Practical use cases are the next phase for blockchain. V-ID fraud prevention leads the way.
Blockchain has been around for a while now, mostly as something that promises all kinds of technological advancements, somewhere in the future. Numerous start-ups have sprung up with theoretical benefits through blockchain, all with one hurdle still to overcome: adoption. To achieve main stream adoption, just like the Internet around 2000, blockchain must prove itself in real-world practical use cases.
This is where V-ID’s file fraud prevention service has taken the lead. V-ID’s platform is up and running, and already in use at organisations like Airbus Defence & Space, Krohne, world leader in flow measurement instruments, Maritime Cyber Alliance and Dutch college HBOD.
V-ID can validate files, like diploma’s, certificates, legal documents, audit trails, but also security footage, database exports, anything as long as it is a digital file. Recipients can verify the file’s integrity in 5 seconds with just an internet browser. This combination of security and convenience was simply not possible before blockchain technology existed.
The backbone of V-ID’s validation service is a utility token named VIDT. With every validation, a transaction with VIDT is coupled with the file, which records the file’s fingerprint and all the crucial details around the origin of the file, on the blockchain. V-ID’s customer base buys VIDT in monthly bundles to facilitate the validation of their files.
V-ID’s platform maturity allows a new organisation to have the validation service up and running within weeks.
In order to raise funds to scale up faster, V-ID is currently also offering VIDT to investors through a token sale. As V-ID’s client base and validation count grows, the investor community will be awarded quarterly bonuses, to share in V-ID’s succes. The presale is running right now, with the public sale running from October 15 until December 15.
The team behind V-ID is made up of industry veterans, ex-CTO’s and CIO’s from American Express, KPMG, Seagull, and core developers all with 15+ years experience in secure software platforms. V-ID’s homebase is in The Netherlands and the UK.
For more information, visit v-id.org.