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A Universal Ecosystem

Velix.ID is a RegTech blockchain startup working in the identity verification space. At Velix, we are building 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. We are utilizing blockchain Smart Contracts, Zero Knowledge Proofs, and Stellar Consensus Protocol (SCP) to build an ecosystem that optimizes time & cost resources for both businesses and consumers to their maximum potential. In line with its mission, Velix.ID will also build NFC-enabled ID cards, devices & softwares to install Velix.ID verification system at entry-restricted areas, such as offices, educational institutes, or subway stations etc. We are trying to solve a real-world problem, and not just raise an ICO. Our primary target market are India and Australia which have over a billion identities to work with. We are aware of the other blockchain identity startups and their models as well. However, we believe that we are bringing something else entirely, in the terms of business approach, even if we are built on the same fundamental problem of identity verification. Velix.ID has a dedicated global team that includes people from strong entrepreneurial backgrounds. Our founding team members together have over 25+ years of experience in technology, entrepreneurship, innovation, and curating successful startups. Our team has members from all over the globe, including India, Australia, United Kingdom, and the United States, and includes people from strong crypto-community backgrounds. We are also supported by some of the biggest cryptocurrencies exchanges in India, veterans in the Identity Space, and the overall Blockchain community.

2 1 expert rating
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9 days 4 hours left
2018-02-01 - 2018-02-28
1 VXD = 1 USD
Soft cap
2,500,000 USD
Hard cap
25,000,000 USD
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About Velix.ID

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 unsolicitated use.
  • Financial Loss
    The process of ID verification inflicts significant fincancial cost to the businesses.
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