Verify is a reputation protocol that tracks the transaction history of participants (buyers, sellers) and unlocks benefits for those with good reputation. Reputation is a history of all previous transactions. Every transaction is rated by both parties, and the reputation of each party is updated based on the feedback from the counterparty.Banking Platform
WHAT IS VERIFY?
Verify is a reputation protocol that tracks the transaction history of participants (buyers, sellers) and unlocks benefits for those with good reputation.
Reputation is a history of all previous transactions. Every transaction is rated by both parties, and the reputation of each party is updated based on the feedback from the counterparty.
FUELED BY CRED TOKENS
CRED tokens represent the “trust” in a transaction, and no transaction can take place on the platform without an “insurance policy” in the form of CRED tokens.
Verify Payments is the first application built on the Verify protocol.
It will bootstrap reputation data on the Verify network, enabling it to grow at a much faster rate.
Verify Payments offers 100% buyer protection against all forms of seller fraud, including:
Buyer protection actually begins before the transaction takes place. Establishing clear expectations before a transaction is often all that is need to avoid many disputes down the road.
Verify protects the entire transaction, from the moment the buyer pays to the moment they confirm that they are satisfied with their purchase.
Unless both parties are satisfied, the entire transaction is “undone” (Buyer gets back their money, and the seller gets back their product).
DECENTRALIZED DISPUTE RESOLUTION
Buyers and sellers are given the opportunity to resolve a dispute via chat on the Verify Payments dashboard. If a resolution is not reached, the Verify Payments team will step in to solve the dispute. Common issues are reviewed and codified into smart contracts, so they automatically resolve future occurrences of identical issues thereby decentralizing the dispute resolution process.
Developed the idea and brainstormed potential solutions. Continued working on it throughout July and August.
Formed a team of payments experts, several from world-class firms like Amazon and GE. Self-funded a minimum viable product as a proof of concept.
Raised funding from a group of private investors. Hired technical team of payments and blockchain developers to build out the Reputation and Verify Payments API.
Raise the funds needed to pursue our grand vision to grow commerce on the blockchain. This involves partnerships with established blockchain entities and enlisting beta sellers from across the globe.
Without sellers offering Verify Payments, buyers will not be able to use it. Focus here is on infrastructure tasks and items on the critical path to allowing sellers to integrate and use Verify Payments in their stores.
Having validated the seller-side of the business, focus now shifts from sellers to buyers. The goal is to improve the checkout experience with a focus on establishing expectations, highlighting buyer protection features and usability.
By this point, we have already captured a significant share of the cryptocurrency market in terms of both buyers and sellers. The goal becomes to convert users that have never used cryptocurrencies to Verify Payments users.
|Price in ICO||1 CRED = 0.138 — 0.166 USD|
|Hard cap||14500000 USD|