- This is not financial advice.
- Investitin.com staff are not financial advisors.
- This is not a buy, sell or hold recommendation.
- Do your own research before you invest in anything including this project.
- This interview is not a suggestion or an endorsement of this ICO or any other ICO or any cryptocurrency.
- This article has been published for free.
- Investitin.com staff are considering buying Remme tokens.
- Your capital as at extreme risk when investing in ICOs and cryptos.
- Please consult your local financial advisor to verify if this project is considered as a security before you invest.
Interview with Alex Momot CEO and founder of Remme
Can you introduce yourself and explain your role in REMME?
I’m the founder and CEO of REMME, a role that I’m very proud to have. I first got into cryptocurrency in 2013, then I learned about Ethereum and participated in its ICO in 2014. Ever since I’ve been fascinated with the crypto space and the many possibilities it affords. In 2014, I found myself operating BitX together with my REMME co-founder Kate. With BitX, were enabling people to pay for everyday services using bitcoin.
I am also honoured to be a member of Bitcoin Foundation Ukraine, the organization which aims to raise awareness of bitcoin and blockchain technology in the country and to encourage cryptocurrency adoption. Having been involved in bitcoin mining since 2015, I’ve also built up experience in this sphere and became Head of Business Development at a firm specializing in the manufacture of bitcoin mining equipment.
What is REMME?
REMME is a platform designed to eliminate the need for passwords, thus dramatically reducing hacks and system break-ins. We ultimately want to make passwords obsolete, removing the risk of human error from the authentication process.
REMME is designed to make Access Management easier and more efficient. This is achieved by building a distributed Public Key Infrastructure protocol and accompanying DApps on top of a decentralized blockchain. A public key infrastructure (PKI) is a set of roles, policies, and procedures which are required to create, manage, distribute, use, store, and revoke digital certificates. This standard, which also handles public key encryption, is based on SSL/TLS certificates. These are widely used in enterprise solutions from tax services to banking.
The possible use cases for a passwordless authentication system don’t just end there though. Pretty much any internet connected device, from a laptop to a car, supports SSL/TLS. As a consequence, all of these devices could potentially benefit from having their network secured by REMME for IoT. The critical point when it comes to traditional PKI is the trusted certification authority and centralized architecture, and that’s what we’re looking to strengthen, using the power of a distributed ledger, or blockchain.
There are two primary components that makeup REMME:
REMME PKI (d) protocol: this uses a custom blockchain with bitcoin anchoring. Nodes are employed to confirm the stability of the system. The open source REMME Protocol enables anyone to build their own DApps with the aid of REMME SDK.
REMME DApps: REMME WebAuth, REMME Enterprise and REMME for IoT are a series of DApps that will be developed during the first stage of the project. REMME mail and REMME sign will also be introduced further down the line.
What is the advantage of using REMME rather than traditional login systems for
REMME can be described as a next-gen data protection solution because it removes friction and enhances the user experience. All of the security aspects that REMME tackles, it does whilst providing high value:
– It frees businesses from a reliance on centralized storage and virtually eliminates the risk of user credentials being leaked.
– It also does away with weak means of protection: REMME isn’t simply another password-based system – it’s a solution which eliminates the need for passwords altogether.
– In 80% of cases, REMME actually makes passwords and PINs obsolete.
– It minimizes the single biggest point of failure in organizations – humans, who are susceptible to things such as phishing and social engineering. With no password to acquire, there’s a limit to what cybercriminals can steal.
What are the costs of using REMME to do business?
REMME is free for its end-users, so consumers who rely on the service to keep their data secure won’t pay a penny. The only charges will be to companies wishing to integrate REMME, who will be obliged to pay for the DApp. The annual price of running REMME has been estimated at $1 per user and pricing will be pegged to fiat currencies using an oracle. This will be necessary in order for currencies to sync, because the system is linked to Bitcoin and Ethereum and it’s thus essential that it can access the prices of these cryptocurrencies in real time.
How will end users benefit from using REMME?
When building REMME, one of our key considerations was that it must be simple for end users to log in. For any technology to achieve widespread adoption, it needs to have a user-friendly interface, and the concept needs to be understandable even to less technically-minded individuals. We believe that REMME attains a balance between security and convenience. We certainly have no desire to compromise on network security in our quest to create a clean interface.
Compared to other access management solutions, we see REMME holding four key advantages:
1. Fast and simple authentication process. Logging into the website using REMME on a desktop device takes just two clicks to authenticate: Click on the “Log in” button on your computer and confirm authentication via smartphone.
2. Convenient 2FA options. Our user-centric approach, which includes support for basic 2FA options, allows individuals to use an existing messenger like Telegram. Many people feel more comfortable with using apps that they are already familiar with and have installed on their phone. One of the reasons why many integrations of new software fail is because users resent having to sign up for a new service and undergo yet another process.
