A global platform for frictionless identity verification Read our White Paper

Transcription

1 A global platform for frictionless identity verification Read our White Paper

2 MISSION Velix.ID is 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. The reason why a disruption in the identity-verification space has not yet occurred 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. Velix.ID aims at bridging this gap by building a universal, obscure, transparent, decentralized, time-efficient, and cost-efficient ecosystem for identity verification. We, at Velix.ID, are envisaging a world, where the individual controls his/her own personal information and what information they share with whom. Velix allows for a seamless exchange of verified identities between businesses & organizations near-instantly, with the explicit consent of the User, that can be obtained in real-time.

3 Problem Businesses & Individuals face several challenges with the contemporary identity verification methods: Financial Costs Time Consumption Security Concerns Privacy Concerns The process of ID Verification inflicts significant financial costs to both Businesses and Consumers. Current processes of identity verification can take from days to months depleting resources otherwise capable of generating revenues. Personally Identifiable Information (PII) is leaked at various stages in the ID verification processes which leads to unsolicited use. Data stored in centralised locations are vulnerable to multiple and mass data breaches & risk exposing the identity of the user. 3

4 Solution A decentralised ID verification process that is secure, obscure, decentralized, transparent, universal and cost-optimized for the user as well as businesses. 4

5 VELIX ECOSYSTEM BLOCKCHAIN TECHNOLOGY PII Personal Identification Information ECOSYSTEM Users 5

6 USERS IDENTITY HOLDERS IDENTITY PROVIDERS VERIFIED- VERIFIED- IDENTITY SEEKERS Any individual can join the Velix.ID ecosystem as an Identity Holder. Each Identity holder will possess a unique Identity number to which all of their data will be associated and can be used for their identity verification. Institutions or business that engages in the process of verification of identity related information of an individual or a business qualifies to be an identity verifier on the VelixID blockchain. Any business which needs an individual s verified identity but does not want to invest time and money in verifying the identity themselves can use the Velix ecosystem as verified Identity seekers. 6

7 PII Level 0. Basic PII Basic Unverified PII like Name, , Phone, Address. Level 1. Verified PII Basic PII but verified information by verified identity providers for the purpose of KYC. Level 2. Advanced PII Non-standard and industry specific data like Passport, SSN, Aadhar number, Healthcare card, Tax File Number Level 3. Beyond PII Extra information like Educational qualifications, work experience certificates, government records etc which needs to be verified by the respective institution

8 BLOCKCHAIN Technology SMART CONTRACTS Smart Contracts are automated agents on the Velix.ID blockchain that allow computational and size universality, autonomy, time and cost efficiency, security and privacy. STELLAR CONSENSUS PROTOCOL (SCP) SCP allows decentralised control, low latency, flexible trust, and a symptomatic security. ZERO KNOWLEDGE PROOFS Zero-knowledge proofs allow a user to construct a mathematical proof, such that, a given program, when executed on some (possibly hidden) input known by the user, has a particular (publicly known) output, without revealing any other information. HIERARCHICAL DETERMINISTIC (HD) WALLETS A HD wallet, or Hierarchical Deterministic Wallet uses a 12-word master seed key, over which an unlimited number of new addresses can be built up in a hierarchical and sequential tree-like structure using BIP 32. 8

9 PRODUCT FEATURES USER-OPTIMIZED Velix.ID improves the efficiency and reduces the time and costof identity verification. DECENTRALIZED No single point of failure. Compromise of one node does not compromise the entire system. TRANSPARENT VelixID ecosystem provides verifiable authenticity for every transaction made on the blockchain. SECURE No storage of User data with Velix.ID. Breach of Velix.ID does not compromise User data. OBSCURE Use of zero knowledge proof ensures that the information about transacting parties is kept hidden from public view. UNIVERSAL Velix ID is a global platform. VLX tokens facilitate nearinstant transactions between any people across the world. 9

10 TOKEN DISTRIBUTION X10

11 Road ahead Velix.ID Card NFC Reader Velix.ID SDK A unique Identification Card that will contain all of the User s information in an encrypted format along with the User s unique alphanumeric Velix.ID number; allowing them to avail services and check-in to restricted areas blazingly fast. An NFC enabled device that can be installed at any place where restrictions on entry are required; the device will restrict the entry to only those Velix.ID users who have been granted access by the concerned authority. A software that can be installed to any NFC-enabled device by a third-party manufacturer to allow the device to accept Velix.ID as a method to authorize entry to a restricted area. X11

12 ROADMAP January 2018 Private Token Sale MVP Launch Pre-sale February 2018 CrowdSale March 2018 Token Allocation and Exchange Listing Alpha Product Release September 2017 Velix.ID conception and Pre-seed Funding June 2020 Global Operations Expansion June 2019 Operation Expansion in 10 more Asian Countries October 2018 Product Public Global Launch e-kyc beta launch (India & Australia) Detailed Roadmap is available on the website. 12

13 team and partners Manav Singhal CEO & Co-Founder Balwant Singh CTO & Co-Founder Shivam Mehan Head of Operations Piyush Gupta Tech Lead Neer Varshney Head of Communications & Outreach Mike Cunningham Community Head Pulkit Rawal Bounty Manager Vibhor Jain Community Moderation Abhinav Gulyani Launch Strategist Guangling Yang Smart Contract and Blockchain Soudamini Mallick Digital Marketing Piyush Goel Front End Developer Utsav Shaw Public Relations Aquil Sultan Graphics Aajay Cunningham Community Manager, Australia 13

14 ADVISORS and partners Mohit Kalra Strategic Advisor (CEO, CoinSecure) Julian Smith Strategic Advisor (CEO, Blockfreight) Simon Noonan Technical Advisor (CIO, sportsbet.com.au) Mark Povey Technical Advisor (Co-Founder, Centrality.ai) Himanshu Bindal Strategic Advisor (CEO, OneCo.work) 14

15 CONTACT US Find us on White Paper

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