Review Velix.ID
Velix.ID - a project to create a global block platform for user identification.
According to the project developer, about 100 billion dollars is spent annually for identification verification, and losses due to the amount of identity fraud up to $ 200 billion.
Issue authentication verification method
" The existing identification methods are too slow and inefficient, both for consumers and for identification business identification costs of about $ 100 billion per year, " says Velix.ID project developer.
The current identification verification method currently has a number of serious problems :
- Time Consumption : The current authentication process can take from several days to several weeks;
- Confidentiality : data stored in a centralized database at risk of being stolen and sold by intruders;
- Security : personally identifiable information (PII) leaked at various stages of the verification process;
- Financial loss : the process of verifying personal data leads to significant financial costs for the company.
Troubleshoot this problem from Velix.ID
According to project developers, they can solve the problem of high cost, security and long data verification with the blocking and storage of decentralized data.
Solutions from Velix.ID for users :
- Decentralization : Velix.ID is a platform that does not store data in a centralized database, but all data is placed in the block, which makes it safe from massive data breaches;
- Unique identifier : any user registered with Velix.ID will receive a unique, easy-to-remember 8-digit alphanumeric identifier;
- Trust : all Velix.ID users can continue to monitor their data;
- Approval : user authorization required for all identity transactions;
Solutions from Velix.ID for business :
- Improved customer experience : users can easily and directly access the service, without requiring re-registration or entry of identification information;
- Cost : Velix.ID platform reduces the cost of storing user identification information;
- Save time : the time required to perform more than one registration, collection and validation of information is greatly reduced.
Main feature
Velix.ID platform developers highlight the main features of the platform:
- Optimization : Velix.ID ecosystem is effective both in time and cost; the time and cost associated with identification verification is significantly reduced for both users and businesses;
- Confidentiality : using the zero-knowledge-proofs (zero-disclosure) protocol, the Velix.ID block ensures the confidentiality of information from other network members;
- Security : user data is not stored in Velix.ID, but stored in a decentralized way, so even if the Velix.ID system is compromised, data will not be lost.
Method and method of identifying the application
According to the project website, Velix.ID can be used in cases like:
- Provide information about the previous workplace : At present, the company does not have a reliable method for verifying and authenticating summaries, reference letters, and other data that can tell about a person's work at a previous workplace. The Velix.ID platform offers services such as validating the details mentioned in the summary. Such services may be requested from each certification authority through the Velix.ID ecosystem.
- Check-in Arriving at the hotel : Every time you register at the hotel, guests need to register by filling in some lengthy forms and providing identification information. Sometimes it takes a long time and during the trip it can feel boring. With Velix.ID, users can only transfer their alphanumeric ID and all personal information and documents will be sent to hotel management.
- Online store shopping : Whenever buying on the Internet, buyers must enter their personal information, such as your full name, phone number, email address, residential address. With a unique 8-digit alphanumeric Velix.ID, this process can be automated, and users will be able to register with an online store using Velix.ID without having to enter their personal information while shopping.
Distribution Tokens
The total supply of VXD tokens is 100 Million
VXD is an ERC-20 compatible token on the Ethereum blockchain.
- Allotted VXD tokens: 50 Million
- Token Type: Utility Token
Aim:
- For sale in Private Sale, Presale, and Crowdsale.
- Soft Cap: $ 2.5 Million
- Hard Cap: $ 25 Million
All unsold tokens from token sales will be burned.
Availability:
- Token will be directly sent to ERC-20 investor wallets through smart contract.
Fund Allocation
- Product Development 45%
- Partnership & Marketing 25%
- Operational Cost 20%
- Research 5%
- Legal 5%
JUNE 2016
- CONCEPTUALIZATION - A unique universal blockchain-based ID for each individual
JUNE 2016 - MARCH 2017
- RESEARCH & DEVELOPMENT - Testing the concept over Bitcoin's, Ethereum's, Stellar's and other available blockchains
APRIL 2016 - NOVEMBER 2017
- VALIDATION - Architecting the idea with a hybrid blockchain of Ethereum and Stellar validation of idea by technical advisors
DECEMBER 2017
- PUBLIC LAUNCH - Concept launched publicly - Website, White Paper, and Public Communications, presenting the idea to potential advisors & partners
NOVEMBER 2017 - MARCH 2018
- TEAM EXPANSION - Seed-funding raised, team expanded with Developers, Blockchain & Smart Contracts Experts, and PR, Strategy, and Marketing Professionals
JANUARY 2018
- MVP & SMART CONTRACT - Minimal Viable Product developed and launched on play store, and Smart Contract Deployed
APRIL 2018
- TOKEN SALE - Presale and Crowdsale for the VXD tokens with bonuses
MAY 2018- OCTOBER 2018
- MVP BETA TESTING - MVP & Velix.ID Blockchain beta testing & development as per feedback from industry experts and Ecosystem users
NOVEMBER 2018
- PRODUCT PUBLIC LAUNCH - Velix.ID App launch for PII Level 0, 1. Functional for use-cases such as e-commerce, KYC, etc. Users Identified: 130 Million
JANUARY 2019- DECEMBER 2019
- OPERATIONS EXPANSION I - Expansion to 10 other Asia-Pacific Countries for PII Level 0.1. Users Identified: 200 Million
OCTOBER 2019
- PRODUCT UPGRADE I - App expanded to support PII Level 2. Functional for use-cases such as Hotel booking and Employment Details
JANUARY 2020-JUNE 2021
- OPERATIONS EXPANSION II - Further expansion in Asia-Pacific and Western Europe. Users Identified: 300 Million
MAY 2020
- PRODUCT UPGRADE II - App expanded to support PII Level 3. Functional for use-cases such as Medical Records
JULY 2021-DECEMBER 2022
- OPERATIONS EXPANSION III - Expansion in Asia, Europe, Africa, and the Americas. Users Identified : 500 Million
Team
Advisors and Investors
Media
- Topics in the forum : https://bitcointalk.org/index.php?topic=2721724
- Project site : https://velix.id/
- Technical Documentation : https://www.velix.id/assets/Velix-White-Paper.pdf
- Twitter : https://twitter.com/VelixId
- Facebook ; https://www.facebook.com/VXDID/
- Githab : https://github.com/velix-id
- Reddit : https://www.reddit.com/r/VelixID/
- Usually : https://medium.com/@velix.ID
- Blog : https://blog.velix.id/
- Telegram line : https://t.me/velixID
BitcoinTalk : https://bitcointalk.org/index.php?Action=profile;u=1505192
ETH : 0x0bF3d407cF25D98886d707d2355E7Cd00191c142
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