Introduction
I had an unpleasant experience on the internet as I was trying to go through the process of identity verification on a particular website. The process I thought would not take more than few minutes took some hours to be completed.
I know I am not the only one that experience this, I am sure that majority of people would be going through similar experience on daily basis.
Identity theft
Identity theft is a serious issue that many people have had to battle with. The centralized system of internet operation has been a major route through which this nefarious activity is been carried out. Some people have lost their identity to just a casual form to be filled on the internet, not knowing that the aim is to use the information collected for other purpose.
Of recent, a popular social media platform was accused of selling people's identity which is a big crime. As matter of fact, some people have lost their life savings and investments on identity theft. A situation where somebody is cloned by some other people to claim the person's rights and benefits. Identity theft is a serious case!
A good News!
There is a platform that has come to handle the process of identity verification with ease and solve the problems associated with identity verification to serve a great advantage to individuals and businesses. The platform is known as Velix.ID.
What is Velix.ID?
Velix.ID is 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-efficient, and cost-efficient. Velix.ID plans to integrate its ecosystem across all major vertical like Cryptocurrency Trading, Real-Estate, Travel & Hospitality, Banking & Insurance, Employment, Commerce, Transport.
Overview
Identity verification is made easy and less cost-effective with Velix.ID. For those that are looking for the already verified identities referred to as the identity seekers; Velix.ID has reduced the time of verification of identities they would have gone through. Also, for the identity holders, the verification of their identity comes with ease through Velix.ID
It is a decentralized platform that ensures the security of the information that passes through it. Moreover, all transactions on Velix.ID are stored on the blockchain ensures it's security and transparency. The identity holders don't have tp worry about the security of their information as the holders are in custody of the identity.
The key players
There are three key players on the identity verification industry that receive great advantage through the innovation of Velix. ID
Identity Holders
For every identity holder that goes through the process of identity verification with Velix.ID, a unique identitification number is issued which is attached to the data of the identity holder on the velix.id ecosystem. Through this, any organisations can actually verify the identity of the holder using through that means. While the identity of the holder is securely kept with the holders of the identity through blockchain network.Verified Identity seekers
There are some organizations that seek already verified identities. They don't have to go through the process of verification of identities for their workers or clients. With Velix.ID, such organizations can make use of the already verified identities.Verified Providers
The third key player are some organizations or institutions that verify identities of people, such organization can make use of the verified identities by Velix.ID.
Use cases
- Instead of going through the long process of identity verification on some platforms on the internet, 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 my be hectic some times, with the availability of Velix. ID card, the process is simplified.
Benefits
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.
Velix.ID is is not limited in scope to any particular region or country, it is a global initiative. It 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 attacked or being hacked easily since they are stored in distributed ledgers which make transactions anonymous.
Verification of identity on Velix. ID is easy to go through unlike so platforms that waste time and internet data.
It also reduces the time spent and the cost of verification of identity by identity seekers.
Components of Velix.ID
Velix.ID exists in two forms which will make it an enduring and outstanding platform for identity verification.
- Hardware
- Software
• Velix ID cards: This hard ware component 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 company that accepts and allow Velix.ID as means of identification.
• Velix.ID SDK: This is the software component of the Velix.ID which 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.
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 appreciate as the project gain more visibility and enjoys more acceptance. It is a great project that is worthy of investment.
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: Petoz