What's Velix.ID?
Velix.ID is a RegTech blockchain startup working in the identity verification space. At Velix, we are building a platform to enable frictionless identity verification across the globe. The contemporary methods of identity verification take too long to process, incur massive financial loss for both businesses & individuals, and often compromise the personal information of the user. We are utilizing blockchain Smart Contracts, Zero Knowledge Proofs, and Stellar Consensus Protocol (SCP) to build an ecosystem that optimizes time & cost resources for both businesses and consumers to their maximum potential. In line with its mission, Velix.ID will also build NFC-enabled ID cards, devices & softwares to install Velix.ID verification system at entry-restricted areas, such as offices, educational institutes, or subway stations etc.We are trying to solve a real-world problem, and not just raise an ICO. Our primary target market are India and Australia which have over a billion identities to work with. We are aware of the other blockchain identity startups and their models as well. However, we believe that we are bringing something else entirely, in the terms of business approach, even if we are built on the same fundamental problem of identity verification.
Velix.ID has a dedicated global team that includes people from strong entrepreneurial backgrounds. Our founding team members together have over 25+ years of experience in technology, entrepreneurship, innovation, and curating successful startups. Our team has members from all over the globe, including India, Australia, United Kingdom, and the United States, and includes people from strong crypto-community backgrounds.
We are also supported by some of the biggest cryptocurrencies exchanges in India, veterans in the Identity Space, and the overall Blockchain community.
The Problem
Current Methods of Identity Verification are too slow and inefficient for both consumers and businesses — taking the cost of verifying identities to near $100 billion a year.
The Solution
- User
Decentralized
A Platform which does not store data in a central database - instead puts it on encrypted public ledger - making it safe from mass data breaches.
Unique ID
Each user registering on Velix.ID will get a unique 8-digit alpha numeric ID that is easy to remember.
Consent
User authorization mandatory for all transactions of ID information.
Trusted
User is in control of his own data at all times.
- Business
Improved Customer Experience
Users can access services easily and instantly without repeatedly requiring to sign-up or entering identity information.
Resource Conservation
- Cost The cost for new customer acquisition and identity verification comes down.
- Time The time spent in performing multiple signups, gathering and verifying identity information reduces significantly.
VXD Token Model
Grows in Value
Value grows with the growth of the Platform and demand for identity verification.
Backed by Identity
A utility token that can be used to verify/share verified-identities on an Ecosystem.
Meets Regulatory Standards
A Utility-based token model that doesn’t violate regulatory standards.
Tradable, usable, and liquid
Use to verify identities or trade/sell in the market.
ROADMAP
June 2016 Conception of the idea of a Unique ID solution
December 2016 Testing the idea on a centralized platform
March 2017 Mooting Blockchain-based trustless Ecosystem
September 2017 Velix.ID Implementation Pre-Seed Funding
December 2017 Development of the Project
January 2018 Private Sale Pre-Sale MVP Launch
February 2018 Crowdsale
March 2018 Unlocking the tokens from the Smart Contract
April 2018 Blockchain Beta Preview Launch of Early-Reward Program
October 2018 Product Public Launch (Global) e-KYC beta launch (India & Australia)
January 2019 eKYC Public Launch ‘Advanced PII’ Level Beta Launch (India & Australia)
May 2019 ‘Advanced PII’ Level Public Launch
June 2019 Operations Expansion in 10 more Asian Countries
September 2019 ‘Beyond PII’ Level Beta Launch
January 2020 ‘Beyond PII’ Level Public Launch
June 2020 Global Operations Expansion
For more Informations:
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Author: bakso.super
ETH: 0x0A39Baaa338F9F1f5f5b4e52f82095d0dD7c94D8
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