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November 29 2017

ICO Alert Report: Remme

ICO Alert Report: Remme

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ICO Alert Quick Facts

  • Identity authentication on the blockchain + DApps.
  • Pre-ICO REM token price of $0.04; $3 million hard cap.
  • 20% bonus during pre-ICO; begins December 4, 2017.
  • ERC-20 token; Ether is the only accepted contribution form.
  • 500,000,000 / 1,000,000,000 tokens for sale across pre-ICO and ICO.

What is Remme?

No more passwords — and no more break-ins. REMME is a solution to make passwords obsolete, thus eliminating the human factor from the authentication process. REMME is designed to facilitate and resolve access management by building the distributed Public Key Infrastructure protocol and the set of DApps on top of it. A public key infrastructure (PKI) is a set of roles, policies, and procedures needed to create, manage, distribute, use, store, and revoke digital certificates and manage public-key encryption. This standard is based on SSL/TLS certificates, which are widely adopted in enterprise solutions such as banking and tax services. In addition, almost every device, from a laptop to a car, supports SSL/TLS that makes it possible to use REMME for IoT. The critical point of traditional PKI is the trusted certification authority and centralized architecture.
REMME is a next-gen data protection solution as it removes friction, increases user experience, and delivers high value, excelling in all security aspects.
- Removes the need for centralized storage and makes leaks of user credentials impossible.- Replaces weak means of protection (like removing the door from the wall literally — not just another password storage), i.e., REMME makes passwords and PINs obsolete (at least for 80% of the cases).
- Minimizes the human factor (phishing, social engineering, etc.), as there is no password to be stolen or given out by mistake.
Two key parts of the REMME solution are:
1) REMME PKI (d) protocol: uses a custom blockchain with Bitcoin anchoring and powered by nodes to assure the stability of the system. The REMME Protocol is distributed as open source code, so everyone can use it to build their own DApps through REMME SDK.
2) REMME DApps: REMME WebAuth, REMME Enterprise, and REMME for IoT will be developed during the first stage. REMME mail and REMME sign are planned to be developed during the future stages.
In addition, we offer users the option to use different 2FA (two factor authentication) options: through the most popular messenger apps for REMME WebAuth (no need to install additional apps) or using hard tokens and corporate mobile applications for REMME Enterprise (to meet internal security requirements).
 — Alex Momot, CEO of Remme

Q&A

ICO Alert: How does the Remme token function within the platform and why is it needed? Why does your project need to be on the blockchain?

Remme: The role of blockchain is fundamental for our project. It is one of the two core building blocks REMME is based on. We are developing a PKI (d) protocol by augmenting the Bitcoin blockchain protocol to render it PKI enabled. In other words, if a certificate is valid or revoked, the information will be stored in a decentralized way with the help of blockchain technology.
REMME uses blockchain technology to create a distributed certificate management system that has no single point of failure. And REM token is the superpower boosting the whole ecosystem, operating like a license or digital key and granting its holders access to REMME PKI and DApps. Token holders will be able to use the REM token in a variety of ways: certificate generation, revocation, node creation, and fees covering conversion of fiat payments.

ICO Alert: What is the background of your team and what unique experiences do you have that you believe will help make this project successful?

Remme: I’ve been involved in the crypto space since 2013: started my journey from deep discovering of everything Bitcoin-connected and participation in Ethereum ICO. In 2014, together with Kate (co-founder of REMME), we ran BitX — a startup that allowed paying for telecom and other everyday services in Bitcoin. That was the first time when we saw with our own eyes what happens when old economy meets new economy. In the end, we had to shut down the service, since the bank, which was our processing provider, was too skeptical about everything connected with cryptocurrency. Luckily, the situation is changing fast. Now we have support from organizations such as the Bitcoin Foundation Ukraine and I am proud to be a member of its board of directors. BFU helps to push the objective and deliver clear information to the community, and cooperates closely with the government and businesses. I have also worked in the Bitcoin mining space since 2015, obtaining the position of head of business development at a company that produces Bitcoin mining equipment.
Kate (co-founder and CMO) previously worked as the head of marketing for the software development company, trusted by Fortune Global 500 and leading Ukrainian companies. She is also a co-founder of the web-development studio.
Roman is our CTO master. He is the co-founder of the company that provides ICT services and DApps solutions for business and blockchain platforms.
Jan, our CBDO, has a demonstrated history of working in the computer software industry. He is a strong business development and marketing professional and received his education at Karlsruhe Institute of Technology.
For all core roles, we engaged professionals who possess all the talents we need for business success. All members of our team have proven records of accomplishment and are masters in their field. Following our pre-sale and public token generation event in February 2018, we plan to expand our engineering team, open sales offices, and build first-class customer support, as well as grow our marketing team.

