ICO launch. Product launch.
Technically: validate that the owner of
an Ethereum wallet has passed an ID
background check stating that they are
not part of a restricted set of users (e.g. US
citizen or individuals on official watchlists).
The background check is run via a third
party, namely Onfido. The ICO Pass team
has set up a smart contract system to
record the outcome of the background
check on the public Ethereum blockchain,
i.e. whitelist Ethereum addresses that are
owned by non-restricted users.
Legal point of view: doublecheck with
all the regulators in different countries
how to even more effectively meet their
Business: attract first ICOs from Europe.