At NEO DevCon 2019 Bridge Protocol made a number of announcements regarding its digital identity and compliance solution. Among the reveals were Project Aver, the launch date for the Bridge Passport, the open sourcing of Bridge products, and a token burn.
Announced by CTO Alex Guba during Bridge’s presentation on day two of NEO DevCon, Project Aver is a service for “intelligent identity verification using the latest AI, machine learning and computer vision to provide the highest level of fidelity in identity verification from the real world to digital.”
Bridge claims that Project Aver will work with all government issued identities worldwide, and will feature advanced fraud detection, real-time image and video analysis for facial recognition, ethnicity, age, gender, and native language detection, and geographic location identification and analysis.
Project Aver is also said to provide substantially lowered costs and increased accuracy over competing verification providers, with a price point of “half the cost of the cheapest in the market,” according to CEO Steven Hyduchuk.
Project Aver does not have a firm launch date; however, the team is aiming to have a pilot ready in Q2 2019. It is intended for Project Aver to be the premiere KYC AML claims based provider on the Bridge network.
Bridge also announced that Bridge Protocol V1.1 would be launching in March 2019.
Bridge thanked all the community members who contributed during its beta test and acknowledged that they heard all the feedback provided.
Improvements made for the release include production network and infrastructure upgrades with reduced network fees, upgrades to the claims protocol, a refined browser extension experience with support for Chrome, Firefox and Opera (and other Chromium compliant browsers), and a new network explorer.
In addition to the launch of the Bridge Protocol V1.1, Bridge will be open sourcing all of its code including the Bridge Protocol SDK, Bridge Passport browser extension, and the partner integration modules and containers.
Bridge will also provide integration samples and documentation to help developers get started working with the tool suite.
According to Alex Guba the purpose of open sourcing is to “let the community start to really get deep into integrating.” Bridge is open to the community contributing ideas on how to extend the tools and will be available to help developers with the code.
Token Burn and Migration
Finally, in a post-presentation interview with NEO News Today, Bridge revealed it is migrating to a new token called BRDG, compliant with the NEP-8 standard. Bridge will also be burning 60% of the company held tokens, leaving the company with approximately 220 million tokens. The community will then hold the majority share of 240 million tokens.
Bridge Protocol’s NEO DevCon presentation can be found on the day two livestream replay at 4:22:14 here.
Bridge Protocol’s NEO DevCon interview with NEO News Today can be found below.