1. Verticate Digital Identification (VDI)

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The Verticate Digital Identification functions as your passport to both the digital and physical realms. This system supersedes existing identification prerequisites for authentication and enhances security levels for individuals and legal entities alike.

For individuals, it enables the retention of control over personal information, and for legal entities, it removes a myriad of requirements and costs associated with data management.

With VDI, users can affirm their identity to third parties without the necessity of disclosing private information. There is no central server where your private data is stored nor is it provided to any third party. This ensures that users retain complete control over their private data at all times.

How does Verticate Digital Identification Work?

The crux of Verticate Digital Identification lies in authentication. Authentication, as a process, spans a wide array of actions, from simple tasks like logging into your preferred social media platform to more complex procedures like setting up a new bank account.

With the Verticate Digital Identification, users can seamlessly log into multiple websites or applications, establish various types of accounts, and execute actions requiring authentication - all achievable with a mere single click or finger print scan. The system's ease of use and security help instill confidence in users when performing any activity necessitating authentication.

Creating a Verticate Digital Identity

Users can create their own unique Verticate Digital Identification via a straightforward and user-friendly process in the Verticate App, Website, or Browser Extension. The process of minting requires a pre-set quantity of VERT tokens, which are consequently burned or consumed. Upon downloading the Verticate Digital Wallet, users are granted a mintable individual VDI.

By enabling users to mint their own unique VDI NFT, the associated VERT tokens are burned in the process. Once minted, the Verticate Digital Identification will encompass the specified information of the individual or legal entity. This identification is then bound to the allocated wallet, becoming unchangeable and untradeable.

For optimal security, we recommend using the Verticate App on a device equipped with face recognition or fingerprint scanning capabilities. Traditional methods of security are also available, leaving the decision to the user, while we always advocate for best practices. This consideration is an integral part of addressing the mass adoption issue within the crypto space.

Verticate takes user-submitted data and files, which are then analyzed and verified by our A.I.systems. Working in conjunction with next-generation encryption technologies, the system ensures no submitted information is ever stored or recorded in a centralized location for an extended period of time. The key lies in the tamper-proof, immutable, encrypted, and decentralized nature of our system.

What Information can be included in the Verticate Digital Identity?

When minting a VDI, Verticate utilizes cutting-edge compliance procedures, scanning mechanisms, recognition technology, and AI systems to facilitate a comprehensive due diligence submission. This approach is in alignment with a broad array of international legislative requirements.

Throughout this process, users submit their sensitive data, which is uploaded to our RAM-based systems that are incapable of storing data. As submitted information undergoes AI scanning, a concurrent compliance procedure takes place, leading to the minting of the VDI NFT. This process effectively certifies the individual or entity as having fulfilled compliance checks, indicated by a 'check mark'. This mechanism eradicates the need for users to send documents to privately held companies just to establish an account or access a service.

Verticate takes into account the registration requirements for routine applications such as websites, social media, emails, and other general items. These typically necessitate lower levels of due diligence and are usually validated via email or phone verification.

In addition, Verticate is designed to meet higher standards of compliance and due diligence, referred to collectively as 'Verticate Levels'. This tiered system ensures that the Verticate Digital Identification can be customized to meet varying degrees of authentication and compliance needs.

How Does Verticate Confirm Identity Without Revealing Personal Information?

Imagine the Verticate blockchain as a sophisticated, automated doorman. You present your unique Verticate Digital Identification to him, he confirms your authenticity against the list of acceptable identities (in this case, the blockchain), and once verified, you're allowed access. Here's the process broken down into easy steps:

1. User Requests Authentication: When you attempt to log into an institution's platform or service, Verticate initiates an authentication process. You present your unique Verticate Digital Identification.

2. Verticate Checks the Blockchain: This is where the 'doorman' steps in. The Verticate blockchain system cross-checks your Digital Identification against the institution's requirements. It verifies your identity in the system without needing to access or reveal any specific personal information.

3. Confirmation or Rejection is Communicated: After confirming your identity, Verticate sends a signal to the institution - a simple "Yes, this person is who they claim to be" or "No, they're not". The institution doesn't see your private data, just the confirmation or rejection from Verticate.

This seamless process allows for fast, efficient, and compliant logins. It's a secure way of confirming your identity without directly sharing private information. So, you can feel secure in your online transactions, knowing your personal details are kept private.

Where can Verticate Web3 Presence be used?

The versatility of the Verticate Digital Identification technology allows it to be employed in numerous applications, further simplifying user interaction in the digital realm. Here are some general examples:

1. Registering for online retail platforms such as Amazon or eBay.

2. Signing a petition on a government website.

3. Participating in local government elections.

4. Online registration for utilities like electricity or gas.

5. Subscribing to a free newsletter requiring an email address.

6. The implementation of this technology can streamline various everyday processes, increasing efficiency and security.

7. Online banking operations such as opening a new account or making transactions.

8. Application processes for visas or other international travel documents.

9. Authentication in healthcare portals for scheduling appointments or accessing medical records.

10. Verification for academic platforms like online learning or application for higher education.

11. Procedures for buying or selling assets in real estate or stock markets online.

Given the wide range of services that require some level of verification or compliance check, the potential applications of Verticate Digital Identification could well exceed several hundreds.

These could span areas such as e-commerce, online entertainment, virtual office spaces, job portals, social platforms, telecommunication services, insurance sectors, and much more. The potential for integration is vast, given the increasing digitization of services across various industries globally.

VDI Levels: A Three-Tiered Authentication System

To cater to varying degrees of authentication needs, Verticate Digital Identification comes with three different levels, each designed for a specific range of circumstances:

1. Level 01 – Verticate ePresence / Web3 Presence: This level is suited for scenarios that don't necessitate passport or ID checks, nor residency verifications. It's ideal for instances where only basic digital presence is required.

2. Level 02 – International Standard Due Diligence: This level is designed for situations requiring more comprehensive authentication. It's suitable for detailed due diligence processes, know-your-client (KYC) procedures, and standard industry compliance protocols

3. Level 03 – Enhanced Due Diligence, Know-your-Business & Specialised Compliance: This topmost level is built for scenarios that demand the highest level of authentication. It's perfectly suited for cases requiring enhanced due diligence, advanced KYC procedures, and specialized authentication circumstances.

This flexible, three-tiered system ensures that Verticate Digital Identification can be effectively employed across a broad spectrum of authentication scenarios, delivering the right level of security and verification needed for each situation.