identity verification is now a vital component to the transaction ecosystems of eCommerce companies, financial institutions, online gaming, and even social media. Customers of various businesses, such as retail merchants, financial institutions and many more are often required to present an identification to complete a transaction forgetting the fact that giving out private informations about oneself is very detrimental.
Also, while verifying one's identity alot of time is been wasted because the documents needs to pass through some processes which can linger in days, weeks or even months before it finally gets verified and back to the owner of the documents and by so doing the main purpose for the verification of that particular ID must have expired thereby bringing about loss to the particular individual.
Furthermore, lack of trusted organisations also contributes to the major problem faced while verifying one's identity; when ones private informations gets into the hands of untrusted and unreliable organisations it leads to fraud and theft which also brings about loss to the individual.
With all the problems arising as a result of identity verification, a team known as Velix.ID has made it a point of duty to bridge this gap by building a universal, obscure, transparent, decentralized, time-efficient, and cost-efficient ecosystem for identity verification
Velix.ID also aims to become an ecosystem for all stakeholders in the IDV industry by offering an open, secure, reliable and trusted blockchain smart contract that can become the base of a trust-framework subscribable by all the stakeholders; whether identity holders, verified-identity providers or the verified-identity seeker
ABOUT VELIX.ID
This is a RegTech start-up which allows for a seamless exchange of verification over blockchain between businesses & organizations near-instantly, with the explicit consent of the user, that can be obtained in real-time.
Velix.ID platform is user-optimized (i.e. time and cost efficient), decentralized (does not store data in any central database), transparent (the authenticity of transactions can be verified by anyone), secure (even if Velix.ID systems are breached, it does nothing to compromise the User’s data), obscure (the Users’ privacy is protected at all times), and universal (near-instant ID verification without geographical restrictions).
VELIX.ID TOKENS
All transactions in the Velix.ID ecosystem are made in VXD tokens. VXD tokens are primarily utility tokens meant to facilitate the exchange of verified identities on the Velix.ID ecosystem, and not meant to be used as a trading currency.The VXD tokens are fixed in number at 100 million, when created during the token sale. There isn’t and will never be any mechanism in the smart contract to create more tokens in the future.Initially, during the token sale, the token holders will be assigned ERC20 standard VXD tokens on the Ethereum Blockchain. When the Velix.ID Blockchain is launched, the token holders will be assigned the equivalent number of tokens on the Velix.ID Blockchain (VXD).
INFORMATION ON TOKEN SALE
VELIX.ID CARD
The Velix.ID Card is a unique Identification Card issued by Velix.ID to its Users. The Card will contain all of the User’s information in an encrypted format along with the User’s unique Velix.ID number. This Card can be shared by the User, as per his/ her convenience , with any organisation that accepts Velix.ID as a form of identity verification. For example, the Velix.ID Card can be used to quicken the check-in procedures at Airports or hotels.
CONCLUSION
Velix.ID is a very unique and outstanding project that is worth investing because once it succeeds a lot of people will benefit from it, because the rate of fraud going on these days is so bad and with Velix.ID all those issues will be solved and there will be a hitch-free transactions between individuals and companies. Velix.ID is the best project I have seen so far.
TEAM
One of the outstanding part of this project is that it has well qualified team that are always ready and efficient in performing their task to see to the growth and success of this project
ADVISORS
INFORMATION LINKS
Website; https://www.velix.id/
Token sale; http://account.velix.id
Facebook; http://www.fb.com/VXDID
Twitter; https://twitter.com/VelixId
Whitepaper; https://goo.gl/dCcBa7
Reddit; https://www.reddit
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