MY IDENTITY COIN: The Crypto Asset Security Protocol for Unique Identity Tagging

What is MY IDENTITY COIN

Friends, imagine the digital currency you’ve worked so hard to earn, just like the money you keep in a bank, suddenly vanishes one day, or due to some unexpected event, you can never recover it. Heartbreaking, right? In the blockchain world, such incidents are not uncommon—every year, a large amount of crypto assets disappear due to theft, scams, or lost private keys. The MY IDENTITY COIN (MYID) project is like putting a “super lock” on your digital assets, and it even comes with a special “lost and found” feature.

Simply put, MYID is a blockchain project whose core goal is to solve the problem of stolen or lost cryptocurrencies. It uses a unique technology to tag every digital asset with a one-of-a-kind “identity label,” just like putting your name and contact info on every valuable item you own. This way, even if the asset is transferred, it can be traced back to the real owner through this label, and potentially recovered.

Beyond asset recovery, MYID also aims to offer a brand new “decentralized banking” experience, which they call the “ZeroBorder Self-Banking Center.” You can think of it as a digital bank without the restrictions of traditional banks—your money is fully under your control, free from any institutional interference, and transaction fees are lower.

So, MYID’s target users are mainly those concerned about digital asset security, seeking greater financial autonomy, and looking for lower transaction costs in the crypto space. Typical use cases include paying transaction fees, earning rewards through staking (locking up your coins to help run the network and earn rewards), and performing various financial operations in the ZeroBorder Self-Banking Center.

Project Vision and Value Proposition

The vision of the MYID project is ambitious—it hopes to fundamentally change how we manage and use digital assets, ushering in a truly secure, decentralized financial era. They believe everyone should have true financial freedom, unbound by traditional banks, governments, or middlemen.

The core problems this project aims to solve are mainly three:

• Loss and theft of crypto assets: This is a major pain point in the crypto world. MYID claims to have the world’s first and only patented solution that can quickly recover stolen or lost digital assets.
• High transaction fees: Fees in traditional finance and some blockchain networks can be high. MYID’s goal is to drastically reduce these costs, potentially saving over 95%.
• Lack of full asset control: In traditional banking, your funds may be subject to various restrictions. MYID’s ZeroBorder self-banking accounts are designed to ensure your assets are fully under your control, immune to closure, seizure, or unauthorized access.

Compared to other similar projects, MYID’s biggest differentiators are its claimed “patented recovery solution” and “ZeroBorder Self-Banking Center.” This combination of asset recovery technology and decentralized banking services is key to its attempt to stand out in the competitive blockchain market.

Technical Features

The technical core of the MYID project lies in its unique “tagging/encapsulation” technology. You can think of this as giving every transaction or digital asset on the blockchain a special “digital fingerprint” that only you possess. This fingerprint proves ownership of the asset, enabling traceability and recovery if it’s stolen or lost.

The MYID token was initially an ERC-20 token on the Ethereum blockchain (ERC-20 is a standard for creating tokens on Ethereum, like a universal template). But the project also mentions it runs on its own “Clarus blockchain.”

Regarding consensus mechanisms, a consensus mechanism is how all participants in a blockchain network agree on the validity and order of transactions—like a democratic voting system. The MYID blockchain is currently maintained by a group of “masternodes” (special servers responsible for maintaining the network and validating transactions) using the “MYID Consensus Protocol.” Additionally, they are considering and testing a “Proof-of-Stake Voting consensus,” a more energy-efficient mechanism where holding and staking tokens allows participation in network validation.

The ZeroBorder Self-Banking Center is another technical highlight of MYID, offering both online and offline services that let users access blockchain-based accounts fully controlled by themselves.

Tokenomics

The token name for the MYID project is MY IDENTITY COIN, with the symbol MYID.

