Verfisco aims at becoming a prominent provider of ownership registration and verification platform that is based on the Blockchain for motorized and non-motorized goods
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Raised -
00 Tokens
Target -
3,000,000 Tokens
Our Vision
Verfisco aims at becoming a prominent provider of ownership registration and verification platform that is based on the Blockchain for motorized and non-motorized goods. The owners and the rights of owning motorized and non-motorized goods will be identified via their registration number or serial number to register their ownership of these products and hence to prove it or let any other party confirm it by accessing its ownership record on the platform. Additionally, the registration of goods via Verfisco can assist the owners not only to prove their ownership rights as the legitimate holders of these goods, but also to register the transfer the ownership rights to others when these goods are sold or gifted to them.
Verfisco offers a user-friendly and intuitive interface to register the ownership of your belongings and enables other users to search through the registry records to confirm your ownership rights with ease.
The Verfisco platform is based on the BSC (Binance Smart Chain) Blockchain as its network and registry ledger, due to its high scalability and design that ensures high volume of use, complete transparency while protecting the privacy of registered owners and provides very low fees per transaction in comparison to other chains. Users can submit and register either motorized or non-motorized products that they own, submit proofs of purchase and ownership and search for goods registered by others to confirm their ownership.
Introduction and Market Analysis
Ownership registration is based on distribution of centralized registries across types of products, nations or geographical areas (such as cities, states, countries and federations). In practice, every class of goods, such as cars, motorcycles, ships, etc. has its own central registry (either regional or national), while many other types of valuable goods, such as luxury watches, do not have their registries and therefore the verification and validation of ownership is either impossible or extremely difficult. For example, a situation in which an owner of a Rolex watch previously purchased from a pawn shop sells it to another person and a third party unknown to both the shop, the buyer and the seller claims that the watch was stolen from them. Therefore, if the claimant was found true, the watch should be returned to its original owner. However, the validation that the watch was indeed stolen and sold to the pawn shop by illegitimate holders, and even the ownership of the claimant, can rarely be established since the ownership rights over the watch or their transfer were not registered anywhere.
Additionally, the access to registration databases, such as those of motorized vehicles, is available on a national basis (and hence requires knowledge of the language and the legal and administrative terms used by the registrar) or is not permitted at all, e.g. due to privacy regulations.
Our Solution
Verfisco presents multiple solutions that will provide the following benefits to product owners who are interested in registering their belongings either in its non-motorized or motorized registry. Verfisco will issue the Verfisco (symbol: VFS) BEP-20 token on the BSC to support its operations and to pay for the registration services. Additionally, Verfisco will distribute 20% of its profits to holders of the Verfisco tokens.
Verfisco’s platform provides its customers the following benefits of registering the ownership rights by generating its ownership records and documentation on the BSC:
Users of the Versifco platform can create a record of registration for non-motorized goods (such as luxury watches) or motorized goods (such as boats) on the Blockchain.
The record of ownership will be created by minting an NFT that includes the data and the documentation proving the ownership, as well as the identification of the goods (such as serial numbers and photographs).
Once minted, the data and documentation composed into the NFT cannot be modified, changed or deleted.
Background
Verfisco develops a platform for global and secure registration of motorized and non-motorized goods in a decentralized and anonymous manners that will enable holders of goods to prove their legal ownership rights over their belongings. Verfisco was created as an innovative and state-of-the-art registration platform that will enable the validation of ownership over different types of products without disclosing the identity of the holders to the public or identifying which other products are owned by them.
Verfisco does not compete with international, national or regional registries and databases (such as the vehicle registry and boat registry operated by the national Ministry of Transportation in each country, or international art registries and databases operated by multiple companies worldwide). Rather, the Verfisco platform enables users to register their motorized and non-motorized goods, in addition to registering them in other types of repositories. Doing so, users can generate ownership records on the Blockchain and NFTs that include the proof-of-ownership of users over their belongings, establish a clear timeline of ownership through the registration date on the Blockchain and the data and documents that identify the goods and their legal holders cannot be deleted, changed or manipulated.
Platform Architecture
The planning of the Verfisco platform includes several modules that will perform the various operations and the functions required by both registries – the motorized goods registry and the non-motorized goods registry. The structure of both registries is similar (though their interfaces and the data and the documentation that users submit while registering motorized or non-motorized goods is different). Both registries are linked to the BSC as a backbone for recording the ownership records produced by the system and for the reliable storage of the NFTs that encapsulate documents and photographs of goods to provide a proof-of-ownership when necessary.
These modules are as follows:
Registration modules for both motorized and non-motorized goods – these modules will include the set of data fields necessary to identify the registered goods (including item name, serial number if exists, detailed description, etc.) and user-friendly interfaces that will lead the users in an easy manner through the various stages of describing the items that they own, identifying them and providing proofs-of-ownership, such as invoices, credit card purchase reports or records of money transfers to their former owners.
