert: ​For those who are not familiar with PikcioChain, can you explain what it is, and what the team aims to accomplish?

PikcioChain enables the collection, certification, and exchange of personal data between consumers and businesses in a fully compliant way. It is a B2B2C (Business to Business to Customer) solution in the truest sense.
PikcioChain lets the user choose how to share their data and whom to share it with, all while being compensated for its use. Furthermore, it creates the trust that is needed to trade data securely. It is compliant with regulations for data exchange and ownership with regards to new rules like the EU’s GDPR directive. Businesses can purchase data knowing it is both authentic and legal to obtain.
Our aim from the start has been to create a decentralized, secure, transparent, legally-compliant means of exchanging data between individuals and businesses. This empowers the individual to monetize and control their own data while allowing businesses to securely use personal data in a regulatory compliant way.
PikcioChain’s personal data and digital identity platform and apps use the PKC token

ICO Alert: ​How does the PikcioChain token (PKC) function within the platform, and why is it needed?

The PikcioChain platform, as well as its products, address various use cases and user groups. For each of these use cases or applications, the PKC token offers specific utilities and functionality.
Businesses can use PKC tokens to purchase customer data along with their proof of authenticity and integrity. PKC tokens can also provide access to identification validation from third parties (i.e. banks) that have already processed the requested KYC data. In addition, PKC tokens will grant users the right to deploy their own smart contracts and execute them in the safe, modular blockchain environment provided by PikcioChain.
PKC can also be used as an incentive for ecosystem participants; i.e. to incentivize data producers to keep their data up to date and to share their data with organizations. Another example is miners, who are incentivized to execute smart contracts and receive rewards of a share of the PKC tokens per transaction.
The PKC token will also be sold on the platform by the PikcioChain company to larger parties at a premium above market price, for their convenience. This premium allows the company to make a slight profit, but also to restock — and even increase — its inventory of PKC tokens by buying them from the open market.
Users holding large amounts of PKC tokens within the PikcioTokenSaleWallet — a wallet that will make participating in a Token Sale as easy as buying something in an online store — can gain access to better token sale tiers, higher bonuses, guaranteed allocations, higher allocations, and advanced wallet features. All of these basic parameters can be customized by the project that is offering their sale via our TSW, leading to a wide range of incentives offered to PKC holders.
The PKC token forms the lifeblood of the PikcioChain ecosystem and is a vital part of the long-term vision for the project.

ICO Alert: ​You’ve been working on this the “Bitcoin of personal data” since 2014. What has been the biggest challenge so far? The biggest triumph?

The first challenges were technological: to design an architecture which would be fully “Privacy by Design” so that our clients would be compliant with even the tougher regulatory frameworks on privacy. That’s why we started by coding a P2P network from scratch, later adding layers of protocols of encryption, obfuscation, etc., so our network was as secure as possible even on the Internet. Secure, compliant communications were not enough for what we intended to do, so we added a Permission-based Blockchain layer for transaction management. (The chain could not be open for compliance reasons.)
Our second biggest challenge was sales, of course, since there were no existing use cases that would help our prospects adopt the solution. So we templated use cases that we identified in several industries and allowed our prospects to very easily test them, with KPIs. That led to us securing our biggest client so far: BNP Paribas.
The NEO Council has partnered with PikcioChain and purchased $3 million of PKC (image by PikcioChain)

ICO Alert​: The NEO Council purchased $3 million worth of PKC tokens during your presale, even though you explicitly plan to eventually transition PKC from a NEP-5 (NEO) token to a native token on your own blockchain.

Your whitepaper tells us why you picked NEO over Ethereum, Hyperledger, etc. Can you tell us what specifically directed NEO to select your product over other projects in the personal data space?

