Personal identification information (PII) can be said to be any data that could potentially identify a specific individual. It is any information that can be used to distinguish one person from another. While, the Personal Identification Verification (PIV) is a common credentialing and standard background investigation process required by Homeland Security presidential directives.
The personal identification information of an individual over that last 3 decades has grown leaps and bounds, but the methods by which these information are verified has not quite catch up. Despite some recent innovation like the United Nation's ID 2020, New Zealand Government's RealMe, sweeden's Bank ID and Indian Government's AADHAAR card being some attempts to simplify the process. Sadly, all these innovations lack protection when it comes to privacy of an individual because there is lack of a tested, proven trust framework on which all institutions, globally can totally rely on for sharing the cost and liability of identity verification.
Presently, identify verification is a lots of problem and trouble because anywhere and at anytime you find yourself, you are required to present your ID, these IDs are usually government approved such as the Voter ID, Passport, etc. Individuals need to move around with these IDs every time and present them to any organization requesting for it and these gives rise to another process of verifying whether the ID is genuine or not which later result to massive financial loss for both the organization and the individual.
People are seriously concerned about their safety and security over their personal identifiable information like
- Who will own their personal data when they share it,
- Can the organization requesting for the data share it with anyone else without the owners concern,
- Worried if their information is not subjected to cyber attacks and secure with the organization, and lots more because the personal identification information PII is not that sensitive.
- People really do want to know who their data is shared with, who can access it and where it's being published because there are lots of rising risks when it comes to letting out personal data to some organizations.
So individuals are more concerned about their privacy, if they are well protected when they share their personal data or information with any organization. With these, there is need for a proper way to handle the identity and privacy in this 21st century.
With the velix.ID aim at solving the problems of financial costs, time consumption, privacy and security concerns in the identity verification space by introducing a decentralized ecosystem of ID verification that puts both the Users and the organisation at an advantage.
Features Of Velix.ID
- It is time and cost efficient
- It does not store data in any central data
- It is more secured and protect user's privacy at all time,
- It operates under a transparent process allowing anyone to verify the authenticity of transactions
the velix.ID ecosystem
The velix.ID User
ID Holders:
With the velix.ID ecosystem, all identity holders will have a unique identity number to which all of their data will be associated. Organization can be asked by the identity holders on the ecosystem to verify their identity on the velix.ID Blockchain. All the information remain secured.
Verified Identity Seekers:
Organization can use the velix.ID ecosystem to verify individual's identity without investing time and money in verifying the identity themselves. And if the identity of an individual has already been verified by an organization, the process does not need to be repeated by other organizations to verify the same identity again.
Verified Identity Providers:
The organization that can engage in the proces are educational organizations, banking institutions, multinational companies, businesses or even government organizations.
Roadmap
The VXD Token
This is an utility token and it is to improve on the existing methods of managing and verifying identities.
source
It can also serve as an exchange for other cryptocurrencies, products or goods.
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