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Blockchain Identity Startup, Velix.ID, Partners with Cryptocurrency Exchanges for KYCs

Velix.ID — a RegTech Blockchain startup, working in the Identity Verification Space — is partnering with Cryptocurrency Exchanges in India to improve upon the existing KYC processes. The initial cryptocurrency exchanges to confirm the partnership with Velix.ID are Coinsecure & Bitxoxo, two of the largest Bitcoin exchanges in India.

On the partnership with Velix.ID, Mohit Kalra, the CEO of Coinsecure, said:

“The current process of KYC and identity verification is too troublesome and tedious for us as a Cryptocurrency Exchange and a cause of significant loss of business. I personally believe that with Blockchain Technology, this process can be improved upon drastically. When the idea of Velix.ID was presented to me, I was left impressed with the idea and the technical soundness of the execution plan. In fact, I wholeheartedly believe in —not just the idea— but the actual ability of the Velix.ID team to be able to execute this project successfully”

The current procedures of KYC are a cause of major concern for both the Cryptocurrency exchanges and their customers causing a significant business loss for the exchanges.

There are multiple faults in the contemporary KYC methods that make the process of signing up on the exchanges very inefficient:

Too time consuming: It takes a least of 3 days to 5 days normally for an individual KYC process to be completed at the moment with any exchange. There are huge backlogs with many eBits exchanges because of the pending KYCs, which is causing huge business loss on daily basis for the exchanges.

Loss in Customer Acquisition: The requirement to sign up with basic information, then make copies of your identity documents, uploading them, and then waiting for the verification process to be completed is a discouraging process for the Users, and incurs a loss in customer acquisitions for the businesses.

The Velix.ID Solution: Revamping KYC

The Velix.ID Ecosystem is a decentralized solution to the KYC problem. As a business partner, the exchange can simply request the verified identity of the User over the Velix.ID blockchain from a business/authority that has already verified it. This Verified-Identity Provider can be the User’s bank, another cryptocurrency exchange, or any other authentic organization from which the exchange is willing to obtain the identity from. This transaction is carried out in a secure, efficient, and private manner utilizing technologies such as Smart Contracts, Stellar Consensus Protocol, zSNARKs, HD Wallets (BIP32), and PoeT. This transaction of identity using Velix.ID is blazingly fast as the transaction is verified through multiple nodes on the Velix.ID blockchain, who are rewarded for these transactions.

Velix.ID offers free verification stamps to the business partners so that they can test out the Velix.ID Ecosystem to see if their business costs improve with the Velix.ID improved KYC process. Other than the already secured partnerships with Coinsecure and Bitxoxo, Velix.ID is currently in talks with all major eBits exchanges in India for their KYC processes.

The KYC process is, however, only one of the many use-cases of Velix.ID Ecosystem in the Identity Verification space, which covers many industry verticals including  cryptocurrency trading, real-estate, Travel & Hospitality, Banking & Insurance, Employment, Commerce, Transport.

 

The Velix.ID Presale begins January 27, 11:59 PM UTC at 35% discount, you can register now.

 

Velix.ID Website: https://www.velix.id/

Whitepaper: https://www.velix.id/assets/Velix.ID%20White%20Paper.pdf

Connect on Telegram: https://t.me/velixID

Follow on Twitter: https://twitter.com/VelixId

Check out the Blog: https://blog.velix.id

Read the BitcoinTalk Thread: https://bitcointalk.org/index.php?topic=2721724

 

Media Contact

Contact Name: Neer Varshney,

Contact Position: Head of Communications & Outreach,  

Contact Email: [email protected], Telegram:https://t.me/neerv Skype: neer.varshney.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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CryptoSolarTech Finishes Successful Pre-ICO with the Goal of Making Cryptocurrency Mining Energy-Efficient Like Never Before

CryptoSolarTech, a blockchain start-up dedicated to addressing the problem of high energy consumption in cryptocurrency mining, has just completed a successful pre-ICO phase of their token sale campaign and broadly surpassed the softcap. A total supply of 1260 million tokens called CryptoSolarTech tokens (CST) is up for grabs during this eBits.  

