[ANN][ICO]✅✅✅ WHITELISTING NOW! Verify - The Future of Reputation ✅✅✅

[verifyas]

Did you think about Utrust and how it's scam (see utrust ANN)? How this is better

Thanks for writing in. We actually drafted up an in-depth comparison between Utrust and Verify here: https://medium.com/@verify.as/so-hows-verify-different-than-a4c09a40909b

Happy to answer any more questions you have.

[passageasterisk]

just want to know if any photos or LinkedIn profile for every team member?

[verifyas]

just want to know if any photos or LinkedIn profile for every team member?

Yep, it's all on the website (under Team). We've included LinkedIn accounts for every member of the team underneath the member's photo

[stuffedcobalt]

Dev, where is your team?

[verifyas]

Dev, where is your team?

Physcially, they're based in Belarus. On the website, you'll find them under the Team section. Here's a screenshot:

[verifyas]

UPDATE: We've just announced that we're reducing our hard cap from $14.5M to $2.25M (Link here)

---
Most token-sales these days set out to raise as much as possible; after all, why not? They take advantage of high demand and give themselves valuations that no sane VC would grant.

Not us.

We’d like to announce the caps for our upcoming tokensale:
- Soft-cap: $1.5m
- Hard-cap: $2.25m (Yes, you read that right: $2.25m, not $225m)

A new approach
Instead of raising all the funding the company could ever need in its lifetime (at great risk to contributors), we’re taking a different approach. Raise enough for 18 months of funding and demonstrate traction.

These limits are derived from our detailed roadmap (Section 6.1 in our whitepaper) that now includes estimates for every milestone of our product development cycle.

Develop a scaled-down version of our grand vision, find customers and start making revenue. If we’re able to reach the aggressive targets we’ve set, then we’ll unlock a follow up token-sale that we’ve provisioned (at a higher token price, naturally).

We have a huge vision for the future, but we also take our responsibility towards our contributors very seriously.

Our tokensale begins on the 29th of November. Sign up at https://verify.as/ to get updates

[aTriz]

New signature campaign- https://bitcointalk.org/index.php?topic=2395889

Join now!

[ObscurePen]

So how do CRED tokens work? Is it the medium for e-commerce exchange that is used on Verify?

[verifyas]

So how do CRED tokens work? Is it the medium for e-commerce exchange that is used on Verify?

Another great question! Think of CRED tokens as an insurance policy on a transaction, any transaction. We convert 1% of the total transaction value to CRED. On the flip side, we extend credit to sellers for advance payment based on their credit ceiling (also in CRED).

Since demand for CRED tokens grows with transaction volume, this creates a deflationary force on the CRED price (all other things equal), causing the price to rise. This increases the total credit that we can extend to reputed sellers at any given time.

You'll find much more detail in our whitepaper.

[ObscurePen]

So how do CRED tokens work? Is it the medium for e-commerce exchange that is used on Verify?

You'll find much more detail in our whitepaper.

This is a quote from your whitepaper:

“Transactions over the Verify protocol can only be processed if they have an associated “insurance policy”, which is funded using CRED tokens. These insurance policies are conceptually similar to transaction fees on traditional credit card networks and are also evaluated as a percentage of the original transaction amount. However, their primary purpose is to ensure that both buyers and sellers are protected and that buyers can be reimbursed if they are unsatisfied with the transaction.”


How do they ensure that both buyers and sellers are protected? How are CRED tokens able to reimburse the transaction? After all, they are only a small percentage of the transaction? Does Verify itself pay back the customers if the vendor decided to commit a scam?

[verifyas]

How do they ensure that both buyers and sellers are protected? How are CRED tokens able to reimburse the transaction? After all, they are only a small percentage of the transaction? Does Verify itself pay back the customers if the vendor decided to commit a scam?

Here's how it works: Verify Payments operates just like an escrow for sellers that have no reputation. As the reputation of sellers improves, they get a credit ceiling (maximum advance payment that they are allowed to get on orders) that increases proportionally with their reputation -- until it results in instant payouts for practically all of the sellers transactions.

If the sellers "scams" the buyer (e.g. delivers the wrong product), the actual damage would be limited to the credit that has been extended to that seller (since transactions outside the ceiling are escrowed). We have various controls in place to determine the credit ceiling that is safe to extend to a seller, based on their proven previous performance plus a delta. Credit is extended by the Verify Fund, for which we've dedicated 15% of the token supply for use strictly as an incentive for usage of the network.

[elzagold]

promising project, looks like we need this in the future.

[verifyas]

promising project, looks like we need this in the future.

Thanks, we agree! We recently announced a massive reduction in our token sale hard cap (now just $2.25m) because of our confidence in our execution ability.

[iluvicos]

Hi guys! Just saw this on twitter and decided to drop him, cool ico! Will definitively invest a bit.

[iluvicos]

promising project, looks like we need this in the future.

Thanks, we agree! We recently announced a massive reduction in our token sale hard cap (now just $2.25m) because of our confidence in our execution ability.

ooo, why the reduction? pretty big

[eth86]

How long will you be raising the funds for? 2.25 is a low amount

[Biscocrypto]

you are making a token and want to collect millions for it  for service that is already out there .

localbitcoin,paxful and many more

you know how much it cost those sites to start ? probably couple of thousands not millions

but ya why not collect millions for something that will never need more than couple of thousands at best

[verifyas]

How long will you be raising the funds for? 2.25 is a low amount

We're expecting it to last 18 months -- until we achieve the 3rd milestone. The goal is to only raise what we need (more explanation in our Medium post here).

Details in Section 6.1 of the whitepaper, and included below:

[verifyas]

you are making a token and want to collect millions for it  for service that is already out there .
localbitcoin,paxful and many more

LocalBitcoin and Paxful are both used for buying bitcoin using fiat. None of these services have anything to do with eCommerce or reputation.

[verifyas]

Hi guys! Just saw this on twitter and decided to drop him, cool ico! Will definitively invest a bit.

Thank you for the vote of confidence!