3. Security of personal data. The certificate is generated and stored on the user-side. No-one – not even REMME – has access to this data.
4. Easy certificate revocation process. In the event of a user losing their device or the unlikely event of a certificate being compromised, the certificate can be easily revoked using a Telegram account (or another personal messenger), email, or email + PGP key. The revocation process will depend on the REMME installation mechanics specified by the service provider.
In practice, what are the differences for the end user between traditional login systems and REMME?
Instead of a password, the user generates an SSL certificate for each device. The process plays out as follows:
1) First go to the website – i.e example.com – and click the “Log in” button
2) If you’re a first-time visitor, there will be a form where you should fill in such fields as phone number and email
3) Confirm your email and phone number
4) Click on the “Generate certificate” button and install the certificate (the whole process takes around 30 seconds)
And that’s it. You will be able to log in immediately after completing the final stage. The next time you visit, the only thing that will be needed is to confirm your session by tapping “OK” in messenger.
What will the REMME tokens be used for?
REM token boosts and powers the whole ecosystem, operating as a license or digital key that grants its holders access to the REMME PKI (d) protocol and various DApps. Token holders will be able to use the REM token in a number of ways: for certificate generation, revocation, node creation, and fees covering conversion of fiat payments.
What are the requirements to operate a REMME node?
The framework underpinning the REMME blockchain includes a separate type of nodes, called master nodes, which are responsible for handling new block production. Anyone can run a node which stores the whole blockchain for verification purposes, though we anticipate that most operators will want to run a light node only. In this case, they won’t be required to store the whole blockchain, only the segments of data that are needed to verify the user’s operations, which will take up less storage space and be faster to sync.
Right now, we’re in the process of finalizing technical requirements for nodes that will be covered in our yellow paper which is planned to be published before the public sale stage.
What are the incentives to operate a REMME node?
Each node operator must have a specific amount of tokens to be able to operate within the network. Every time there’s a need to generate a certificate for an end-user, nodes will be rewarded with REM tokens. The tokens provided as a commission that can be up to 90% of the certificate generation price.
What stage is the REMME software at?
Since starting REMME in 2015, we’ve put in extensive development time and the product has been through several iterations to reach the stage we’re now at. With the second version of the product, built on top of the Bitcoin blockchain, the transaction is spent only when a certificate is revoked. The source code for this version is available on our GitHub for inspection. We’ve now commenced 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. Then, the release of the public system is planned for Q4 2018.
At the start of 2016, we introduced pilot projects with five companies from different sectors, ranging from a hardware manufacturer to an online healthcare portal. Then, on October 17th 2017, we opened applications to our 2018 Pilot Program, and have already had more than 80 great applicants contact us, which is really exciting. We’re especially proud to have signed the memorandum on pilot project implementation with the Ukraine’s state-owned company Ukrinmash. Another pilot project memorandum, one of a very different nature, was signed recently with the New-York based Depositphotos, a creative content marketplace that allows users to buy and sell high quality stock photos, vector images, and videos. Then there’s Gladius, a blockchain startup that builds product for DDoS protection. We’re reviewing options to integrate REMME PKI (d) with their solution to build a fully decentralized product that can successfully compete with Cloudflare. Other partnerships will be announced soon, as we are currently finalizing our agreements.
What is the hard cap for the Initial Software Offering?
The overall hard cap for pre-sale and public sale stages is $20m, but it’s may be reduced if the price of ethereum rises too much few days prior the public sale. Let me explain this a little bit: we’ve received a number of queries regarding what happens in the event of ethereum surging in value before REM tokens are issued. In the past, some participants in token generation events have found the value of their purchase to have diminished versus that of ethereum by the time the token was distributed. To combat that, we’ll be introducing an airdrop for pre-sale buyers. This will top up their account balance with additional REM tokens to the value of any potential increase in Ethereum’s dollar value. The program is described in detail here: https://medium.com/remme/introducing-ethereum-price-protection-for-remme-pre-sale-participants-271b349e7c80
Thus, the final hard cap amount will be counted based on remaining tokens, after an airdrop.
What are the pre-ico and ico dates?
The pre-sale ends on December 25th, we’ve raised an approximately $1,8 million during this stage. The public sale is planned to be held in February 2018. The specific date will be announced soon.
What is the founders’ reward?
The team (existing and future team members obtaining key positions) and founders will get 20% of tokens issued with two years vesting and six months cliff.
What are the benefits of becoming a token holder?
Among many opportunities, we think a major one is the ability to establish a node and be rewarded for operations inside the REMME network. As we’re on course to become the industry leader for corporate access management solutions, REMME’s business model and usage of REM tokens will enable us to bring millions of enterprise security spendings and potential clients into the crypto space.
For more information please visit: https://remme.io/
We thank Alex Momot for the interview.