Topic: [ANN][ICO] Velix.ID - A Global Platform For Frictionless Identity Verification - page 4. (Read 10567 times)

Demand for the tokens:
The demand for the VXD tokens is expected to rise for the following reasons:
VXD tokens are utility based. The utility of the token is to improve on the existing methods of managing and verifying identities, and due to the shortcomings of the existing methods, more businesses and organizations will sign up for Velix.ID to access an increasing number of services in a more time & cost efficient manner.
It will always be more cost-efficient to verify identities through the Velix.ID ecosystem than through fiat or other contemporary methods of identity verification.
Velix.ID will be a preferred substitute over the existing methods
VXD tokens are cyclical in circulation, with reward mechanisms for both Verify dIdentity Providers and the Verified-Identity holders. Apart from its primary utility, the VXD tokens can also be exchanged for other crypto currency or other products or goods on a marketplace especially designed for this purpose. This ensures active circulation and demand for VXD tokens, even for the people who may not want to utilize the tokens for the purpose of identity verification.

Supply of the tokens:
The total supply of the VXD tokens is capped at 100 million tokens and the launch price on exchanges of VXD tokens will be USD $1.
The partners at Velix.ID buy/are offered Verification Stamps, the equivalent value of which in number of tokens is locked into the smart contract, and cannot be exchanged sold/dumped by the partner.
These tokens are released only when the verification stamps are utilized to verify identities on the Velix.ID ecosystem.
For a model case, suppose a partner has been offered 1000 Verification Stamps (i.e. 100 VXD tokens), then the 100 VXD tokens are locked into the smart contract, and when the partner utilizes 1 Verification Stamp, the equivalent value of VXD tokens (i.e. 0.1 VXD or 10,000 VELs) is released from the smart contracts.
This ensures that the supply of the tokens is restricted primarily to its utility.

 PROOF OF ELAPSED TIME (PoET) VXD tokens themselves cannot be mined, but there is a transaction-based reward program for nodes that successfully host the Velix.ID Block chain nodes. This reward will be made on the basis of the proof of elapsed time (PoET) consensus protocol as developed by Intel. The Proof of elapsed time requires much less electricity consumption as compared to the proof of work and proof of stake consensus protocols, thus democratizing this process to allow even individual contributors to be able to successfully host the nodes. The Up time to host the node will be rewarded from the Velix.ID PoET pool; with each minute spent being rewarded with VXD (native Velix.ID tokens). There will be added incentivesfor the early participants in this program, as well, with each Request Processor node getting additional 0.01 VXD from the available 15% pool of tokens held during Crowdsale; the reward for each minute of successful hosting will also be doubled for the early participants in the program. The early participation program will cease to end when a sufficient number of nodes have been hosted.

Velix.ID aims at solving the problems of financial costs, time consumption, privacy, and security concerns in the Identity Verification Space by introducing a decentralized Ecosystem for Identity Verification that puts both Users and Businesses at an advantage. Such a 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).

The personal identification Information of an individual has grown leaps and bound In the last three decades, but the methods of verification have not quite caught up. While recent innovations like the United Nation's ID 2020 initiative, New Zealand Govt.'s RealMe, and Sweden's BankID and Indian Government's AADHAAR Card are attempts at simplifying this process; 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. Velix.ID aims at bridging this gap by building a universal, obscure, transparent, decentralized, time-efficient, and cost-efficient ecosystem for Identity verification.

Time Consumption
Current process of identity verification can take from days to weeks to months; depleting resources otherwise capable of generating revenue.
Privacy
Data stored in centralized locations are vulnerable to multiple and mass data breaches & risk exposing the identity of the user.
Security
Personally Identifiable Information (PII) is leaked at various stages in the ID verification process which leads to unsolicited use.
Financial Loss
The process of ID verification inflicts significant financial cost to the businesses.

We would like to welcome, Simon Dixon, the CEO & Co-Founder of BnkToTheFuture.com, who has joined the Velix.ID advisory team. Simon will be advising us on business development and funding.

About Simon Dixon

Simon Dixon is the CEO & co-founder of online investment platform BnkToTheFuture.com who have invested over US$280m in FinTech, Bitcoin and Blockchain companies. An ex-investment banker turned Bitcoinder & author of the book ‘Bank to the Future’. An active FinTech, Blockchain & Bitcoin angel investor with investments in Bitfinex, ShapeShift, BitPay, Unocoin, Kraken, BitPesa, BitStamp and over 100 others. You will find Simon regularly quoted & appearing in much of the major press & media including BBC, FT, CNBC, Reuters, Bloomberg, Wall Street Journal to mention a few.