NEO was interested in Pikciochain and in what we had to offer right from the beginning. They have positioned us as the personal data management platform of the NEO ecosystem. The fact that we have a working product piloted by a large financial institution (BNP Paribas) as well as strong strategic partnerships in Europe and the US, including two of the big four accounting firms — E&Y (Ernst & Young) and PricewaterhouseCoopers — helped us stand out from other projects.
PikcioChain has multiple strategic partnerships and clients (images by PikcioChain)

ICO Alert​: What are the top practical applications of your product that you expect would encourage an average person to use it? When can we expect to try PikcioMe and PikcioTokenSaleWallet?

PikcioChain has a number of strong practical applications that we believe the average person will be very interested in. Here are just a few of the applications available to a regular user:
- The ability to be in control of your own data, while also being able to monetize it. This puts power back in the hands of the individual by allowing them to be the master of their private data.
- Securely sending your personal data to a third party. This third party is then able to verify and certify all the data that is sent, with the consent of the user. This ensures you can verify your data with any third party without actually providing them with the data itself. You only provide the certification of it. This is especially beneficial for participants in token sales, who have to provide a lot of personal data for KYC without any real assurance that their data is safe and little knowledge of who is in control of it.
- A simple KYC process: upload once and it’s linked to your PikcioTokenSaleWallet for all future token sales.
- Easily participate in future token sales directly from the KYC’d PikcioTokenSaleWallet
- Link your current ETH and NEO wallets to your PikcioTokenSaleWallet
- Send wire transfers and link your credit card to your wallet
- View all token sales, with the ability to participate with one click
- Get alerts for token sales
- A social network and news section and chat where users can recommend and discuss upcoming token sales and crypto news
There will be a full release of PikcioMe soon after the crowdsale is complete. PikcioMe will later be incorporated into the all in one solution PikcioTokenSaleWallet (TSW) which will be released in May or June.
You can already try an early version of PikcioMe on the Google Play store.
An early version of the PikcioMe app is already live on the Google Play store

ICO Alert: What about some practical applications that would encourage wealthier institutions to use PikcioChain? How far have you progressed with testing PikcioPro?

KYC as a service, our KYC wallet, is about to be deployed in two countries by one of the largest banks in the world (BNP Paribas), and with some additional features by Cetelem (their credit subsidiary) and Cardiff (their insurance subsidiary). Furthermore, in all places where companies have to handle critical data in a data privacy compliant manner, the PikcioChain is an excellent solution.

ICO Alert: PikcioChain uses a modification of Proof of Activity called Proof of Usage to establish consensus. Your whitepaper calls PoU “proprietary.” How have you protected your rights to PoU?

We are currently in the process of patenting it.

ICO Alert:​ I understand you may not be able to give many details as you have not completed the patent process, but has your Proof of Usage algorithm been successfully stress-tested?

Yes, and it passed with flying colours. Yet we are still working to improve it even further. You can learn about Proof of Usage on page 19 of our whitepaper.

ICO Alert​: Some jurisdictions, such as Europe with its “right to be forgotten,” have seen significant moves toward personal control of data. Yet other governmental bodies and Big Data corporate bodies may not view your objective so favorably. What sort of opposition have you seen or do you expect, and how are you responding or preparing to respond?

In Europe, companies (including foreign companies who conduct business with European citizens) have to comply, so opposition is not an option. Compliance is only a matter of time. Right now, most of the companies are far behind, but at the end of the day, they all will have to comply.
The challenge lies in the complexity of the measures these corporations must put in place, involving many aspects of the regulation (legal, database inventory, etc). We have partnered with large consulting and legal firms so we can offer our solution as a part of the compliance process.
For the rest of the world, privacy regulations cover more verticals like health and banking, which is why we are focusing more on banking at the moment.
PikcioChain is fully GDPR-compliant, including compliance with Right to Erasure (“right to be forgotten”)

ICO Alert: ​How far along is the project towards its next big launch, and when can contributors expect to fully use the platform? Please feel free to share any recent updates.

