Every day people pass their personal data for various purposes, whether it is a loan or insurance, orders in the online store, buying plane tickets, registration in the hotel, registration on a variety of sites and much more. However, the system used for data protection is outdated and does not provide the proper level of protection. Constantly personal data are stolen by criminals and used by them for illegal actions. The most innocuous thing they can do is send spam. Although often confidential information is sold, it is then used to steal money, issue loans in banks, register SIM cards, active and Intrusive advertising and other things. Thus, the quality of protection of personal data remains low, and the popular technology of decentralization will be used to solve this problem.

The Velix.ID project creates a decentralized identity confirmation ecosystem using blockchain technology, which reduces costs, saves time, securely and privately stores users personal data. The main advantages of this platform is that it is resistant to network attacks, clear, global and will have a payback financial system. System Velix.ID is completely open, easy to check the validity of the transaction. Verification of personal data is carried out almost instantly, despite the geographical location of the user.

Velix.ID is created on the basis of a secure and open algorithm that provides easy access for any interested parties. It can be already the registered owners of the identity of the individual, the organization using the platform to identify the person trusted organizations that provide services for identity documents.

Thanks to this project, personal data such as name, surname, passport data, address of residence, taxpayer identification number, credit card number and other will be in a safe place, and access to this data is carried out through a unique code on the Velix.ID platform. So, you will not need to carry a bunch of documents that can be lost or spoiled. All data is encoded on the blockchain, and decide how to use them will be the user.

Any person in the Velix.ID system will be considered as a source of data for identification, i.e. the holder of identification data. Each owner of the identifier in the ecosystem will be assigned a unique number, which is used to link all the data provided. Such a user can apply Velix.ID to verify the identity of, and the owners of these e-certificates will have the right to confirm their data when interacting with various organizations. All personal information will be stored in a decentralized system by the users themselves and will be protected from loss by multiple backups.

If a company or organization needs to verify the identity, and the company does not want to spend a lot of money on such operations, the Velix.ID platform offers an excellent solution for identity applicants. Platform services will identify the individual. If the user has already once passed the procedure for verifying the identity at the request of any company, then the same verification procedures are not needed again. The user will have to approve the transfer of their personal data to an organization.

A kind of know-how on the Velix.ID platform is the separation of data by levels, according to the varying degree of importance of the stored data.

1) the Initial level, where the assignment of a unique identifier, ensures the storage of basic information: address, phone number. Used for in-store or online purchases,

2) Basic level. Here you can store your first name, last name, date of birth, biometric data. Used for online orders, shopping in stores, correspondence and other.

3) Advanced level. There are already added passport data, taxpayer identification number, credit card number, health insurance number, business cards and others. Now it will be easy to register at the airport, KYC for trading on the exchange or participating in ICO, registration of SIM cards.

4) The highest level. It stores data on open accounts in banks, personal real estate, various insurance, medical history, information on visas, loans, insurance proceedings and so on.

Transaction the exchange of identifying information on the platform Velix.ID will be carried out using internal token VXD standard ERC20 that use the blockchain Etheteum. The issue of these tokens is 100 million, 50 million units are available for purchase on the ICO. Over time, the creators plan to move to their own blockchain Velix.ID. The price of one coin is equal to 1 dollar. The minimum amount of Fiat funds that the creators of the project hope to attract is 2.5 million, and the maximum is 23.8 million us dollars.

The project team presented a fairly detailed road map of the project until 2022. Over time, the project will be improved and refined.

In the future, it is planned to issue a special identification card that stores personal data using reliable encryption algorithms. It will be used for instant verification process in any institutions, whether hospitals, airports, shops. Over time, the release of a specialized device Velix.ID Reader, which will read the data from the ID card and allow access/entry, will be adjusted. This device will support NFC (Near-field communication) technology.It will be installed in institutions where only a limited number of people have access. It can be a Bank vault, prison, security rooms in shopping centers, military facilities, quarantine zones and much more. Over time, the project team will develop special software for all NFC-enabled devices.

The team consists of professionals with extensive experience.

The Velix.ID project is promising and solves problems with the protection of personal data. Quite an interesting ICO for investment, at least it is worth reading on the official website.

Site: https://www.velix.id/

WhitePaper: https://www.velix.id/assets/Velix.ID%20White%20Paper.pdf

Twitter: https://twitter.com/VelixId

Facebook: https://www.facebook.com/VXDID/

Telegram: https://t.me/velixID

Bounty: bountyhive.io/r/ivanleon

https://bountyhive.io/join/Velix.ID?from=ivanleon