What Happened to Iddriven Inc(OTCMKTS:IDDR)

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Iddriven Inc(OTCMKTS:IDDR) has come down significnatly since the recent runup it made out of sub penny land and $0.0015 lows to highs of $0.02 on big news from the Company quickly attracting a large shareholder base who is betting this one goes higher.

IDDR initially hit the OTC in early 2016 after the name change from TIXFI Inc. and was trading over $0.50 a share before the stock collapsed hitting double zero lows.

Iddriven Inc(OTCMKTS:IDDR) out of Sacramento, California is at the forefront of the new breed of Identity Management and Access Governance as a Service (IDaaS) solutions. These solutions are allowing continuous control over identities and applications as organizations manage their on-premises and/or move their applications further into the cloud.

IDdriven is a modular suite of IDaaS products delivering Role Management, Access Certification, Reporting, Self-Service and Zone Based Access Control. IDdriven can be provided on-premises or completely cloud based and delivered to you “As-A-Service”. IDdriven lets businesses manage access across applications, users, and devices.

The IDdriven team has a long reliable experience base in Identity and Access Management. IDdriven has locations in the USA (HQ) and the Netherlands.

IDDR has been on the move since the Company released comments about the new GDPR regulations in Europe. GDPR is a new regulation defined by the EU which will take effect from May 25 2018. It does apply automatically to all EU members. GDPR governs the processing of personal data.

It is applicable to all entities which process personal data of people in the EU, regardless of their size, industry or legal structure. The regulation is not only applicable to companies in the EU, but also applicable to entities outside the EU which process data of people in the EU.

To enable companies to prove compliance with these regulations, the definition mentions the ‘Certification bodies’ which can provide certificates. Although that helps companies to be in control, it does not guarantee to be compliant.  To be compliant a company or organization must: Define the purpose of the data they own and/or process. Document the process of data processing. Minimize the amount of data to fit the purpose of processing. Have measures in place to make sure that the data is only available to employees, partners or other parties, which should be able to approach the data, according to the purpose. ot being in compliance can lead to big fines.

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IDdriven provides an Access Management and Access Governance solution that helps others to define, control and audit the access to business systems and business data. It will not make you compliant to all GDPR regulations, but it will help you in improving your compliant to GDPR by clearly defining who can access the data that is stored on your system.

On September 13 IDDR announced comments on protecting data against unauthorized access. Last week’s information about sensitive data of 143 mln people stolen by hackers from a major credit reporting agency, and impacting almost half the US population, again puts the spotlight on protecting data against unauthorized access.

A recent study shows that 50% of ex-employees can still access corporate apps and documents after they leave the company, and in a number of cases have been responsible for data breaches.

The internal threat of data leaks and data breaches is real and is something that has to be mitigated with automated identity and access management systems like IDdriven. A problem that is growing as corporations are storing more personal and sensitive data and the ability to sell and monetize this data by ex/disgruntled employees is easier than ever before.

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Currently trading at a $500k market valatuation IDDR has little assets or revenues and rising short term debt. But IDDR is an exciting story in small caps. the Company is at the forefront of the new breed of Identity Management and Access Governance as a Service (IDaaS) solutions and they could be in very high demand in the EU once the new GDPR regulations take effect from May 25 2018. IDDR has proven that it can run and currently sits at the top of many speculators watch lists. We will be updating on IDDR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with IDDR.

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Disclosure: we hold no position in IDDR either long or short and we have not been compensated for this article.

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