The platform is already in use (see above) with the KYC Wallet. We are now developing several new ones for other verticals and for more complex sets of data. These will be delivered throughout 2018 and 2019.
We have started interoperability work and plan to have the first bridges ready by the end of Q3 2018. We are also adding more AI into our TCI, a major component of our value proposition.

ICO Alert: ​As a non-PikcioChain question we like to ask for unique predictions for the Token Sale and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Token sales as we know them are changing in the face of an evolving regulatory environment. This is something we have experienced first hand. Regulations in certain countries, difficulties with banks and their attitude towards token sale proceeds, a volatile crypto market, Google banning ads for token sales, and a stricter approach to token listings are just some of the issues token sales are currently facing.
These measures will be positive for cryptocurrency and token sales as they become increasingly legitimate and professional. However, they will also exclude some people who cannot comply with the new regulations. This exclusion will change the dynamic of token sales. I believe we will see Token Sales become increasingly mainstream but also cater more to private individuals to comply with regulations. This trend will likely lead to a new wave of token sales which are different in execution from what we know today.

Token Sale Information

The main token sale began on March 17th, 2018 and will last until March 31st, 2018. No bonuses have been allocated for the public sale. The token sale is capped at $30,000,000. Once this amount is reached, the token sale will be closed.

36,301,650 PKC tokens are available for purchase during the presale and the main sale, representing 43.4% of the total supply. As of this writing, over 12,000,000 PKC have been sold.

The current prices are:
1 ETH = 1162 PKC 
1 NEO = 150 PKC

Unsold tokens will be distributed to the community. In order to claim them, users will be asked to use the PikcioChain platform, such as performing KYC and other useful actions. This plan is intended to increase usage of the PikcioChain platform.

PKC can be purchased using ETH, NEO, or fiat currencies via bank transfer.

PKC is a NEP-5 token on the NEO platform. Customers familiar with ERC20 token sales should be aware that PKC is not an ERC20 token. A NEO address for receiving tokens is required during registration for the token sale.

Eligibility for Participation

US citizens and residents are only allowed to participate if they are accredited investors.

Also, tokens cannot be sold to any citizens or residents of Mainland China or of countries or regions comprehensively sanctioned by the US Office of Foreign Assets Control (OFAC) (including countries currently sanctioned such as Ukraine, Cuba, Iran, North Korea, Sudan, and Syria).

PikcioChain advises anyone interested to register on their website and go through their KYC process in order to find out whether they are eligible for the token sale.

Distribution of Tokens to Participants

A NEO address will be required during registration for the token sale. Tokens will be disbursed soon after the sale ends to the NEO addresses participants submitted during registration.

Token Allocation Information

The 83,088,000 PKC tokens will be allocated as follows:

The B2B premium inventory will only be sold at a premium to business clients. PikcioChain reserves the right to refill its B2B premium inventory by purchasing PKC from the market at any point in time.

The B2C growth pool is used for incentivizing customers to use PikcioChain products, provide data, and perform useful actions that generate value in the PikcioChain ecosystem.

How to Participate

  1. Go to https://pikciochain.com/en/accounts/signup/
  2. Enter the required personal information and review the terms at the bottom of the page, then click “Next.” You may need to submit identity documents.
  3. Once you have been KYC verified, proceed to the Dashboard and add a NEO address you control. Make sure the address is for your own wallet and not an exchange address. This is the address your PKC tokens will be sent to after the token sale is completed.
  4. Contribute from the Dashboard using the ETH, NEO, or fiat currency options available.

Roadmap

Team


View the PikcioChain website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References
1. PikcioChain Website, PikcioChain (2018)
https://pikciochain.com

2. PikcioChain Whitepaper, PikcioChain (2018)
https://pikciochain.com/media/dynamic_preferences/whitepaper__whitepaper_en/Ten8%20-%20PikcioChain%20Whitepaper%20English.pdf

Topics: Blockchain, Identity, Personal Data, ICO, Privacy