VeriME, found online at VeriME.mobi, aims to offer blockchain-based verification as a service. Find out how it works today in our review.
What Is VeriME?
VeriME is a verification, authentication, and protection service that aims to provide fast, easy user authentication for merchants. VeriME’s platform is built on the blockchain to offer “verification as a service”, or VaaS.
There are two core parts of the VeriME platform, including D-KYC (which provides verification via biometric verification and facial recognition) and D-Secure (which helps merchants authenticate customers). Both flagship products are up and running in Vietnam.
The development team for VeriME came together in summer 2016. By February 2017, that team had launched VeriME D-KYC in Vietnam with three partners. VeriME has scheduled an ICO for December 2017. The company will use the proceeds from that ICO to expand globally.
How Does VeriME Work?
VeriME’s mission is to digitize the know your customer (KYC) process and the authentication process used by merchants, while at the same time increasing transparency through the use of blockchain technology.
Users will be able to access the VeriME platform from anytime, anywhere using a mobile device (you can already download the VeriME mobile app from the Google Play Store today).
The ultimate goal of VeriME is, according to the official website, “to become the leading unified decentralized VaaS platform in the blockchain space and beyond.”
VeriME’s two products will also use machine learning, cloud computing, and artificial intelligence systems to provide clients with the most accurate verification, “greater than the accuracy achieved by traditional methods of humans,” claims the official website.
Overall, today’s identity verification process has remained unchanged for the last 40 years. VeriME, like other blockchain-based verification platforms, aims to take authentication into the digital age. The end result is a simpler, safer process for customers and better peace of mind for merchants.
VeriME has launched two specific blockchain-based verification platforms so far, including D-KYC and D-Secure.
D-KYC aims to use biometric verification, facial recognition, and artificial intelligence to offer digital customer verification that can be completed in under 3 minutes. Key features of the platform include:
- No need for face to face interaction
- No need to fill out forms or documents
- Full privacy, and all documents uploaded by the customer are encrypted and stored on the device
- No third party dependency
- KYC in seconds
D-Secure (Authentication and Protection)
D-Secure aims to help merchants achieve seamless authentication for customers. The platform allows for authentication of VeriME members within seconds. Key features include:
- Decentralized system for payment authentication
- Protects merchants and partners from local data sovereignty and PDPA laws
- Authentication within milliseconds
- 100% chargeback protection
Who’s Behind VeriME?
VeriME is led by Nguyen Hoa Binh (Co-Founder and Chairman), Sanjeev Kumar (Co-Founder and Chief Strategy), Nguyen Phu (CEO Vietnam), and Le Van Luong (CTO).
The company is headquartered in Singapore and was officially founded in 2017. Today, VeriME has 14 key partners in Vietnam and seeks to expand globally, starting in ASEAN markets like Thailand, Indonesia, Myanmar, Cambodia, Philippines, Malaysia, and Singapore, as well as South Korea, China, India, and Australia.
The VeriME whitepaper, by the way, lists all 14 partner companies in Vietnam – so VeriME has a legitimate product in place that’s actively working with real merchants across Vietnam.
The VeriME ICO
The VeriME ICO begins with a pre-sale on December 14, 2017. The company is issuing VRM tokens that will be used to expand the verification platform globally.
A total of 1 billion VeriME tokens will be issued. As the company expands globally, the value of the tokens is expected to increase.
The tokens are set at a price of $0.10 per 1 VRM token. VeriME plans to raise $30 million by selling 300 million tokens during the pre-ICO and ICO.
Of the total supply of 1 billion tokens, 30% are available during the ICO, while 21% are reserved for partner incentives, 18% for a token reserve, 15% for the VeriME team, 10% for bonuses, 3% for bounties, and 3% for an ICO advisory.
VeriME Review Summary
VeriME is an existing authentication and verification product in active use in Vietnam. The Singapore-based development team has scheduled an ICO for December. They plan to use the proceeds from the ICO to expand across Asian markets.
To find out more about VeriME, or to participate in the company’s ICO, visit online today at VeriME.mobi.