As of 3rd Feb 2018, CoinMarketCap lists 8494 Markets with new coins added on the platform every single day.
The modern day romance with digital currency scaled new heights in the month of May 2017, when the total funds raised in ICOs surpassed angel and seed stage internet VC funding globally!
ICO Fundraising Surpasses Angel & Seed Stage Internet VC Funding Globally
While this exponential rise in ICOs has warranted greater adoption, awareness and investments in cryptocurrencies, over the past year we have also seen an incremental rise in crypto hacks, scams and identity fraud in the sector.
Investors flood Social Media channels like Slack, Facebook and Telegram enquiring about how soon the coin would be traded on exchanges, or what multiplier would it open on the exchanges.
With lack of due diligence in the ICO ecosystem, the digital juggernaut needs the protective wrapper of a secure identity verification provider like Velix.ID to survive.
Ever since we’ve announced our presale we’ve been approached by 10+ ICOs to help them with the painful process of identity verification. But as they say, one man’s trash is another man’s treasure!
The Velix ID ecosystem is the perfect solution to current ICO woes as we provide a complete end to end identity verification/KYC solution.
Time and Cost efficient ICOs
ICOs usually either take too long to verify identities or lack the resources to verify them properly. With Velix, the time and cost incurred in verifying identities is reduced significantly – a win win for investors and ICOs
With multiple scams and ICO hacks, Velix ID ensures that No single point of failure can occur in the cryptocurrency ecosystem; compromise of a node(s) does not affect the rest of the ecosystem.
User’s data will not be stored with the Initial Coin Offering providers, not with Velix. This means even if the ICO or Velix.ID systems are breached, it does nothing to compromise investor data. This itself is the reason why Velix ID is a must for ICOs to sustain their explosive growth.
Using zero-knowledge-proofs, the latest in the blockchain technology, Velix.ID blockchain will also ensure that the privacy of transacting parties from other users on the blockchain.
If you’ve been verified for an ICO, the next ICO you participate in can simple request your authenticity from the previous one – an incredibly efficient and useful offering for the Initial Coin Offering ecosystem.
What’s more, we’ve already partnered with Bitxoxo, CoinSecure and Bazista, to facilitate their token sale KVC and Identification Processes (our inbox is flooded with requests from upcoming ICOs and we’re LOVING IT!!!)
All this and more will be powered through our VXD Token which will be used for every interaction within the Velix ID ecosystem.
If you’re interested in grabbing VXD Tokens, click here to find out more!
Alternatively, if you’re looking to join the ICO bandwagon yourself and would like us to lend a hand, feel free to reach out to us directly at email@example.com.