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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