On Joining Velix.ID,  he said:

As an investor in some of the major crypto exchanges in India, I think Identity is a major problem for the sector. While there have been blockchain identity startups that have done well, it is appreciable that Velix.ID has chosen a target market that is completely devoid of any blockchain identity startups, and that they have their own idea and implementation of the technology. I figure that India as an emerging global economy has a lot of potential that can be further explored with blockchain technology, and it will be thrilling to see the decentralization of Identity for a 1.3 billion strong population. I believe that Velix.ID has a strong team and that is why I am glad to be an advisor for this project!

Simon has been one of the earliest supporters of Bitcoin and has been involved in the industry pretty much since the beginning. His experience in the industry — having already raised a highly successful token sale — makes him a vital value addition to the team.

Velix.ID team gives Simon a warm welcome!

Find out more about Velix.ID and our Crowdsale at Velix.ID

Join us on Telegram

When Initial Coin Offerings first began, it was a good thing to look forward to, as crypto enthusiasts were always so eager to be among the first set of token-buyers, because the ICOs then were transparent and straightforward, however, with time, investing in ICOs has become not as pleasurable as before, and this is due the fact that there are so many ICOs out there that are not what they really say they are. While some ICOs are full of gimmicks, some are really profitable. It is imperative to do proper researches before investing in ICOs. Here are some Dos and Don’ts with regards to investing in ICOs:

Do’s

Study the Whitepaper: Before the release of an ICO, the company usually releases a whitepaper first, and this whitepaper contains elaborate details about the whole project, including the idea, and process to achieve the idea. Here are some things to look out for when going through the whitepaper:
What the idea is and it is being made for.
The details of the team members and advisors, including what they’ve achieved prior to starting this ICO.
Availability of a market for the service/product, including their competitors.
Technical low down of the project’s execution.
The distribution of the token or coin, including its usage.
Roadmap of the project’s future.
ICO details, including the number of tokens, hard cap, distribution, crowdfunding etc.
If you check the whitepaper and it has detailed explanation about the list above, the ICO just might be credible.

Check the Team: It is important that you check the team out, to ascertain if they are really capable of handling the project. Check each member out via their social profiles, with that you are able to get some information about them and their past achievements.
Check popular Cryptocurrency Forums: org is a very popular forum that usually has announcements of ICOs, search for the particular ICO you are looking for, then go through questions and answers between forum members and the ICO team, and it is also important to check for words like pre-mine, mlm, scam, etc.
Social Presence: Check their different social media accounts and check how active they have been, no new age company that wants to thrive can do so without a great deal of help from the social media, if they have a social media account with low number of followers, and low activity, then there may be a problem.

Don’ts

Don’t Risk Everything: Like the proverbial saying of not putting all your eggs in one basket, the same principle applies to ICOs, it is not advisable to invest all you have in one ICO.
Do not Sell at the First Opportunity: Be patient, the prices of these cryptocurrencies keep increasing, hence do not jump at the first opportunity to sell.
Do not Invest what You cannot Afford to Lose: This is the ultimate don’ts of all, and it is self-explanatory.
 

If you have some doubts about the “dos”, that may just be a clear indication of an absolute “don’t”.

Our Crowdsale is LIVE!! To participate visit Velix.ID.

If you have any questions or concerns, please ask in the officialTelegram community of Velix.ID, or email at [email protected].

It is the 17th of April 2018, 11:59 PM GMT, and the Velix.ID crowdsale is live!

To participate in the crowdsale, sign up at https://account.velix.id/signup

Currently, you can signup using either your Google or Facebook account, or create a new account using your email ID.

Once you have logged in, you will see your account dashboard,

You can then input the amount you would like to invest in Velix.ID, and you can accordingly see the number of VXD tokens you will receive based on the bonus you are receiving.

The bonus structure for the crowd sale is as follows:


The two special bonuses, PowerUp and PowerHour are as follows:

PowerUp: During the first 24 hours of the token sale, there will be an added bonus of 5% VXD tokens on all purchases made within this timeframe, for all Users on the Velix.ID platform. The PowerUp bonus will also be available for the first 24 hours of a new User signing up on the Velix.ID token sale platform.

PowerHour: Velix.ID will announce 2 power hours per week for the entire period of the token sale. There will be an added bonus of 5%  VXD tokens for these periods that will each last 60 minutes. The exact time at which these power hours start will be decided by voting through the community members, and will be announced 24 hours in advance before the Power Hour starts.

The ETH price will be pegged at 1 ETH = 600 VXD throughout the token sale, unless the price of Ethereum increases during any point of the token sale, at which ETH will be pegged against its live price. This is done in order to ensure the best deal for VXD token buyers in the crowd sale.

