A Blockchain RegTech Solution to the Worlds $200 Billion a Year Identity Verification Crisis: Introducing Velix.ID
Summary
Other key government enterprises including DRDO, ISRO, RBI, EPFO, and several others have faced data breaches as well.The laws relating to cryptocurrencies in India are so stringent, that the exchanges have to spend millions of dollars performing KYCs, which inconveniences the consumers by having to wait for multiple days before they can actually start trading.Improved Customer Experience: Users can access services easily and instantly without repeatedly requiring to sign-up or entering identity information.I started exploring the identity space in 2015 when I discovered that my email ID got hacked in a mass data breach," said Manav Singhal, CEO at Velix.ID.Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.