ICO Alert: What are some of the biggest security issues faced today that REMME is trying to solve? Can you provide any specific use cases?

Remme: Statistics says that most security breaches happen due to the human factor. A password may be too easy to guess; people leave their browsers open on public computers, write their passwords down or keep them in a file on their computers, click on suspicious links in emails or get tricked into giving away their login data. Equifax lost the personal data of 143Mln of US customers because they used “admin” as username and password. Even knowing the risks of clicking dodgy links, everyone is still doing it. Leaks of personal data happen all the time! With REMME, such attacks won’t hit the target. Instead of a password, a user generates an SSL certificate that serves as a public key and is stored securely on a device.
A larger problem is the centralized architecture of existing solutions, storing logins and passwords on a server. If a centralized storage is hacked, all data can be accessed at once. Due to its distributed nature, REMME eliminates the risk of server breach attack.

ICO Alert: Who are the target users of your technology when it launches? What industries are they in and what is your strategy for mainstream adoption?

Remme: REMME is a business-to-business solution for all types of business where security of sensitive data is the highest priority. We do not intend to have limits based on the size of the business or industry: companies of all sizes from all sectors will benefit from the secure access management product we’re developing. Still, at the same time, we see the biggest demand for our service in IoT, financial, infrastructure, MedTech, and blockchain companies.
We anticipate REMME attracting three primary types of users:
1) Website owners and web service providers, who could benefit from distributed authentication.
2) Corporate clients, who can use our technology inside their organization for protecting employee access.
3) Internet of Things to secure device-to-device communication.
We’re on course to become the industry leader for access management solutions, bringing the advantages of blockchain technology to traditional businesses.

ICO Alert: Do you foresee any limitations with transaction fees and scalability from using the Ethereum blockchain? Is there a possibility the project will eventually move to another blockchain down the road?

Remme: REMME will use a custom blockchain with Bitcoin anchoring, which is fine-tuned to provide constant prices and high throughput and compliance with state-of-the-art standards. In early 2016, the first closed beta version of our product was released on the Emercoin Blockchain. However, its transaction fees became one of the reasons why we started working on the second version of the product on top of Bitcoin blockchain, where the transaction is spent only when a certificate is revoked. The main requirement for the new system is to give users a predictable and stable pricing policy that will be pegged to fiat currencies.

ICO Alert: Can you provide some details about your pilot program for online resource owners and online service providers?

Remme: At the beginning of 2016, we implemented pilot projects with five companies from completely different business areas, ranging from an online healthcare portal to a hardware manufacturer for Bitcoin mining. They all have one important thing in common — a serious attitude towards protection of their users and their data. Thanks to valuable feedback we received from using REMME in real-world environments, our team was able to trial-test and release the second beta version of the product.
As of October 17, 2017, we’ve opened the applications to 2018 Pilot Program. Applications will be open until December 17, 2017. And by December 20, we will form a list of 10 participating companies. As of today, over 30 medium and large companies applied and we’re inviting all forward-thinking companies to join it here.
For more information about the program, please refer to our announcement.

ICO Alert: What is your strategy for pegging pricing to fiat currency? Who would decide on the price and how will it be determined?

Remme: I would like to emphasize that REMME is free for end users. The companies willing to integrate REMME need to pay for the DApp. The yearly price is planned to be $1 per user and it will be pegged to fiat currencies by using pricing oracle. Oracle is also required for currencies sync, as the system is linked to Bitcoin and Ethereum and should know the prices for these cryptocurrencies.

ICO Alert: Has REMME formed any strategic partnerships that you would like to share with the community at this time?

Remme: We’re proud to have signed the memorandum on pilot project implementation with Ukraine’s state-owned company Ukrinmash. Information security is a critical task for this organization, and the access to data has been always calling for special attention. It’s a matter of both corporate, as well as state secret protection. Put another way, the security of the Ukrainian sovereignty may depend on how secure the access to the entity’s internal data is handled. Another memorandum about the pilot project was signed recently with the New York based company Depositphotos, a creative content marketplace that allows users to buy and sell high-quality stock photos, vector images, and videos. Together with Gladius, a blockchain startup that builds the product for DDoS protection, we’re reviewing options to integrate REMME PKI (d) with their solution to build the fully decentralized product that can successfully compete with Cloudflare. Other partnerships will be announced soon, as we are finalizing our agreements.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for the rest of 2017 and 2018?

Remme: As we mentioned before, we have developed two versions of products already. The source code of version 2 is available on our GitHub. Now, we are starting the work on the third distributed version. REMME Core public alpha is planned to be delivered in Q1 2018 with further public testing and building REMME WebAuth and REMME Enterprise DApps on top of it. The release of the public system is planned for Q4 2018. The process of master node management on the public service will be fully automatic without involving REMME maintainers.
In addition to product development, expansion of our business is the highest priority for us. Until the end of next year, we plan to open sales offices in London and New York, hire dedicated sales and support teams, extend the existing marketing team, and attract around 200 clients.
We’re on course to become the industry leader in corporate access management solutions, bringing the advantages of blockchain technology to traditional companies.

