Verifier Is the Way Blockchain Could Disrupt Insurance, HR, and More

Blockchain is being applied to a greater variety of industries than ever before. The decentralization allowed by blockchain has transformed everything from social media to the financial industry. Experts predict the blockchain industry will reach $20 billion by 2024.

Blockchain has done as much as Sergey Brin or Larry Page to transform the internet and its uses. Just as the advent of Napster and other file-sharing services that forced the entire music industry to embrace online services such as iTunes or Spotify. The price of bitcoin may collapse, and users may suddenly switch to another currency, but the impact of this virtual currency on the entire financial industry and others will be permanent.

Now one start up is attempting to apply blockchain technology to a new sector: Verifier. Set to enter the Russian and US markets in summer of 2018, Verifier is the blockchain app of the future. The technology has a chance to transform the potential for blockchain technology.

In an age where an increasing amount of consumer choice is based on the reviews of others, there is little in the way of verification. Verifier would allow users to reliably determine whether an action of a business partner has been taken or not.

Whether that is a delivery of a product of an appropriate quality, a request to open a bank account, or checking the existence of an ocean view from a hotel room, anything can be verified with certainty as opposed to having to rely on possibly untrustworthy or sponsored reviews. Almost any fact can be checked with the help of Verifier, since it utilizes “the most important decentralized asset – people.”

Verifier Will Help Solve Many Current Verification Problems

Currently, verification faces many problems. First, it can take too much time. Seeking, employing and paying trusted service providers can take time that some can’t afford to waste. Currently, most consumers and companies in the world don’t have a quick and reliable tool for remote verification.

Secondly, verification can be exceedingly difficult. Verification of a task can require the trusted person to have specialized knowledge or authority to seek out verification. To be able to verify every aspect of a task, one might be required to search for and employ professionals from various fields. This search could cost additional money, take additional time and effort, and, in the worst case, fail. Verifier solves this problem.

Furthermore, Verifier guarantees security and confidentiality. Conventional intermediaries use email or messenger apps to transfer your confidential data. In fact, 58 data records are stolen every second, causing billions of dollars in losses annually. Verifer’s blockchain makes the information unhackable and anonymous, solving this problem.

Indeed, in almost every way that modern verification methods fail, Verifier guarantees a secure, efficient alternative.

Here’s How Verifier Works

Verifier works by connecting those who need verification with “agents,” or those who would be willing to go confirm whatever the client requests. Wherever they are in the world, each and every Verifier agent can be compensated instantly and efficiently through Verifier’s native crypto token, Verifier tokens. The tokens can be exchanged on any crypto market in exchange for Bitcoin or Ethereum. By creating this incentive for agents, Verifier guarantees and active, effective coterie of agents willing to carry out the service.

Even better for those in need of verification- users can commission multiple agents at once, meaning there is a type of insurance for any request. Verifier Founder Dmitry Nazarov explains, “Some people ask me how a small startup can create a network of thousands of agents worldwide, it is a task that is possible only for corporations with huge resources. I am sure that these people underestimate the power of blockchain technology and community that allow us to reach these ambitious goals.”

This fast and secure verification technology could be used for two audiences: Business to Business (B2B) and Peer to Peer (P2P). Clients in the B2B space are those companies in the financial service sector like banks, brokers, exchanges, insurance companies and other entities that need financial verification of collateral among other things. It is also ideal for customers who need verification of assets/bonds and for other legal financial corporate services.

For Peer to Peer Clients, Verifier could serve an equally important role. Verifier would be available to any internet user in the world after proper verification on web.verifier.org. These members of the network would gain access to the infinite capabilities of remote presence and services delivery. These features were previously exclusive to larger businesses and individuals with the resources to spend tens of thousands of dollars on similar services.

Verifier has a chance not only to transform verification, but to use blockchain to alter consumerism for the better. This could mean that blockchain and its typical uses no longer have to be confined to stores of value. Verifier’s unique use of human agents as “nodes” of a sort could alter the way people see the possibilities of blockchain.

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