VERIME is a block chain based verification platform that facilitates easy and faster verification for the merchants hence eliminating authentication problem.
PROS:
- Cost effective: The cost of maintaining the system that offers Know Your Client (KYC) services is very low as it is easily assisted by block chain
- Faster: The verification process is carried out at a higher sped hence eliminating friction between the service providers and the customer
- Eliminates paper work: The platform doesn’t require filling of forms or other related documents
- Adequate security: The data of the customers is highly protected through encryption and cannot be shared with any third party
- User friendly: The process can be easily effected within few seconds at the comfort of the users without submission of any document
- Conveniency: The customers can update their profile on mobile application easily
CONS:
- Missing team experience
- The UME token sale is not clearly detailed in the platform abstract
- The whitepaper is not fully compatible
SUGGESTIONS:
- Make the whitepaper accessible to other user for faster decision making
- Include the experience of the team to further convince the users about their suitability
NOTE:
The project is very vital in ensuring easy purchase of goods and services as it ensures faster verification process through a well-developed mobile application hence eliminating the traditional and manual ways. Above all the adequate security due to the use of block chain further promotes me to invest in the project with higher expected returns.