The payments are processed through Coinpayments, and you can choose to pay in any of the 11 cryptocurrencies that are accepted.

-Bitcoin (BTC)
-Ethereum (ETH)
-Bitcoin Cash (BCH)
-Dash (DASH)
-Litecoin (LTC)
-Ripple (XRP)
-NEM (XEM)
-Monero (XMR)
-NEO (NEO)
-ZCash (ZEC)
-Verge Coin (XVG)

Remember to check the box about reading the token sale agreement, privacy policy, KYC policy, and other documentation.
In order to receive the VXD tokens, you will have to provide your ERC20 compatible Ether Wallet Address.
Please remember that exchange wallet addresses are not ERC20 compatible. Use of Metamask or MyEtherWallet is recommended. For further instructions on ERC20 compatible Ether Wallets, see here.
You will receive your VXD tokens once the crowdsale has ended.

Crowdsale ends: 15th May 2018

Our Smart Contract Details are as follows:

Etherscan URL:

https://etherscan.io/token/0xfdfD5dB568f2eCF9b06a16116B9201b0500735B4

Smart Contract Address:

0xfdfD5dB568f2eCF9b06a16116B9201b0500735B4

Symbol: VXD              Decimals: 18

If you have any questions or concerns, please ask in the official Telegram community of Velix.ID, or email at [email protected].

We have got news — Velix.ID MVP is out on Play Store!

The MVP, acronym for minimum viable product,  is a prototype on which the product is expected to expand further. The current Velix.ID MVP allows users to create a profile and update their basic PII details on it, along with uploading a photograph. These details are stored on the user’s own device or on their cloud, but no information is stored with Velix.ID.

The app will be expanded further to include authentication log of the details, support further levels of PII, and allow attestation of information through blockchain. Some of these changes will be announced in the coming days, and the rest will occur post the token sale.

Here’s an introduction to the existing MVP for you.

You download the MVP from the Google Play Store here.


When you open the Velix.ID app, you get the following screen allowing you to either generate a new Velix ID or logging in with an existing Velix ID by using the ‘Restore Velix.ID’ option.

Technically, it is possible to create multiple Velix IDs with the same email address, since the data is never stored with Velix.ID and there’s no way to tell if an email address is attached to an existing Velix ID.


To create a new Velix ID, users are simply required to enter their name and email address.


Ta-da! You have got a new Velix ID. You can now upload a photo to be associated with your Velix ID.

From the settings, you can choose to backup your data on Google cloud, in case you end up erasing your phone’s data. If you want to later restore this data, you can do so using the restore button in the settings as well:


The Velix.ID crowdsale begins April 17. Sign-up now on and get notified when the day arrives. 5% Bonus for the first 24 hours! Find out more about Velix.ID and our crowdsale at our site.

Join Us on Telegram!

What i see at the moment is very impressing and interesting. I think the team has the experience to build something new and amazing. I really think this project can be a big success in the future. Wich you the best for this project.

A carefully planned project and an experienced team is behind this project. Absolutely reliable.

 Please kindly check the pinned message for more information about the project. If you have any questions, please feel free to ask...

I really want to subscribe to this project for participation in Bounty

This is the best project. I advise you to join.

good project 

No otc exchanges are over the counter exchanges, meaning that you transact with someone from this forum privately. That's very dangerous though because you have the counterparty risk and also it's difficult to think of a fair market price in that way.

We would like to welcome, Mickaël Fourgeaud, co-founder of Primablock and partner at Fenixo , who has joined the Velix.ID team as an Investment Advisor.

Mickaël is the co-founder of Primablock, a Smart Contract As A Service (SMAAS) company for investment pools. He has been a driving force behind developing the technology of Primablock. Mickael has spent his life perfecting R&D, productization, and entrepreneurship, and his biggest interest is to work with and bring high end technology and UX to users as a mean to solve real problems. His recent focus other than Primablock has been on conducting research on communication and coordination of swarms of drones, VR/AR and Game Development.

Based on his enormous experience in the Cryptocurrency space and his expertise in technology and investments, Mickaël is an incomparable addition in the Velix.ID team, and his experience will help Velix.ID grow to new heights.

Velix.ID team gives Mickaël a warm welcome!

Find out more about Velix.ID and our Crowdsale at Velix.ID

Join us on Telegram

The dates regarding the exchanges will be announced, once the token sale gets over and regarding OTC exchanges VXD tokens can be exchanged for any other cryptocurrency. All the dates and plans will be announced after the token sale.

Cheers!!

It is evident that the company conducts decent work with the audience!The project is actively developing, open to its audience, has already a lot of hot fans.I will monitor the project, but now we can say that it deserves attention. And ready to become a potential investment!