The users pay registration fees to pay for the transfer fees for the BSC and to support the ongoing maintenance and development of the platform by Verfisco by transferring the amount in VFS from their crypto-wallet.
The ownership records are then registered via the registration system on the BSC by operating a smart contract that includes the registration details. The records on the BSC's ledger include a timestamp that proves the date and time of each the ownership registration by the users and the wallet addresses that identify them.
The NFT minting modules generate from the documents and the data uploaded by users NFTs on the BSC that encapsulate this information. The NFTs are then transferred to the wallets of the users and provide a proof-of-ownership over the registered goods that includes data and documents to support it.
(See Fig. 2)
Figure 2: The architecture of the Verfisco platform.
Structure
Verfisco’s ICO presents an opportunity for investors to fund and to take part in the development of a 360° service platform that caters to the needs of registering the ownership over motorized and non-motorized goods. Verfisco’s operations will be supported by transactions of the Verfisco token (symbol: VFS) offered to investors during the Presale and the ICO stages. The Verfisco token will be issued after the ICO is concluded and will be registered for trade through leading cryptocurrency exchanges.
The structure of the Presale and the ICO and the amounts of Verfisco tokens issued are as follows:
15,000,000 Verfisco tokens minted will be minted on the Binance Smart Chain (as BEP-20 tokens), due to the lower transaction fees in comparison to other networks.
The company will offer 10,500,000 tokens (70% of the tokens) to investors in a two-stage token sale, i.e. via the Presale and the ICO, as follows:
Stage 1: The Presale stage with a Verfisco token price of 0.9 USD per token (reflecting a 10% discount on the token value for early investors).
Stage 2: The ICO stage with a Verfisco token price of 1 USD per token.
The total funds that the company plans to raise via the ICO is 10.5 million USD. The funds raised will be allocated to the team and to Verfisco's partners to support the development and the marketing of the Verfisco platform and to promote the use of the Verfisco token. Marketing and user awareness, as well as constructing a solid and involved community of users of the Verfisco platform and the Verfisco token are especially important to facilitate broad adoption of our solution and awareness in the public, among sellers, buyers and other stakeholders in the real estate market, such as investment companies, property management companies and other service providers, as the use of the Verfisco token and its value are likely to increase through expanding the user base of the Verfisco platform. The raised funding will also be dedicated to improving value appreciation and growth in using the Verfisco token and the Verfisco platform and financing the costs of listing the Verfisco token for trade in cryptocurrency exchanges after the ICO ends.
2,250,000 tokens (15%) will be locked as Verfisco's treasury for staking liquidity and for supporting the value of the Verfisco token.
1,500,000 tokens (10%) will be locked for marketing and promotions, forming collaborations with influencers and promoters and forming partnerships with Blockchain organizations and with leaders in the real estate and property investment domains to enhance the awareness of the community to the Presale and to ICO, to the Verfisco token and to the Verfisco platform. Additionally, this share of Verfisco tokens will support the initial stages of development of the Verfisco platform, whose advance will be presented to investors and to the community prior to and throughout the Presale and the ICO.
750,000 tokens (5%) will be locked for team and advisors.
Figure 5: Allocation of the Verfisco token.
5%
Team and Advisors
70%
Token Sale
15%
Liquidity
10%
Marketing and development
Tokens that remain unsold will be fully dedicated to Verfisco’s treasury and will be used to foster the awareness of users and the use of the Verfisco token and the Verfisco platform by distribution of tokens to new users, awards, periodic token grants to holders of the Verfisco token (determined by the volume of Verfisco tokens and the period of holding them in their wallet), etc.
Roadmap for Development of the Verfisco Platform
The following roadmap describes the development of the Verfisco platform after the ICO is completed:
Month 1
Team recruitment and planning of the development workflow and milestones Project kick-off
Month 2
Design of the Verfisco platform UI/UX and interfaces to the VFS Detailed specification of the modules and data structures
Month 3-5
Development of the Verfisco platform Integration with the VFS Testing
Month 6
Launch of the Verfisco platform Feedback from the community and planning of expansions and future developments
Month 7
Public Review of the Token Contract The smart contract address will be published by Verfisco upon its launch. We invite all potential participants to review it.
Month 1
Team recruitment and planning of the development workflow and milestones Project kick-off
Month 2
Design of the Verfisco platform UI/UX and interfaces to the VFS Detailed specification of the modules and data structures
Month 3-5
Development of the Verfisco platform Integration with the VFS Testing
Month 6
Launch of the Verfisco platform Feedback from the community and planning of expansions and future developments
Month 7
Public Review of the Token Contract The smart contract address will be published by Verfisco upon its launch. We invite all potential participants to review it.
Team Behind the Amazing Project
ALBERT ROY
CTO
Ines Salvador
CMO
VANDA CHAN
DIGITAL MARKETING OFFICER
Roohi ShaikH
Tech Lead
Apoorva Sharma
HR Manager
Fazil Mahesania
Frontend Web Developer
Alejandra Valdivia
Web Developer