• Issuing chain: Initially an Ethereum-based ERC-20 token, but also mentioned as running on the Clarus blockchain.
• Total supply: The total supply of MYID is fixed at 100 billion MYID tokens.
• Inflation/Burn: The project states there is no inflation, meaning the token supply is fixed and will not increase.
• Current and future circulation: According to CoinMarketCap, the self-reported circulating supply is currently 0 MYID. The project plans for only 10% of the total supply to be listed and circulating on exchanges, with the rest mainly provided through ZeroBorder account setup.
• Token utility: MYID tokens play multiple roles in the ecosystem, including:
  • Transaction fees: MYID is required to pay fees for transactions on the Clarus blockchain.
  • Staking: Users can stake MYID tokens to help secure the network and earn rewards.
  • Crypto asset recovery: This is MYID’s core function, with the token playing a role in the process.
  • Masternode rewards: Running masternodes on the MYID blockchain earns MYID tokens as passive income.
  • dApp development: Developers can build decentralized applications (dApps) on the MYID blockchain, with MYID tokens possibly used as fuel or incentives.
  • Content rewards: MYID can even be earned through social interaction and content creation.
  • ZeroBorder Self-Banking services: Used for various services in the ZeroBorder Self-Banking Center.
• Token allocation:
  • Team and advisors: 20% (20 billion MYID).
  • Ecosystem development: 20% (20 billion MYID), for partnerships, marketing, and ecosystem growth.
  • Public sale: 60% (60 billion MYID) for public purchase.
• Historical price info: During the ICO (Initial Coin Offering) from late 2020 to early 2021, the initial price was about 1 ETH for 437,500 to 500,000 MYID. At the end of 2024, the project held a private sale, with prices rising from $0.004 to $0.008. The all-time high for MYID was $0.33 (June 15, 2021).

Team, Governance, and Funding

The MYID project is backed by a core team including:

• Han Kim: Founder.
• Shultz Wang: Project oversight manager.
• Brandon Tee: Singapore legal advisor.
• Niranjan Singh: Technical advisor.
• Yves Bong: Singapore COO and media manager.
• Genevievette E. Walker-Lightfoot: Chief legal advisor.

This team is associated with projects like “OkGlobal Coin SWITCH” and “The Money Project,” which aim to provide comprehensive banking and financial services. They claim to have physical offices and international service centers.

In terms of governance, governance refers to how a project makes decisions and manages its development. The MYID blockchain is currently maintained by a masternode network. In the future, they are considering introducing a Proof-of-Stake voting consensus mechanism, meaning token holders will be able to participate in project decisions through voting.

As for funding, the MYID project raised funds through ICO and presale activities during 2020-2021. Additionally, a “final private sale” was announced at the end of 2024 to raise more funds.

Roadmap

Here are some key milestones and future plans for the MYID project:

Major historical milestones and events:

• Dec 2020 - Feb 2021: Token sale (ICO) launched and ended.
• Mar 30 - Apr 25, 2021: Another round of ICO/presale.
• Apr 27, 2021: Project token listed on top exchanges.
• Jun 15, 2021: MYID token price reached all-time high of $0.33.

Future key plans and milestones:

• ZeroBorder Self-Banking Center launch: The project plans to launch the ZeroBorder Self-Banking Center, offering online and offline decentralized banking services.
• More exchange listings: After the final private sale, MYID will be listed on Switchdex and other trading platforms.
• Consensus mechanism upgrade: Considering, developing, and testing a Proof-of-Stake voting consensus mechanism to improve network efficiency and decentralization.

Common Risk Reminders

When learning about any blockchain project, we need to stay vigilant and recognize potential risks. MYID is no exception—here are some common risks to note:

• Technical and Security Risks

  Although MYID claims to have a “patented recovery solution,” the specific details of this technology, its effectiveness against real-world complex attacks, and whether it has undergone independent third-party audits all require further research and verification. Any new blockchain technology may have unknown vulnerabilities. Moreover, the concept of “tagging” blockchain data for ownership verification is novel, but its security and privacy protection mechanisms also need careful evaluation.

