Identity is part of our daily lives, this comes from generations of how we identify ourselves. From gender (male or female) to country or tribes, these forms have gone through quite a revolution. In Africa identity even goes back to pre-colonial ages with the help of tribal marks and the way people dress. People differentiate each with this means.
Identity nowadays are all organized and in various forms from government issued ID card, to Passports and Voters ID card. These identities take a long process to acquire and it cost a lot for government to provide, also the process of verification of these IDs take a long time and they can be faked. The issue of fraud identities and advanced technologies also calls for digital identities. The online community is becoming bigger everyday and we share a lot of information about ourselves every day. From names to addresses to phone numbers and emails.
A digital identity is information on an entity used by computer systems to represent an external agent. That agent may be a person, organization, application, or device. ISO/IEC 24760-1 defines identity as "set of attributes related to an entity". The way we interact with the internet and share our information on various sites has gone to another level because we don’t think twice before we share this information. This is because we think the internet is safe and nobody can hurt use with our information. During your interactions on the internet, you end up putting in a lot of information about yourself on the internet. It could be something as simple as putting in your name, gender, and email ID, or putting in more intimate information such as date of birth, residential address, phone number, medical records, or credit card details. Is it actually safe to share all that information on the internet? Can that trust be established with random websites on the internet to share personal information that gives away your identity and makes you susceptible to spamming and identity fraud even? In fact, it is not just the random websites on the internet that you need to be wary of. You share your personal information everywhere. You give out your personal information while ordering a pizza, opening a bank account or a trading account, buying a new SIM, or applying for a new job; and, this is just the tip of the iceberg. If you take a moment and think about all the interactions you have made in the past one day or one week, you will realise how many times you end up giving out information that compromises your privacy.
IDENTITY VERIFICATION
Personal Identity information(PII) have grown in the last three decades, Governments and organizations have improved the system of identification by giving individual an identification number that is connected to a database where their information is stored and can be fetched with the number when needed. While recent innovations like the United Nation’s ID 2020 initiative, New Zealand Government’s RealMe, Sweden’s BankID and Indian Government’s AADHAAR Card are attempts at simplifying this process of identity verification; they all lack in protecting the privacy of the concerned individual. The primary reason why a disruption in the identity-verification (IDV) space has not yet happened is the lack of a tested/proven trust-framework on which all institutions, globally, can rely on for sharing the costs and liability of identity verification. Privacy of information is just one major flaw of the identity system and digital identity can be hacked nowadays. The issue of stolen identity is becoming rampant and many people are scared to use it because it contains a lot than just their identity information but also bank information. This is possible because the database is a centralized storage, so hackers know where to hack. What if there is a way to have a decentralized information database and identification verification network that will not have each user information but each user will be able to keep their information and have control on how they share it.
VELIX.ID
Velix.id wants to create a network of identity and identity verification that will be secured and will reduce cost incurred by government and organizations in the process of identity verification.
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.
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Velix.id platform is user-optimized (i.e. time and cost efficient), decentralized (does not store data in any central database), transparent (the authenticity of transactions can be verified by anyone), secure (even if Velix.ID systems are breached, it does nothing to compromise the User’s data), obscure (the Users’ privacy is protected at all times), and universal (near-instant ID verification without geographical restrictions).
USERS OF VELIX.ID
IDENTITY HOLDER
Anyone in the world can be an identity holder on velix.id platform and they will be attached with an ID number which they can give to any organization to verify their identity. Once identity have been verified by an organization the information can be shared with another organization, but this information will not be held by Velix.id but each user carries their information and will choose how they share it.
VERIFIED-IDENTITY SEEKERS
Organizations who need to verify identities of their customers or employees can use Velix.id platform for that. Once information of an individual has been verified before by and organization using velix.id the process of verification doesn’t need to be repeated. But identity holder consent will be needed for information to be transferred between organizations.
VERIFIED-IDENTITY PROVIDERS
Any institution or business that engages in the process of verification of identity related information of an individual or a business qualifies to be a Verified-identity Provider on the Velix.ID blockchain. These can be educational organizations, banking institutions, multinational companies, businesses or even government organizations.
HOW IT WORKS
All operations on the Velix.ID blockchain are executed by calling functions on smart contracts. Smart contracts on the blockchain, also called self-executing contracts, are computer codes with an ability to automatically enforce obligations and terms of an agreement without requiring an intermediary essentially relegating control to a computer program a very important requirement for establishing any kind of trust framework among parties who don’t otherwise trust each other. A Velix.ID Smart contract is essentially an automated agent that lives on the Velix.ID network, has a Velix.ID address and balance, and can send and receive transactions. A contract is “activated” every time someone sends a transaction to it, at which point it runs its code, perhaps modifying its internal state or even sending some transactions, and then shuts down.
VXD TOKEN
| Token | VXD |
|---|---|
| Price in ICO | 1 VXD = 1 USD |
| Country | Singapore |
| Whitelist/KYC | Whitelist |
| Restricted areas | Singapore |
| preICO start | 27th Jan 2018 |
| preICO end | 17th Jan 2018 |
| ICO start | 17th Apr 2018 |
| ICO end | 15th May 2018 |
FOR MORE INFORMATION
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Thanks for reading I’m Samkol on Bountyhive.io
Just as you said:
This solves a lot for employees and companies alike, no need for repitition and funds waste
This is a very good project, knowing that I can make fortune by providing my personal information to a safe platform make it the best project around. Really can't wait
Something great is about to happen in crypto world with Velix. This is sure a great project.
Grrrrhhhh, my identity, my life... If velix.id will handle it in such a way that it stays in my control, then i am good... Thanks for bringing the point and project up
Identity theft has done enough damage, with velix.id people can be secured knowing they are protected and their identity is in their hands.