Velix.ID: Bringing solution to Identity theft

Identity robbery is a quick-growing crime in the global, most especially in America. The Federal Trade Commission estimates that 10 million Americans experience identification robbery every yr. That's definitely plenty. With your personal ID, criminals may additionally get a credit score card, open a brand new line of credit, lease an condo, or open a cellphone account. They can almost create, or extra aptly waste, a existence at your fee. The sufferer won't find out about the robbery until after the crime is entire or till you are contacted via a debt collector. Now it is clearly lousy!

How severe is this form of crime? Identity robbery is a completely offensive crime. While some sufferers can solve troubles quickly, others spend hundreds of greenbacks and tremendous quantity of time to resolving harm to their suitable call and credit information. Some victims of identification theft can also lose out on task opportunities, or have training, housing, or vehicle loans rejected. In rare cases, humans were arrested for crimes they did now not devote.

Identity robbery can be avoided if you preserve your identity at utmost privateness. But then again quite a few prepared theft jewelry operating on line and offline to thieve your identity. These criminals are always one step in advance and constantly searching for methods to triumph over obstacles to their operations. Having stored your identification and information on any server places you at potential hazard for identity robbery.

With these types of trouble of Identity robbery, Velix.ID has come up with a great answer. Velix.ID is a platform to allow frictionless identity verification across the globe. The modern-day techniques of identity verification take too lengthy to method, incur massive financial loss for both organizations & people, and often compromise the private facts of the person. The purpose why a disruption within the identity-verification area has not yet befell is the shortage of a tested/established accept as true with-framework on which all institutions, globally, can rely upon for sharing the fees and liability of identity verification. Velix.ID aims at bridging this gap by creating an acceptable, unknown, transparent, decentralized, and cost friendly environment for verifying identity.

Velix.ID is making use of blockchain Smart Contracts, Zero Knowledge Proofs, and Stellar Consensus Protocol (SCP) to build an ecosystem that optimizes time & cost resources for each companies and customers to their maximum potential. As part of its vision, Velix.ID is also constructing NFC-enabled ID playing cards, equipments & softwares to incorporate in Velix.ID validating equipment at access-restricted areas, along with places of work, educational institutes, or metro stations and so forth.

Attractive Features of Velix.ID

Velix.ID has many top notch capabilities with the intention to make it a fulfillment:

User-Optimized
The Velix.ID ecosystem is each time & price green; the time and cost spent on identity verification is reduced in a large extent for both customers and businesses.
Transparent
Transactions on the Velix ID blockchain can be seen by way of every body. Verifiable authenticity exists for each transaction made.
Obscure
Using zero-knowledge-proofs, the stylish within the blockchain generation, the privacy of transacting events from one of a kind customers on the blockchain is protected by velix.id.
Decentralized
No single factor of failure can arise within the Velix.ID environment; compromise of a node(s) does no longer have an effect on the rest of the surroundings.
Secure
User’s facts is not saved with Velix. In the case of breaching the Velix.ID systems, it has nothing to do with the information of the user.
Universal
VXD tokens globalize the platform by way of facilitating close to-instant self reliant transactions between every body internationally irrespective of geographic obstacles.