Xenchain is a new startup Malaysia ICO which they provides a platform for Identification Verification and security for your personal data. The concept for Xenchain is to provide accurate data acquisition , verification and storage for any personal data with the blockchain technology, making any unauthorised access likely impossible.
This concept can be used for a very wide range of services including but not only gaming, online purchasing, e-commerce, online transfers , digital banking, healthcare, traveling, ICO and social media where personal detail are mostly required to perform certain transaction or verification. This process will require your personal information directed to the 3rd party where in the middle of process , your personal info might be easily exposed to others. Tokens will be given as a verification reward for verifying an identity just like how miners completes a blockchain transaction and gets crypto-coins as reward. Thus Xenchain is inspired to provide a one to one encrypted personal information using Blockchain where verification are done by multiple verifiers yet without leaking any personal information to any unrelated parties. The personal info will less likely susceptible to cyber attacks due to the security nature of Blockchains.
Currently Xenchain is still within ICO phase where people who wish to invest in this technology can do so by purchasing their offered token during crowdfunding. Meanwhile one will wonder why investing in Xenchain is that they are supported and invested by multiple big organization in Asia continent such as TNG, intelWise, Xendity , CLX and many more.