ICO Focus: Interview With AJ Smith of VerifyUnion

Hello AJ, can you kindly tell us briefly what the Verify Union project is about?

VerifyUnion is a decentralized Digital Identification and Trust Verification platform with a Social Scoring Engine. VerifyUnion encourages digital users to get verified and earn incentives in tokens (UC Coins) which can be utilized in the VerifyUnion Ecosystem.

VerifyUnion has developed a unique portfolio for all users, which returns a “True Value”. True Value comprises the combined values derived from verifying digital identification, social & public profiles, as well as financial details linked to the user’s unique profile. This platform allows users to provide essential information for required verification to be completed, and they can increase their portfolio “True Value” by providing additional data that the user and evaluator agree upon.

What inspired you to champion this cause?

It started from my experience as a Fintech entrepreneur with over 15 years in this field. The one thing that was always an issue for me even with the best technology was digital ID Management and I had to solve it. I started conceiving this product while I was still the co-founder of my previous Fintech Company. When I sold my shares to a Swiss Family Fund, the opportunity presented itself and I started seriously working on VerifyUnion two years ago.

One can have the best systems, but if you add a fraudulent user to the system then you destroy the entire system credibility. I wanted to fix this problem so that one user will have one indisputable ID and he or she will be able to access any system with that ID and share any information he or she wishes with anyone they want, with the push of a button and all in his or her control on their own device. 

There are a couple of already existing ventures providing similar services of user security and privacy, how does Verify Union set itself apart?

Our competitors are more or less in the same development phase as us. We are all trying and testing our prototype and from what I can tell Verify Union is demonstrably different in many key aspects ,  although some overlap exists. Our unique offering is that we believe your numerous Social ID’s, form part of your main Digital ID and may be as valuable or even more valuable for certain applications. We are also unique that we deliver the concept of  “true value” a comprehensive evaluation of the user based on multiple forms of ID including Social.  We provide the user with his true ID score for the user to share this information with any enquiring party. We are testing our  advanced algorithms to run this information and provide even more advanced insights  true value to help individuals manage their  online risk and profile. Our focus is empowering individuals, providing total control for their data, what to do with it and how they share it. Banks, insurers and many other service providers from a plethora of industries have have indicated their willingness to subscribe as users of this information. In the insurance world for example, this information may result in the reduction of premiums, and in essence help in reducing costs and rewarding consumers with better deals.   

How do you plan to create an ecosystem around the project?

During the pre-ICO we were working hard to transfer our vision to the largest possible community and get a well-supported ecosystem around us. We are aiming to attract a loyal following of early adopters and “influencers” that are not only interested in a quick increase in the crypto token value, but believe in the problem that we are addressing, and who will be there to support us all the way in making the product mainstream. We will be doing several online videos and “explainers” over the coming weeks, pushing out more PR to extend our reach, and enter as many discussions and forums as possible to give the product the attention it deserves.

Post ICO we will continue to grow our ecosystem by teaming up with more partners and developers to spread the word. We will be very busy with the development of the beta and secondary products, to support the main Digital Identification Product.  We believe Asia and Africa have big problems to solve with Digital ID Management and we would be entering those markets very aggressively. Those regions are strongly adopting the crypto and blockchain technology, along with Europe and the US.

How long has the team been working together and what keeps members motivated?

The group has been working on the project for between 6-18 months as a team. We are blessed to have an amazing group of gifted people on our team. They work tirelessly and around the clock. I think the difference with other projects that I have seen before is that this group believe in this project and want to see it through. They are also personal stake holders and everyone in the group as well as members of the marketing team will have token allocations and I believe that some might even buy more with their own savings – that is how much belief the team has in the project…  What more could we ask for?

On which of exchanges will UCN tokens be traded?

During the ICO period it might be difficult to state which exchanges we will be listed onto or that we might want to be listed on and vice-versa but we believe it will be soon enough after the ICO ends. We will likely prefer the exchanges that majority of our token holders are active on, as such we will be open to the voices and opinions of our token holders.  For example, if we find that most of our token holders will be based in Asia, we will put in much effort to expand our presence on exchanges domiciled in the region as well as provide alternatives for users in other jurisdictions. We do however envisage that we will be well spread among the exchanges and in fact we have started talks with a couple of them. More news will follow right after the ICO and on the completion of our audit.

Briefly run us through how the process of Verfiy Union Token crowdsale will be executed?

Interested buyers can purchase the tokens on our website www.verifyunion.io with most cryptocurrencies, including but not limited to Bitcoin, Ether, Litecoin, Dash and then Paypal as well. Buyers simply send the amount that relate to the token volume they want to buy with their wallet address and we send them the corresponding UCN token amount.

All tokens will be allocated  to the buyer within 8 hours of the transaction if not immediately through the smart contract. We will however send the PayPal token out 7 days after the funds cleared and not chargebacks on the funds were made.

We send the buyer a confirmation as well as the steps of how to add this custom token to his ERC20 and ERC223 compatible wallets.  We have just upgraded our token to be also ERC223 compatible.

Thanks AJ for having us. We wish you a successful crowdsale.

Thanks for your support as well ICOWatchlist. Great partners you are.

For more details, follow the VerifyUnion ICO here.

Disclaimer: This write-up is sponsored and does not fully reflect the opinions of any ICOWatchlist employee. It is not an investment or trading guide. It is advisable that you do your own independent research.