Fractal ID
Crypto Overview
Purpose and Utility
Fractal ID is a blockchain-based identity verification platform that aims to provide decentralized identity solutions. The FCL token serves as the native utility token for the Fractal Protocol, enabling users to pay for identity verification services and incentivizing validators who participate in the network.
Business Model
The platform's primary function is to provide KYC (Know Your Customer) and identity verification services for Web3 projects and traditional businesses. Users can verify their identity once and reuse their credentials across multiple platforms, while maintaining control over their personal data. The FCL token is used to pay for these services and reward network participants.
Real-World Adoption
Fractal has established partnerships with several blockchain projects and has been integrated into various platforms for identity verification purposes. The platform has processed identity verifications for millions of users, demonstrating actual utility and adoption.
Development Activity
The project maintains active development with regular updates to their protocol and infrastructure. Their GitHub repositories show consistent commits and improvements to the platform's functionality.
Token Distribution
The token distribution includes allocations for the team, advisors, and early investors with standard vesting periods. While there is a significant allocation to these groups, the vesting schedules appear reasonable and designed to align long-term incentives.
Crypto Impact
To assign a comfort level investing in Fractal ID from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Fractal ID.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.