Sometimes ago, I was going through the process of identity verification on a website, i thought it would take me just few minutes to do it but very unfortunate for me, the verification extends from few minutes to some hours. As I was sharing this experience with my friend who also did the same registration, she told me that her own verification extended till the next day.
Identity theft is a very serious issue that lots of people have had to battle with in recent times, this to an extent is caused by the centralized system of internet operation. Some people have lost their identity in the process of filling a casual form on the internet, not knowing that the aim is to use the information collected for other purpose. Not too long ago there was news about a social media platform that was selling people's identity, it is a big crime. As matter of fact, some people have lost their life savings and investments on identity theft. A kind of situation where a person is cloned by some other people to claim the person's rights and benefits. Identity theft is a serious case!
BREAKING NEWS
There is a platform that has come to proffer the issues arising in the process of identity verification with ease this will serve a great advantage to individuals and businesses. The platform is known as Velix.ID
What is Velix.ID?
Velix.ID is a platform aimed at decentralizing the verification process using Smart Contracts, Zero-Knowledge Proofs, and Stellar Consensus Protocol (SCP) to build an ecosystem that is universal, obscure, transparent, decentralized, time and cost-efficient. Velix.ID plans to integrate its ecosystem across all major vertical like Cryptocurrency trading, real estate, travels, hospitality, banking, insurance, employment, commerce and transport. With Velix.ID
Identity verification is made easy and less cost-effective.
Velix.ID is a decentralized platform that ensures the security of the information that passes through it. All transactions on Velix.ID are stored on the blockchain technology and this ensures it's security and transparency. The identity holders need not to worry about the security of their information as the holders are in custody of the identity.
There are some people looking for the already verified identities, these refers to the identity seekers; for these people, Velix.ID has reduced the time of verification of identities they would have gone through, and for the identity holders, the verification of their identity comes with ease through Velix.ID.
There are three key players on the identity verification industry that receive great advantage through the innovation of Velix. ID
The identity Holders
Every identity holder that goes through the process of identity verification with Velix.ID, is given a unique identitification number, the number is attached to the data of the identity holder on the velix.id ecosystem. Through this method any organisation can verify the identity of the holder with velix.id, the identity of the holder is securely kept with the holders of the identity through blockchain network.
The Identity seekers
There are some organizations that seek already verified identities, they don't need to go through the process of verification of identities for their workers or clients. Velix.ID, provides such organizations with already verified identities.
The verified identity Providers
There are some organizations or institutions that verify identities of people, such organization can make use of the verified identities by Velix.ID.
Going through the long process of identity verification on some platforms on the internet might be stressful and time taking, but with Velix.ID, the process is skipped in as much as the platform accepts Velix.ID
The process of checking in and out of hotels may be hectic some times, with the availability of Velix. ID card, the process is been simplified.
Components of Velix.ID
Velix.ID exists in two forms which will make it an enduring and outstanding platform for identity verification. These are the software component and hardware component
Velix.ID cards:
This is the hard ware component of Velix.Id. It contains the information of the identity holder in an encrypted form with the user's unique velix ID number. This card can be used at any corporate organization that accepts Velix.ID as a means of identification.
Velix.ID SDK:
This is the soft ware component of the Velix.ID. It is to be installed in any NFC enabled device. This is done by a third party to authorize the device to accept Velix.ID as a means to allow people enter into a restricted area.
BENEFITS OF VELIX.ID
Identities of users are not stored with Velix.ID rather they are stored with the user, so the user is in total control of the identity information.
Identity verification on Velix. ID is easy to go through unlike some other platforms that waste time and internet data.
There is also a reduction in the time spent and the cost of verification of identity by identity seekers.
Velix.ID is not limited in scope to any particular region or country, rather it is a global initiative that cut across every where in the world in as much as it is allowed by the authority of the country.
Transactions on Velix.ID are not prone to attack and it cannot be hacked easily because they are stored in distributed ledgers which make transactions anonymous
Token
Tansactions on the Velix.ID platform would be powered by a token known as VXD tokens. The ICO price is 1VXD=1USD. VXD token price will rise as the project gain more visibility and enjoys more acceptance.
For more information
Website : https://www.velix.id
Whitepaper: https://www.velix.id/assets/Velix.ID%20White%20Paper.pdf
Telegram : https://t.me/velixID
Facebook :https://www.facebook.com/VXDID/
Twitter: https://twitter.com/VelixId
Bountyhive username: Toyo