Blockchain has the power to change the world’s systems. This particular technology has the potential to change every system of the world. This is one of the main reasons that more and more industries are making use of blockchain technology. Almost every important industry of the world is currently trying to incorporate the use of blockchain in order to benefit themselves. It is expected that in the future the blockchain technology at this rate is going to take over the world.
The blockchain technology that we are talking about in this particular article is known as V-ID which is a document fraud ending blockchain powered validation. If you wish to know more about this particular platform then you need to give this article a read.
V-ID is an ideal candidate to become the de-facto standard solution for document fraud. V-ID service is known to make use of generic and trusted principles to enable validation and verification for any digital file, of any publisher. This is made possible with the help of the immutable and transparent nature of blockchain. The issuing organization can register any file with the help of the validation process of the V-ID platform and thus, allowing each recipient to verify its authenticity within just a matter of seconds and that too for free. The VID utility token is an ERC20 token that is known to be used for identifying wallet addresses. Not only that but is also used as payment per validation as well.
How does it work?
Blockchain powered validation V-ID is known to make use of blockchain technology in order to end all document fraud. The V-ID validation service is also known to allow organizations to validate the identity of their documents in a worldwide decentralized blockchain. Those documents can then be verified so that recipients know that the content of the document is not altered and has been published exactly the way it was.
The V-ID platform is also known to permit the recipient of the file to verify the authenticity and contents of the file by entering it in the verification terminal at https://www.v-id.org. After the file has been checked, V-ID creates a scan report. OIC which stands for certificate of information about the origin is offered in PDF format. The certificate contains all the information about the issuing party, the file and all block-chain data which include time stamps and proof of existence.
This particular platform is known to make use of utility tokens which are sued for various purposes within the platform. The V-ID tokens are known to serve as a native payment system for validation within the platform. The sale event allows you to buy V-ID tokens along with signing bonuses.
Thus, from the above discussion, it is clear that this particular platform has been introduced in order to end the document fraud so that the users are benefited from it. This blockchain based platform also makes use of V-ID tokens which serves various purposes within the platform. in order to know more about the platform, you need to check out its white paper which you will find in the official site of the company.