How Will Velix.ID Disrupt The Identity Verification Space?

Velix.ID is a new identity verification platform that is set to disrupt the entire space. Traditional identity verification platforms are inefficient, costly, and slow. Businesses that utilize them often find that they are losing a significant amount of money in the process. Users that utilize them are frustrated with the long waiting periods and the inconsistent results. Nobody is truly happy with the status quo, but for a long time, the technology didn’t exist to improve upon it. Velix.ID is trying to use blockchain technology to make major changes to how we look at identity, security, and privacy. Velix.ID’s platform greatly reduces the amount of time it takes to verify someone’s identity, while also providing the privacy and security of a decentralized system. The decentralized nature of the project also helps to lower costs significantly. Here is how Velix.ID is going to change the way we look at identity verification.

The Current Identity Verification Process Is Too Lengthy

Velix.ID has an opportunity because the current process for identity verification is too lengthy and too expensive. Users have to wait for days, weeks, or even months to verify their identity. This timeframe is simply unacceptable for the cryptocurrency space. ICOs and investors can’t wait for weeks in order to have their identity verified. Velix.ID can verify identity in just a few moments, which would instantly make it a major upgrade over current systems.

Too Many Security Holes Exist In The Current System

The current identity verification systems also have a significant number of security holes. Users are forced to trust centralized parties. These centralized groups must be trusted not to share the user’s information, and to keep it protected from hackers. Too often, this doesn’t happen, and user data is either hacked or given to third parties.

Almost All Traditional Verification Solutions Cause Businesses To Lose Money

Businesses need to be cost-efficient if they want to compete. And identity verification is a quick way to lose money. Current identity verification systems are pricey and businesses almost always use these services at a loss. Velix.ID is cheap and fast, which allows businesses to stop using so many resources for identity verification. Businesses can instead use those resources on other aspects of their company.

Velix.ID has already had tremendous success getting the word out about their project (https://bountyhive.io/join/Velix.ID). The cryptocurrency industry is interested in how the project is going to compete with traditional identity and privacy solutions that are already on the market. Many crypto experts believe that if Velix.ID has success with its launch, it could become the go-to solution for ICOs that are trying to verify the identity of their team members or investors. Current identity solutions take weeks or even months. ICOs simply can’t afford to waste that much time. ICOs need to move quickly to secure investment and commercial interest, and that means getting identity verification done as quickly as possible. Velix.ID offers that and more, which is why it is likely going to be one of the crypto success stories of 2018.

Written by: liveheart
BountyHive ID: liveheart