Rated on Sep 6, 2018
It is very interesting idea but there are lot of competitor already in market. You need to make a big database of people already using system for this to be successful. Team need to spend a lot of money in marketing this. There is no MVP as well. Best of luck team.
Rated on Sep 11, 2018
Modified on Sep 14, 2018
Although the project brings a great idea on board, there is a lot of existing players in the market. The team would need plenty of resources for the marketing and advertising. I don’t think there is a real need for blockchain technology in this project. Waiting eagerly for the MVP. Good luck to the team.
Update: I was contacted by the V-ID team and I got the chance to try out their MVP. The ease-of-use and UI is top notch, hence I am updating the ratings here.
Thank you very much for your review and for the great talk yesterday.
Rated on Sep 19, 2018
Solid business team. Would like to see more blockchain developers.
Great articles on medium; and good presence on social medial.
Loved the concept of maintaining document Id on blockchain - simple nothing else. There are other projects who does lot other things including document verification.
Great MVP does exactly what it suppose to do.
Good luck team.
Rated on Sep 3, 2018
Modified on Sep 3, 2018
How to validate these documents if you dont have a big data to verify them?
Many KYC now uses manual process to validate these documents so I wonder whether you need blockchain technology to do this?
Even the softcap is low but this makes me feel concerned of its ROI and how investors can benefits from their investment?
Updated: adjusted my rating a bit after reading the team responses. Although these responses are not adressing my concerns but some of them are clear now. Good luck
Thank you for your review, we sent you a linked invite so we can have a call to talk this through. About your questions:
"How to validate these documents if you dont have a big data to verify them?"
> Our process does not rely on big data. We have an extensive validation process and a universal user friendly verification process that both utilise certain blockchain technologies. With V-ID each recipient of a validated document can verify it on V-ID.org. Validation of documents is always done by 2 or more parties. In some cases, a notary is also present. This ensures the reliability of the validated documents. You can read more about the validation process here > https://medium.com/@pim_vee/v-ids-file-validation-process-explained-fc592782e14a
"Many KYC now uses manual process to validate these documents so I wonder whether you need blockchain technology to do this?"
> The blockchain technology ensures that the validated documents, such as diplomas, certificates, incident reports and audit trails, can not be changed unnoticed. Manual checking is no proof that a document existed at a certain time. Blockchain validation is.
"Even the softcap is low but this makes me feel concerned of its ROI and how investors can benefits from their investment?"
> V-ID is already a running company with paying customers. We keep this token sale to scale up faster. Within our tokenomics model is a mechanism that shares part of the revenue with token investors through our H-Program. This means, the more growth V-ID accomplishes, the higher the bonuses awarded to the investment community. You can read about this in detail here > https://medium.com/@pim_vee/this-is-how-v-id-awards-quarterly-performance-based-bonuses-to-its-token-investor-community-160f8d1b7bf8
If you have more questions you can always contact me though Linkedin or Telegram.
Rated on Sep 4, 2018
V-ID is a very interesting project and has great potential, especially when it reaches critical mass and wide-spread adoption. The one factor that should be considered is V-ID acceptance and validation in court, and more specifically, in jurisdictions around the world. This project is innovative and could achieve great success, hence 5 stars for vision.
As mentioned in the V-ID white paper, there's another ICO - Civic - doing something similar with regards ID and documents validation and that could present a challenge in the near future. As V-ID is already established and revenue positive with customer traction, it gives V-ID the comparative advantage. First mover advantage plays a big role as once networks effects have permeated the V-ID blockchain system by a significant number of participants, the tendency is to stick with the same system. Adoption, usage and court legality need to be re-considered in a "borderless" environment which will be challenging, therefore 4 stars for product.
The team appears to be very experienced
(15-20+ years) and each has extensive expertise in their own domain. Already having 2 lawyers on the team is very useful with regards to V-ID validation and acceptance as well as court legality and admissibility. Two advisors is in my opinion not sufficient enough and should include some more outside expertise and talent to strengthen the advisor board. Taking into consideration team talent and expertise, a 5 stars is given for the team. Good luck to the V-ID team !
Thank you for the honest and well-founded review. If you want to know more about our project or if you have other questions, please let me know.
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