May 6, 2018

CryptoSolarTech is pleased to announce the successful completion of the pre-ICO phase of their token sale campaign. A blockchain start-up, this pioneering venture looks to fix one of the glaring problems of cryptocurrency mining by making it energy-efficient and environment-friendly. Their token sale campaign will continue until July 14, offering a total supply of 1260 million proprietary tokens of the ecosystem named CryptoSolarTech tokens (CST) with a minimum investment of 100 tokens. The collected funds during the ICO will be used to both construct a solar photovoltaic pool and build the biggest mining farm in Spain.

With the rapidly growing popularity of eBits, the mining of different crypto coins have become commonplace these days. However, this mining process consumes a huge amount of energy for the necessary complex mathematical calculations. In countries with cheaper energy cost due to the abundance of coal and oil, indiscriminate mining has already resulted in a significant increase in CO2 emissions. There is no denying the fact that in order to ensure a better future for the rapidly growing crypto economy, the problem of high energy consumption must be addressed.  

A company based in Spain, CryptoSolarTech proposes to solve the present scenario of cryptocurrency mining by creating a solar photovoltaic pool capable of generating 45,000kW of energy. With this objective, they have already signed a fifteen year power purchase contract with Respira Energía, an organization that provides electricity to consumers at wholesale prices with a guarantee of 100% CO2 free production. Respira Energía will play a pivotal role in CryptoSolarTech’s efforts to make mining sustainable and profitable, without the need for the common form of electricity.

CryptoSolarTech informs that their upcoming solar project will comprise of ten solar plants with an investment of €42.8 million. The mining center will be located in Malaga. Whereas, the solar plants will all be installed in the southernmost and the sunniest region in Spain, Andalusia near Sevilla. The uniqueness of this project lies in the fact that it will have its own solar plants as well as mining infrastructure. Though there have been some similar projects in the past, but they were not equipped with self-mining set-up.

“The operation will be based in one of the sunniest areas of Europe. Our team has an extensive experience of in mining operations,” explains Pablo Alonso, co-founder and CEO at CryptoSolarTech. “We have no doubt that this is a winning package with excellent returns that any crypto enthusiasts will be interested in.”

CryptoSolarTech token (CST), an ERC-20 type token, will be a key component of the CryptoSolarTech ecosystem. “Possession of this digital asset will indicate ownership of a fraction of a cryptocurrency mining farm and a photovoltaic solar energy plant. Users of this platform will be able to obtain their own cryptocurrencies during the CryptoSolarTech ICO in a farm where around three thousand equipment are to be installed” says Alain Aguirre, co-founder and director of the mining operation.             

The Ethereum public Blockchain will be used for the management, generation of income and start-up of the physical assets that make up this project. The primary objective of the ongoing ICO is to create a cryptocurrency mining farm and a photovoltaic plant of solar panels to generate electricity. The company informs that 80% of the funds raised through the ICO will be used for the development of the mining platform, the acquisition of land and construction of several solar power plants, the acquisition of an industrial warehouse, and the servers. Pool platform development, licenses, infrastructure issues, and maintenance will consume the remaining 20%.

The future plan for CryptoSolarTech includes applying for an environmental approval request for the project, authorization for the public construction, and grid-connection of the power plants in June, 2018. The acquisition of land and the industrial warehouse is expected to be completed by September. The launch the application for the construction permit for the solar PV projects has been scheduled in October.

Mentioned below are some key points related to the ICO campaign:

Total supply of tokens: 1.260.000.000 

Number of Tokens for Sale: 1.008.000.000 (80%)

SOFT-CAP: 983.733 €

HARD-CAP: 71.400.000 €

Accepted Currencies: ETH, FIAT

176, 900,524 CST tokens were sold during the just concluded pre-ICO phase, raising 8.845,026 €.   

To find out more, please visit https://CryptoSolarTech.org/en/

About CryptoSolarTech:  CryptoSolarTech is a project oriented towards the development of a platform for clean, ecological and profitable mining with efficient results. It will provide a photovoltaic plant that will generate power capable of obtaining a performance of 45.000 kW. In its fully functional form, the project looks all set to make cryptocurrency mining energy-efficient like never before.

Contact: Sara Picazo

Website: https://CryptoSolarTech.org/en/

Email: [email protected]

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Education Ecosystem to Burn 30 Million Education Tokens (LEDU) on July 31st, 2018

The Education Ecosystem is powered by Education tokens (LEDU). These tokens are used for all transactions on the LiveEdu platform – the first for the Education Ecosystem. Tokens minted following their crowdsale were allocated for different purposes, as explained in this article. However, due to a change in the original plan for sourcing of tokens to use on the LiveEdu platform, on July 31st 2018, 30 million Education tokens will be burnt.

