Real time identification either in the digital or non-cyber world via blockchain applications is a hot area for development.
Third party, so-called “trustless” identification, in real time, is one of the most intriguing aspects of blockchain technology. There are many different ways to accomplish this task. However, proof of identity, either online or in person, is a task that people no longer trust paper documents for. The modern world and the changes that are already here, also requires better, easier-to-use solutions that are now coming to the market.
Identity theft and fraud costs consumers more than $16 billion in 2016 (the latest numbers are not available for 2017 yet). And that is not just “all” online hackers.
According to the American Department of Justice, in-person “spoofing” happens more frequently than people realize – until they are a victim of fraud.
Such fraudulent impersonations (usually for the purpose of stealing something with a highly recognized economic value) can also happen just about anywhere and to anyone.
That is why blockchained proof-of-identity applications are being enthusiastically welcomed by a market that needs them. And even more interesting, they can be used both in digital environments, real-world situations, and a mix of the two.
Verifier is a unique twist to in-person identifiers and blockchained “KYC” (know your client) verification. Namely, it identifies people, in person, and in real-time, non-cyber situations.
It is a service which operates through a mobile and desktop application. It is also a bit like Uber in that it works in part by facilitating direct transactions between clients and service workers based on locational proximity. Participants in the platform may use services on behalf of themselves as individuals, as part of a company, or somewhere in between.
The idea is pretty simple. When it’s necessary to confirm an individual’s identity or the veracity of a fact, the system randomly chooses an independent, pre-verified, third-party agent (a verifier) who can arrive at the scene quickly because they are geographically proximate. They can provide proof, in the form of a photo, videos, or other material. All data will be transferred in an encrypted format. Stores and insurance adjustors can also use this as physical verification of assets. There are many uses, in other words, that cut across industries and specific verticals.
The high-speed response time of Verifier means that a great deal of time, stress and uncertainty can be spared in circumstances where real-time verification and proof of identity needs to occur in a non-cyber setting.
The service is designed to create a way that clients who rely on real-time deliveries or services, can accurately identify that they are interacting with the right person who they might never have met before and or are in receipt of the right document or package.
Uses include such services as:
- Real time courier services, particularly for sensitive or dangerous cargo, like legal documents or medical tests. Or even the delivery of an online delivery that has high monetary value
- Security and protection services
- Any tradesperson scheduled to make a delivery or perform a service when the responsible adults are not home
- The reliable and safe transport of children, the elderly or other vulnerable individuals
- The pick up and drop off of rentals (autos, apartments, or other goods)
- Third party verification of forms
- Verification of other-wise hard to authenticate facts, such as the quality of a view from a hotel room
- Situations where a third party trusted agent can provide clarity and act as a witness
- Any kind of e-commerce
- Notary services
- Insurance – starting with verification of claims adjustment and payments
- Any kind of logistics and transport
- Verification of the existence of assets by financial companies
- An efficient form of inventory control
- A way to fight against fake news
The service is super easy to use. The client fills out an application through the online interface, which is available for desktop or via a mobile device. The server then sends this information to an independent agent. This identification and confirmation process is unique to each transaction that occurs, and where verification must take place.
Verifier’s solution allows the verification of any event or fact quickly with a unique interaction of digital technology and human response. Whether one needs to remotely open an account, check on the identity of a person or reputation of a company, validate the signing of contracts by the right people, or the verification of “truth,” the capability is now here to do so.
In addition to this, of course, there are other direct economic justifications for this application of technology. These are routine but required and very expensive procedures for many business processes and verticals. Private individuals who find themselves faced with such situations often have no place to turn. Or cannot afford services priced for corporate clients.
A low price for everyone: The minimum cost for verification is only $10. Customers set the prices themselves, given the complexity and time involved, and the required competencies or clearances of the agent.
Decreased expenses for corporate users: In just one instance (verification by a bank or financial agent), Verifier’s offering represents a 90% price saving.
Decreased risk: Guaranteed authenticity comes with a price. The great thing about blockchain is that its use in this model eliminates fraud and or data theft during a transfer process. The agent verification mechanism enables the minimization of “human error.”
Token name: VRF
Token base: Ethereum
Token supply: 6,910,000
Token sale duration: Pre ICO begins February 15, ICO begins March 20, 2018
Token sale target: USD $38 million (hard cap)
Token price: 1 VRF = $10 (Discounts based on the volume of tokens purchased per the schedule on the website and in the white paper)