VeriME Whitepaper

Abstract

VeriME is a decentralized Verification-as-a-Service (VaaS) ecosystem operating on Blockchain and
Customer’s mobile application, using the most advanced biometric technologies and machine
learning tools to identify and authenticate the Customer during purchase of goods and services.
Customers can verify their identity electronically with the Service Providers (Online/Offline, both
Blockchain and traditional applications) who are VeriME’s partners in just a few seconds, saving
cost for Service Providers and enhancing Customer experience.

VeriME would initially offer two solutions to its partners:

1. D-KYC – Using this product, VeriME’s partners would be able to validate potential customers
and complete onboarding process with them seamlessly within seconds. Typical partners in this
case would be Peer-to-Peer Lending Companies, Resellers/Distributors of Insurance and Financial
Products, e-Wallet Providers, Banks, Insurance companies, Government Institutions, Credit Card
Issuers, Pre-paid/Private-Label/Loyalty Card Issuers, TelCos, Travel & Ticketing Companies, Payment
Service Providers, Independent Sales Organizations, Merchant Service Providers, and last
but not the least, Companies raising funds through ICOs!

2. D-SECURE – Using this product, VeriME’s partners would be able to seamlessly authenticate
customers during the purchase of goods and services. Typical Partners in this case would be
Banks, Payment Service Providers, Online Merchants, Marketplaces, Independent Sales Organizations,
Merchant Service Providers, Merchants involved in high risk businesses such as Airlines,
Luxury Goods, Gaming, Gambling, Mobile carrier billers & aggregators, and all D-KYC Partners who
accept payments from their customers for sale of Goods and Services. Apart from authenticating a
sales transaction, D-SECURE would also provide dispute/chargeback protection to its Partners.
VeriME’s products protect its Partners and ensure their compliance with local, in-country regulations
such as prohibition of transmission of confidential or sensitive information of an individual outside its
boundaries (also known as Local Data Sovereignty and PDPA laws). VeriME’s solutions are
designed in such a way that it DOES NOT transmit confidential or sensitive information such as PCI
DSS [Payment Card Industry Data Security Standards] and PII [Personally Identifiable Information]
data, during KYC and Authentication processes.

Unlike other projects, VeriME is a ready-to-use product, being researched and developed for the
past two years. Since April 2017, VeriME’s D-KYC product has been functional with 14 of its partners
(including a largest online payment gateway, e-Wallet, ebay.vn and a TelCo), with selected merchants
and across 30,000 users in the Vietnamese market. Please refer to Section 5 for more
details.

VeriME issues the VME Token, which is the “utility token” of the ecosystem for availing VeriME
services. The tokens used as service fee will be distributed among members of the ecosystem to
motivate the growth of VeriME and increase value of VME Token in the long-run, facilitating it to
become a self-operating ecosystem.

VeriME Website
VeriMe Whitepaper

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