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

Remme: I think that ICOs will definitely take prominence as a leading method for fundraising. We think that 90% of blockchain start-ups and at least 50% of others will use tokensales to attract investments. But everything is changing very fast and it’s hard to predict situations even a few months ahead.
There would be some changes in that process, as standards will be higher when more traditional companies start migration to the blockchain.
Regarding blockchain start-ups, I think more smart contract features will be used, including vesting, lock-up, releasing funds after reaching milestones. The interesting question is how regulation will influence fundraising. From my point of view, blockchain start-ups will find new types of fundraising during token sales, avoiding SEC and other limitations while traditional companies will start moving to regulated market issuing security tokens.
One possible method for fundraising, which will became popular during the next few months, is Initial Service Subscription, when start-ups offer software similar to Microsoft and others model, when contributors subscribe to services and tokens will be a key for enabling functionality.
ICOs will definitely be an effective and progressive way for investments even if it will change significantly.

Pre-ICO Information
The pre-ICO begins on December 4, 2017 and the price per Remme token (REM) is $0.04. REM is an ERC-20 token and an ERC-20 compatible Ethereum wallet must be used when contributing in order to receive the REM tokens. An exchange wallet should never be used to contribute to an ICO.

Participants should join the Remme whitelist here in order to apply for participation.

There is a soft cap of $480,000 and a hard cap or $3,000,000. Ether is the only accepted form of contribution for the ICO. There is a 20% pre-ICO bonus. There is also a 10% bonus for those who sign up for Remme Family, which can be found here.

ICO Information
The ICO is scheduled to begin in Q1 of 2018, with an exact date to be announced in the near future by the Remme team. The ICO hard cap is $20,000,000, and includes any amount of USD sold up to the pre-ICO hard cap of $3,000,000.

There is a 10% bonus during the ICO for the first three days and a 5% bonus during from the fourth to the seventh day. There is also a 10% bonus for those who sign up for Remme Family, which can be found here.

Token Distribution Information
There are a total of 1,000,000,000 REM tokens being generated, with 500,000,000 REM tokens for sale across the pre-ICO and ICO. The amount raised during the pre-ICO and ICO will determine how platform fees are used for the project. For more information, visit the Remme whitepaper.

The allocation of one billion REM tokens is as follows:

50%: Pre-ICO and ICO
20%: Team and founders
20%: Partners and advisors
10%: Reserve fund

Use of Crowdsale Proceeds
35%: Research and development
25%: Business development
20%: Operations
15%: Marketing
5%: Legal

Team
Alex Momot, Founder and CEO
Linkedin
Alex has held a variety of different CEO and director positions in the past, and has an array of entrepreneurial experience. He is also a supervisory board member for the Bitcoin Foundation Ukraine. Alex has his master’s degree in international finance from Kiev National Economic University.

Kate Pospelova, CMO and Co-founder
Linkedin
In addition to her role as CMO at Remme, Kate is the founder and CEO of The Muse Agency, a Ukrainian based design and development firm. She has held a handful of other high level marketing positions throughout her career.

Roman Kravchenko, CTO
Linkedin
Roman also holds a CTO and CEO position at 482.solutions, a research and development company specializing in blockchain technology. He has his master’s degree in economic cybernetics from Donetsk National University in Ukraine.

Jan Keil, CBDO
Linkedin
Jan will be handling business development for Remme, in addition to his role as vice president of marketing for Infopulse, a Ukranian based computer software service company. He has other marketing, entrepreneurial experience, and management experience, and received a degree in applied economics in 2001 from Karlsruhe Institute of Technology.

Eugene (Yevhneii) Babichenko, DApp Architect
Linkedin
Eugene is also a software developer at 482.solutions with Roman while completing his bachelor’s degrees in informatics and computerized control systems and automatics. As the DApp architect for Remme, he’ll be able to use his experience in general software and Python development.

Taras Emelyanenko, System Architect
Linkedin
Taras has experience across multiple projects in the blockchain space and has his master’s degree from Donetsk National University in AI. He has held the title of contract developer, counterparty developer, lead developer, senior software engineer and more across his career.

Social Media
Medium
Steemit
Reddit
Facebook
Twitter
Youtube
Github

View the Remme Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Remme Website, Remme, (2017)
https://www.remme.io/

(2) Remme Whitepaper, Remme, (2017)
https://drive.google.com/file/d/0B1jTRGmj_3khUV9RTERnYzNvaE0/view

Topics: Blockchain, ICO, Crypto, Cryptocurrency, Bitcoin