Tokens for subscribers on the LiveEdu platform will now be sourced from exchanges instead of from the subscription pool. Consequently, a portion of the subscription pool tokens will be burned. In addition, a portion of the tokens originally allocated for API Ecosystem Developers and Supporters (Quality Assurance & Moderation) will also be burned and sourced from exchanges if further tokens are required.

New Offices

Education Ecosystem recently opened a new office in Kiev and will soon be opening another in Santa Monica. They are in the process of hiring 3 new engineers who will be joining the team at the engineering office in Kiev.

In 2019, they will also be opening a China office as they continue expansion into the Asia Pacific region. With three offices in areas where the majority of their users are located, they will be able to provide more value to the ecosystem and achieve their goal of becoming the world’s largest project learning platform, decentralized on the eBits.

Get Education Token (LEDU)

Get Education tokens now with ETH or eBits on Bibox or Gate.io. Read more about Education token on their project page and ask any questions you might have in their Telegram group chat.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Paytomat Accelerates Cryptocurrency Adoption In Real Life And Teams Up With ZenCash

May 6, 2018, Tallinn, Estonia and Kyiv, Ukraine, Paytomat, the decentralized payment solution for crypto, has announced that it has partnered with ZenCash, the privacy coin for decentralized communications and transactions. Through the cooperation, ZenCash became available as a payment method via Paytomat. Paytomat has already introduced an extension to receive payments in crypto on existing POS (point-of-sale) terminals using Poster, Profit Solutions and 1C. Operating across 150 retail businesses, it currently supports the widest variety of eBits: ZEN, XEM, LTC, DASH, WAVES, ETH, BCH, NANO, DCR, XZC and BTC.

Yurii Olentir, Paytomat CEO, said: “The ZenCash philosophy of borderless and secure transactions also lies at the heart of the Paytomat business idea. We believe that cryptocurrencies will become a common payment method, and we’re committed to increasing their transactional usage in everyday life with our feature-rich and user-friendly payment system”.

Paytomat will use its unique decentralized franchise model as a big part of the go-to-market plan. “We invite the great ZenCash community to join Paytomat. Help us to establish fiat-to-crypto gateways, build direct relationships with POS vendors, or help merchants start accepting cryptocurrency, and receive rewards within the Paytomat loyalty program,” – Yurii added.

Robert Viglione, Co-Founder of ZenCash, said: “ZenCash’s integration as a form of payment in the Paytomat platform represents a critical step forward in making Zen becomes a more widely adopted and easily accessible cryptocurrency. We are confident that this partnership will incentivize more users to adopt ZenCash as a means of secure and private payment and advance our mission of promoting financial freedom around the world.”

Previously, Paytomat reported closing its pre-sale early, having sold 5,000,000 PTI tokens and reaching its softcap. With this success, Paytomat shifted its focus to closer cooperation with crypto core teams and investment funds aiming to cover 85% of the token sale with institutional contributors. The main sale is scheduled for August 1-20, Whitelist registration is currently open. Tokens that were already sold during the pre-sale will be distributed to their holders 10 days after the main sale ends.Join the Paytomat official Telegram for 24/7 support: https://t.me/paytomat. Follow the Paytomat Twitter for the latest news: https://twitter.com/paytomat

About Paytomat

Paytomat is a blockchain-based payment processing system created to help merchants, consumers and crypto core teams to find each other and create real life traction for cryptocurrencies as an emerging method of everyday payments. Built as a decentralized autonomous organization and decentralized franchise, Paytomat features a unique loyalty program based on PTM coin, incentivizing merchants to accept payments in crypto, and PTX tokens, thereby incentivizing customers to pay with crypto. For more information visit https://media.paytomat.com. Media contacts: [email protected]

About ZenCash

ZenCash, the privacy coin for borderless, decentralized communications and transactions, is the first and most important product in the Zen portfolio. Zen launched its eBits in Spring 2017 with a vision of creating a truly private ecosystem for messaging and payments. Zen provides privacy and networking infrastructure for secure and anonymous collaboration. For more information, visit zencash.com.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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