Identity is the most important thing a human can have. Identity defines who we are. When we identify ourselves, it often needed the name, phone, social media, and address. Then, talking about social media, we have shared our identity in this platform. Most people know us through social media such as Facebook, Twitter, and others. Indeed, it is called as the digital identity. This kind of personal information makes you susceptible to spamming and identity fraud. As the consequence, the protection of digital identity is really needed. It is such a privacy for us to keep the identity to become safe as well.
Then, in this article, we will talk about Velix. The ID which is an ecosystem for all stakeholders to provide the open, secure, reliable and trusted blockchain smart contract. Velix.ID is also known as the trust-framework subscribable by all the stakeholders; whether identity holders, verified-identity providers or the verified-identity seekers. At this point, the main job of this ecosystem is to secure the identity of a person for sure.
How Velix.ID Works
This ecosystem works by identifying the number of each person to their data. In this case, the individual can use Velix.ID for their identity verification. Consequently, the verified identity can then be shared with any other organization through Velix.ID. However, you don’t need to worry as Velix.ID will not store any of this information. What makes Velix.ID great is the way it keeps securing the identity holders themselves, guaranteeing their privacy.
Velix.ID is suitable for users such as organizations who need an individual’s verified identity but do not want to invest time and money in verifying the identity themselves. Moreover, it is also suitable for any institution or business as well.
Velix.ID uses Blockchain Technology
As the consequence, Velix.ID uses Blockchain technology to support their system. The operation is supported by Blockchain by calling functions on smart contracts. You may guess what small contracts is. Then, it is called as self-executing contracts, are computer codes with an ability to automatically enforce obligations and terms of an agreement without requiring an intermediary. Further, Smart Contracts work by sending and receiving transactions.
Features of Velix.ID
- Transparent Ecosystem
As the leading identity securing ecosystem, it is a must for Velix.ID to be a transparent one. By doing this, it also allows the ecosystem to have verifiable authenticity for every transaction made on the Blockchain.
- Decentralized Ecosystem
Working with Blockchain makes Velix.ID decentralizes the whole infrastructure in a way that every institution can verify and prove the authenticity of transactions of information. This kind of ecosystem will prevent any failure as well.
- A USER-OPTIMIZED ECOSYSTEM
When building a system, then it should be user-friendly one. In the same way, Velix.ID applying user-optimized ecosystem in their system. As a result, it will help users to verify the identity. Indeed, the goal of Velix.ID is to make the identity verification process become easier.
- Trusted Ecosystem
Velix.ID has become the trusted ecosystem as it allows user to control his own data at all times.
- VXD Tokens
To enable the transactions between anyone across the world irrespective of geographic boundaries, then Velix.ID has VXD tokens as the payment platform.
As the summarizing, if you want to keep the personal identity safe and secure, then having Velix.ID as the platform is something that should be taken into account. Moreover, it is known that Velix.ID will also use ICO or Initial Coin Offering as a fundraising mechanism to allow new projects sell their underlying crypto tokens in exchange for bitcoin and others.