V-ID a hidden gem aimed to end document fraud with blockchain powered validation

By Abhijeetcg | Abhijeetcg | 3 Oct 2019


Blockchain is known as the revolutionary technology in the history of mankind. Its immutable and incorruptible nature makes it more superior than any other existing technology. Blockchain can transform every sphere of our society with its superior properties. Blockchain provides endless opportunities to eliminate social, financial and economic problems.

But still, most of the advantages of blockchain are theoretical. To prove its real power blockchain need mainstream adoption. The practical use cases in the real world applications will spark mainstream adoption. Today many industries, businesses, educational, financial and medical institutions are ready to explore blockchain adoption into their core work processes.

As blockchain offers faster transactions and value transfer with extremely low commission fee and it validates them by itself with complex mathematical algorithms. It offers the highest level of transparency and it’s immutable nature adds a trust value to it. And we can utilize these properties to solve many mainstream global issues.

For example, today we live in an internet-driven social where our every action is digitally oriented. But digitization paves the way for document fraud where it loses its original value. Copyright protection has become a joke and even under its supervision people make document fraud and we can’t stop it with the existing technological frameworks.

1*rYRqCbKI1S0rn7Ce8dGLvA.jpeg

Thanks to V-ID which is aiming to end document fraud with the effective utilization of blockchain technology. V-ID is a blockchain-powered service that potentially detects any unlawful manipulation of digital files. To detect and verify the authenticity of the file, the verifiable file must go through V-ID’s validation process. After which V-ID can potentially detect whether the file has changed even just with one byte, pixel, and character.

How it works?

To detect the digital document fraud V-ID uses its validation process where it creates a digital fingerprint of the original file and stores it in one or more different blockchain networks. During the creation of digital fingerprint V-ID stores every single byte, pixel and character of the original file and stores it as a hash file on the blockchain. The created SHA256 hash file of the document helps to check whether the content of the document is changed or not by competing with the original hash.

1*zPbTMOwoHFFJvdG7Q56bBQ.gif                                            Verification of files after validation

But you may be thinking and asking questions that: How can we know the files that we are verifying was validated by the rightful person, authority or organization? Or how can V-ID be 100% sure that validated files are genuine and not fakes? Well, V-ID has its validation process which can ensure the authenticity of every file.

1*rxxd2UjcTZsIAdjohIBBSw.png

V-ID’s validation and verification process

The working principle of V-ID is very simple, the publisher validates the file and the recipient needs to verify the files. V-ID uses two ways to validate the files: validation by verified and certified V-ID employee and by self-validation. Presently V-ID is using the first way of validation for its clients and the second way is under development for release in Q4 2019.

Validation by V-ID employee

Level 1: Remote validation

1*uOgJB1h7ZfxlyPXmGzrdXA.png

The organization, company or institution which has the original document needs to upload the file to V-ID through a secured upload connection. Upon upload, V-ID validates the file, creates digital fingerprint and stores it on one or more blockchain. Presently it uses Ethereum, Bitcoin, IBM’s HyperLedger, DigiByte, and LTO network.

 

Level 2: On-site validation

1*wO7waVbZMRkxdZbayxGi0Q.png

Here the validation of files is done by V-ID employee at the client’s location.

Level 3: On-site validation under notary supervision 

1*8juA-DPdmsLV7B3FVMHMSQ.png

Here a notary supervisor is present during the validation of files at the client’s location. The notary officer supervises the process and adds authentic trust to the process carried to validate the files.

Once the files are validated by V-ID, the digital fingerprints are locked into the blockchain. These files can be easily verified within 5 seconds through any internet browser.

 

Real use cases with real companies


Thanks to the V-ID’s ambition to eliminate digital document fraud using blockchain, its service is currently being picked up by serious players from the medical, industrial and educational sectors. Presently Airbus Defence & Space, the world leader in flow measurement instruments Krohne, European embryology research institute ESHRE, Maritime Cyber Alliance, Dutch college HBOD and Amspec are the clients.

1*gqQjVu0deDuV7PRhfpdjcA.png                                                       V-ID’s clients

V-ID allows ESHRE, the European research institute, to issue 100% authentic diplomas to their students in PDF formats. Thus, each of their recipients can be sure that the diplomas are 100% authentic and they can also check it’s authenticity at any time.

 

1*x1EhC92mOZFCvJBBwq_GcA.png                                                              PDF validation in 5 sec

Recently AmSpec joins V-ID to secure its inspection documents. AmSpec is a global leader in inspection in the oil and gas sector with over 200 operational sites worldwide.

The V-ID Token (VIDT) plays a key role in the validation process. Organizations need to hold VIDT tokens and during each successful validation, VIDT token transaction occurs. This gives a real value to the VIDT token.

V-ID's VIDT B2C app

Learn more about V-ID's platform

Conclusion

Truly V-ID is a hidden gem of the crypto and blockchain space. V-ID has brought the blockchain’s use cases in real-world applications. This potentially accelerates the mainstream adoption of blockchain technology. V-ID provides an easy blockchain validation process to eliminate digital document frauds from the internet world. Thus, companies, organizations, and institutions can assure their recipients that the documents they issued are 100% authentic and validated against fraud. V-ID’s immediate practical applications help enterprises to secure and enhance their document management lifecycle through blockchain.

V-ID is a hidden gem, it is a real working project with real-world applications. It is an accepted fact that almost 95% of the crypto projects are still in speculation while V-ID is working with real companies and generating real revenue from its blockchain service. VIDT is a hidden gem that is on the edge to explode.

Learn more about V-ID:
Website
Whitpaper
Official blog
Telegram
Twitter
LinkedIn
Coinmarketcap

About author
Abhijeet Gayakwad (Abhijeetcg)

How do you rate this article?


0

0

Abhijeetcg
Abhijeetcg

I am a crypto enthusiast, investor, and trader


Abhijeetcg
Abhijeetcg

I am a technology interested, Crypto investor and trader.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.