• Economic Risks

  In MYID’s token allocation strategy, only 10% of tokens are for exchange circulation, with most tied to ZeroBorder account setup. If ZeroBorder services fail to gain widespread adoption, or market demand for MYID tokens is lower than expected, this could lead to insufficient liquidity and even affect price stability. The project’s claims about “creating huge demand and driving up prices” have a degree of market hype and should be viewed rationally. Additionally, the crypto market itself is highly volatile, and historical price performance (such as the $0.33 all-time high) does not guarantee future returns.

• Compliance and Operational Risks

  Offering “self-banking centers” and financial services, especially if some ZeroBorder accounts claim “no identity verification required,” may face strict financial regulatory scrutiny worldwide. Different countries and regions have varying regulations for cryptocurrencies and decentralized financial services, which could pose compliance challenges for the project’s operations. The project’s association with entities like “OkGlobal Coin SWITCH” and its broad financial service goals also mean a complex regulatory environment. Additionally, some old official website links may be invalid, possibly indicating operational uncertainty or outdated information.

• Information Asymmetry and Confusion Risks

  During research, we found several projects using “MYID” or similar names, such as the MyID Alliance focused on decentralized identity (DID), and the MyID Digital Identity platform. This could cause confusion, making it hard for investors to accurately identify and assess the real MY IDENTITY COIN project. CoinMarketCap shows its circulating supply as 0, and the completeness score is low, suggesting the project’s information may not be transparent or active enough.

Please remember, the above information is for reference only and does not constitute investment advice. Always conduct your own independent research and risk assessment before making any investment decisions.

Verification Checklist

When researching the MYID project in depth, here are some key pieces of information you can verify yourself:

• Block explorer contract address: The ERC20 contract address for MYID on Ethereum is
  0x5273063725a43A323300C502478C22FbB4e92C2D
  . You can check this address on Etherscan or other block explorers to view token transaction history, holder distribution, etc.
• GitHub activity: Check if the project has a public GitHub repository and observe code update frequency, community contributions, etc.—this reflects development activity and transparency. No direct info found in current search results, further investigation needed.
• Official website: Look for the latest official website. While old sources mention
  okglobalcoinsg.com
  , some info suggests it may be inaccessible. Currently, sites related to the “CLARUS Money Project” may be more active sources.
• Whitepaper: Try to find and carefully read the latest MYID project whitepaper. The whitepaper is the most authoritative document for understanding technical details, economic models, and future plans.
• Community activity: Follow the project’s social media (Telegram, Twitter, Discord, etc.) and forums to gauge discussion heat, team responsiveness, and whether there is active ecosystem building.

Project Summary

MY IDENTITY COIN (MYID) is an ambitious blockchain project that seeks to address core issues of crypto asset security and financial autonomy through its unique “digital fingerprint” tagging technology and “ZeroBorder Self-Banking Center.” The project claims to have a patented asset recovery solution, which is certainly an attractive selling point given the frequent crypto asset thefts today.

MYID’s vision is to build a decentralized, low-cost, and user-controlled financial ecosystem, providing users with true financial freedom. Its token, MYID, plays multiple roles in the network, including fee payments, staking, incentivizing node operation, and serving as the core of ZeroBorder services.

However, as a blockchain research analyst, I must remind you that any innovative project comes with risks. The specific implementation and real-world effectiveness of MYID’s “patented recovery solution” need more transparent disclosure and independent verification. In its tokenomics, most tokens are tied to ZeroBorder accounts, which may affect market liquidity. Additionally, offering “self-banking” services, especially under the “no identity verification” claim, could face complex regulatory challenges.

In summary, MYID presents an intriguing solution aimed at solving major pain points in the crypto world. But its technical maturity, market acceptance, compliance, and team execution all require us to remain objective and cautious. Before considering participation in any such project, it is strongly recommended to conduct thorough research, review all available official materials, and fully understand all associated risks. This is not investment advice—please make decisions carefully.