Illuminates (LUM)

The project Illuminates is developing a first social ecosystem that is making all blockchains advantages available. It will advance interaction between investors, freelancers, and startups. The best solutions and instruments will be gathered within one platform to help professional development and implementation of the most revolutionary ideas. The key elements of the system will be personal data and files hashing, smart contracts with oracles, load balancing and minimization of commissions due to the best configuration of decentralized and centralized parts of the ecosystem.

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Interest lvl

Medium

Updated: May 09, 2020

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Ticker

LUM

Type

Utility-token

Token standard

ERC20

FoundedUkraine

Registration countryUkraine

What is Illuminates

WHAT WE DO?

We are developing new blockchain-based technology - Relatefacts, which will allow checking Business(professional) relations history and actual expertise of remotely located counterparty, no matter if it individual or legal entity

OUR MISSION

We want to make remote business relations safer, more transparently and completely eliminate such concepts as: scam; fraud; fake accounts, portfolios, and expertise; data spoofing;

HOW THE RELATEFACTS WORKS?

First of all, the system will generate user very own hashed ID, based on user personal data (or legal documents for entities). From now on, when users participating in any reputation affecting business activities, they hashed ID will be tethered for it and used in Relatefacts smart contracts. Those contracts will gather information about: how event was completed, how the participants rate each other, how the verified off-chain experts (oracles) rate the results - and using mathematical formulas, calculate the reputation score.

RELATEFACTS FEATURES

The platform is being developed by the technology company Illuminates, that has more than ten years of IT-services experience and since 2011 has been successfully engaged in the development and promotion of startups. Since 2017 the company has also been engaged in a number of ICO projects. With all our experience we analyzed every twist and turn of this business, determined advantages of both centralized and decentralized solutions, and eventually came up with a unique concept of the ecosystem, that would ensure effective interaction between all ICO market and crypto community.

The platform will unite investors, funds, startups, and freelancers interested in working on particular projects and participating in ICO/ITO bounty campaigns, as well as official training centers, co-working centers, specialized hubs, and charity organizations.

The key elements of the system will be personal data and files hashing, smart contracts with oracles, load balancing and minimization of commissions due to the best configuration of decentralized and centralized parts of the ecosystem.