This Blockchain startup Will Fix One Of The Biggest Issue We have Been Facing
If you live in India, you might have noticed that one of the topics of discussion all over the media, is the safety of Adhaar card which is managed by the Unique Identification Authority of India. A security researcher from France has claimed that he was able to collect 1000 of Aadhaar cards within hours. Adhaar card like any other document when submitted to a 3rd person is at risk. Anyone could use your documents without your consent. Identity theft is one of the major issue faced by individuals all around the world.
I just came across a platform which can fix all these issues. The platform is named Velix.ID. At first, I was sure about it but I spend a couple of mins on their website and was mind blown. Velix.ID is a blockchain based decentralized global platform for frictionless identity verification. While mucking around their site, I thought of different ways on how to get around their system. I couldn’t think of one. It’s very neat and secure. If you ever used 2- Factor authentication, you will understand what is Velix.ID. Don’t get me wrong, even though they are similar, they use different technologies. Velix.ID uses the amazing blockchain technology which is transparent, decentralized & secure. Our personal data is stored on our mobile device instead of the main server. If anyone wants to access your information, they won’t be able to do it without your consent. When an organization wants to verify your identity, they can request for it and you will get a confirmation screen on your device, from there you can reject or approve the request.
Know your customer(KYC) is mandatory for all the digital payment wallets in India. While most of them have electronic KYC, there are still who haven’t done this because building an e-KYC platform requires a lot of investment, so these wallets who can’t afford this sticks to the old method of in-person customer verification. I still haven’t done a couple of KYC’s’s because they don’t have e-KYC. Velix.ID is not yet ready for the public but I am sure organizations who can’t afford to build verification from scratch can go to Velix.ID. Sign up here to become a partner.
I saw couple use cases on their site and I can say the future is bright. Check out their website and learn more about them. Be a part of this amazing platform by participating in their token sale. I am excited to try out Velix.ID soon!