Identity has become more crucial at this time especially with the massive development of digital technology. In the past, human identifying themselves with their other tribe, but at this time we already changed that paradigm. We can identify our self without connecting with other humans, in ourself simple way we can individually id your self by putting our personal information about yourself on the internet through social media like Instagram, Twitter, and etc.But, is that safe to share our personal information on the internet? Of course not. There is some reason that makes you think twice, identity theft, unwanted advertisement, cyber victimization, invasive agreements, and minor’s safety. Velix.ID is being introduced to overcome those problems by serving decentralized ecosystem for identity verification.
What is Velix.ID?
Like what has been said before, that Velix.ID is introduced to overcome those identity verification problems, by serving a decentralized system for identity verification and integrating both users and business in one system. The company of Velix.ID expected that Velix.ID can be solved the financial costs, time consumption and make it more efficient, privacy that make it more secure. The target market of Velix.ID is all the stakeholders of IDV industry. Velix.ID also serving the blockchain technology including a smart contract.
Some Beneficial Features of Velix.ID
As a multifunctional platform, Velix.ID is serving all stakeholders of IDV industry by many beneficial features as, Universal ecosystem, the first superiority if Velix.ID is its ability to universalizing their platform, which means Velix.ID is not limited to any specified country or region boundaries. Secure Ecosystem, like we already know one of the weakness from an old platform of IDV industry is its centralized system that can be lacking the user's information, Velix.ID is no longer use that kind of system. They use the decentralized system and make all the user's information stored in distributed ledger system (blockchain), beside that the presence of smart contract also gives more secure to this platform because of its ability to govern all the transactions that doing by all users. Transparent ecosystem, since the Velix.ID is using the blockchain technology, all the transactions that happen within the ecosystem are completely transparent and authentic. User-Optimized ecosystem, the problem of high cost and high time consumption become problems that want to solve by Velix.ID, that's why inVelix.ID the platform is serving the user-optimizing ecosystem that can reduce time consumption by faster the time of verifying and identifying the transactions, besides that Velx.ID also will be decreasing the costs drastically as only small fee had to be paid.
Velix.ID also coming up with the Stellar consensus protocol (SCP) that based on federated byzantine agreements system (FBAS). This condition makes all membership within Velix.ID ecosystem is not set up by any central authority or closed negotiations.
The Velix.ID Tokens
Like other platforms, Velix.ID also using tokens for all the transactions that happen within its ecosystem. The Velix.ID token or can be known as VXD tokens, its basically utility tokens and only used for all the exchange of verified identities within Velix.ID ecosystem, and will not be used as a trading currency. VXD tokens are based on ERC20 standard which means very easy to integrate to another Ethereum contract. The total supply of VXD tokens is 100.000.000 tokens which are created during the token sale or ICO. Then the VXD is divided into a smaller unit that is called VEL. 1 of VXD will be equal to 100.000 VELs. The aim of this deviding is to make the individual identity verification procedure easier for all users of Velix.ID. When we doing the verified-identity transactions, we will using the Verification Stamps (VS) within Velix.ID ecosystem 1 VS will equal as 0.1 VXD and equal as 10.000 VELs. We do one identity verification transaction on Velix.ID it will costs as one stamp of Verification Stamps (VS).
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Author:
bitterdog
ETH: 0x939e987B687d1E21d175340C02373bdDCEe31Bc7