Advanced Identity Security Platform from VerifyUnion

Now everybody in the world love blockchain, maybe more than bitcoin in the hiperbolic means. Companies doing many research on blockchain, digging its agilty and efficiency, not just making money from it. It is because the blockchain is a new technology, touching rapidly what human being need, especially to secure their identity-the basic entity of blockchain of bitcoin.

We may say blockchain today is like a protagonis on the stage of drama. It has many cast and identity perform in different areas. To secure identity in digital world, like shopping using your debit or credit card is not secure as you think. Identity stealing is the main problems with banking and financial technology today. With your identity is cracker’s hand, your money is could be lost.

You might like using PayPal service, bridge by a virtual credit card, but the process require secure internet connection. One time your internet connection is not secure, PayPal has obligation to pending your transaction. And also by first time you have your virtual credit card, you can’t transact huge amount of money.

Unfortunately, identity theft can happen to anyone and has far-reaching consequences for its victims. According to the US Department of Justice (DOJ)’s most recent study, 17.6 million people in the US experience some form of identity theft each year. This includes activities such as fraudulent credit card transactions or personal information being used to open unauthorized accounts.

The most obvious consequence that identity theft victims encounter is financial loss, which comes in two forms: direct and indirect. Direct financial loss refers to the amount of money stolen or misused by the identity theft offender. Indirect financial loss includes any outside costs associated with identity theft, like legal fees or overdraft charges. The DOJ’s study found that victims experienced a combined average loss of $1,343. In total, identity theft victims lost a whopping $15.4 billion in 2014.

VerifyUnion step a head by using Ethereum’s blockchain to make an integrated platform where users can register to safely secure digital identification. Personal information is kept in the user’s personal storage only, rather than sending it to an anonymous person or company. But of course this is an option. Personal details will be sent to the requestiong person with the user maintaining full authority over the information being transferred.

Social Trust System

Beside that basic concept, VerifyUnion develope an advanced social trust system which uses a social scoring system determine user’s level of validation within the platform. Much of this information will be derived from Social Scoring Algorithm that run parallel to the user’s digital identity. The user can then share this information when prompted to do so or reject such a request.

Users can increase their social score by providing more information about themselves and storing in their private storage and share that by using encryption under individual discretion to the requesting authorities. By using this platform, users get rewarded in VerifyUnion crypto tokens (UC Coins) and keep that for future verifying services.

The presale will be end in six days, with UC Coin unit price at 0.1948 USD. The minimum buy is 150 UC Coins or equal to 29,2 USD. With 1 ETH you will get 1540 UC Coins.

VerifyUnion Token Crowdsale Detail

Token Name: UC Coin
 Token Symbol: UCN
 Token Base: Ethereum ERC20
 Total Supply: 500 million
 Crowdsale Start: October 03, 2017
 Crowdsale End: November 3, 2017
 UCN Price: 1 ETH = 1540 UCN
 Website — Whitepaper — Announcement

Original source : ICOmagazine.com