By creating and providing an entire ecosystem we hope to align individual security with the evolution of the Biometric Financial system as a whole. The $BioFi utility token represents a single point of ‘glue’ within the ecosystem. It verifies the value of data from its source and throughout each stage of the token lifecycle. It maintains transparency between individual users, organizational stakeholders and service providers. Furthermore, utilizing blockchain distributed ledger technology (DLT) within the BioFi ecosystem provides transparency and security through the implementation of governing smart contracts. Rendering the authenticity of services such as DeFi is as simple as “check the chain.”
The table below illustrates the high-level description of the $BioFi utility token launch. Minting completed in Q1 2022 and the Launch was implemented on April 20th, 2022. The graphs below indicate the use and emissions of the tokens over a 10-year period.
$BioFi has been conceived to foster an open and easily accessible financial ecosystem that encourages active participation of both consumers and solution-providers who recognize the importance of letting users protect and control their identity within the financial decision-making process.
Providers can independently create their own solutions by easily integrating with the BioFi ecosystem through common API interfaces. Sample solutions may deliverability to:
Individuals and organizations that utilize $BioFi will have access to unique utility rewards. Using $BioFi, holders can earn utility rewards that can be accumulated or applied to access ecosystem products and services. As an example, $BioFi rewards cannot only help offset the cost of BioFi ecosystem insurance premiums, but as rewards grow, they could completely offset the cost while paying additional utility rewards.
Through an active liquidity pool strategy, $BioFi holders are expected to be able to utilize $BioFi to fund other activities or projects. The basic proposition of BioFi is to deliver value through a simple to use portal that supports many utility services including Web 3.0 and multiple DeFi services. The common user of BioFi will experience the value of the token as rewards and expanded utility.
BioFi can also create endpoint utility value for a user through a Premium Financial Suite which represents a node on the Constellation Network’s Hypergraph system, either through a software app or from Phēnix X1 mobile devices. Users of the node will have the ability to lock up utility value and receive additional value returned over a redistribution period with increased utility rewards while also having access to the service and network and tiered reward structure available through promotions.
Users that take advantage of the network node will have the ability to generate their own utility value creation. The user will be considered part of a node cluster or a fractionalized Constellation node as defined through a grid of BioFi utility ecosystem devices. Other devices that interact with the network nodes may be introduced over time.
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Need a localized, on device (Android, iOS) authentication solution that does not access the cloud:
The important point to note here is that in this use case, BioFi is completely executing on the user’s physical smartphone without any access to the cloud or any external services. This security feature is highly desired by many companies and individuals.
BioFi on-device biometric authentication:
This solution can be integrated into existing Android and iOS apps to upgrade the security within the apps in a user-friendly and simple deployment. “On-device” means no external connectivity required to unlock and access your secure information. Implementations can be customized to the unique needs of the user to include voice biometrics, face biometrics or a combined solution of multiple biometrics. Examples within the BioFi ecosystem include the Krptic Wallet cryptocurrency/DeFi wallet and the UniSafeBox Password Manager which has the ability to securely store passwords and crypto mnemonic keywords.
Need a way to validate the originator/owner of an NFT or of an item stored in the Metaverse:
With the high growth of NFT’s and global interest in defining the Metaverse there is a fast developing requirement by many individuals to maintain integrity of the items contained within the Metaverse and identify owners of NFT’s
BioFi web 3.0 and on device authentication services:
The identification of the originator/owner of an NFT or of an item stored in the Metaverse can be accomplished with BioFi. The types of items that can be claimed on the Metaverse are endless, including such items as weapons that are utilized in gaming or the avatar associated with the real live person, which may in itself be an NFT. This is such a high growth area ripe with new innovations which makes it a perfect match for BioFi technology. The on device solution could work within apps or chip sets that are tied to gaming, immersive experiences, training systems, while the web solution would work within browser based experiences. This solution will undoubtedly include many new partnerships, along with new innovations and assist with helping expand the BioFi community.
