What Bitcoin did to cash, Virie will do to markets.
In 2008, Satoshi Nakamoto launched Bitcoin — a purely peer-to-peer electronic cash instrument that allows online payments directly from one party to another without any intermediary or financial institution. Criticized and called fake and fad by those who believed in the power of central systems, Bitcoin still managed to shift the paradigm and revolutionize the electronic cash sector. Bitcoin was a straightforward challenge to inconsistencies in existing systems and a rebound to the great depression. It was a powerful step against intrusion and oppression as a decentralized means of payment unbound to any country and independent of sprawling institutions such as banks and corporations.
Inspired by Bitcoin and its fundamental principle of decentralization, the participants in the Virie Project have created the logical next step in the development of an independent free-market — Virie Market. The Virie Market aims to achieve a free market in its purest form. A blockchain-based platform that targets Economic Decentralization as the obvious next step. Virie market rids globalization of its contemporary form wherein global corporations clear themselves of governmental restraints, and realizes the dream of a true, free-market where each is free to buy and sell what he or she wants, without borders, tariffs, commissions, taxes, licenses, limitation or any other “regulation”.
While popular sentiment considered Bitcoin and its driving technology blockchain as a short-lived fantasy, Bitcoin introduced a fundamental principle of security and trust on the blockchain technology. Today, blockchain technology has become one of the most sought after tech and is disrupting almost every mainstream industry and vertical that we know of.
Blockchain has initiated a massive structural change across industries through decentralized innovation and disruption. Blockchain essentially challenged the grip of the so-called ‘monetary’ authorities that have forever controlled financial and economic matters. From controlling payment streams, issuing money or governing the value and validation of money, to levying negative interest rates, these financial institutions have dithered from the primary agenda of providing a stable financial system.
Blockchain’s decentralized and distributed ledger provides values to online exchanges by writing each transaction on blocks and adding them to the chain; it permanently links the data to an immutable network.
How does a blockchain-market (Virie) fit into all this?
It becomes useful by integrating the existing economic methodologies and the features of blockchain to build an entire marketplace that addresses the prevailing issues of the financial sector and sprawling institutions.
Virie is a silent revolution
Nobody believed in the power of decentralization until blockchain’s pilot project Bitcoin was revealed. Despite criticism, Bitcoin changed our perspective towards money and fiat currencies.
Virie too is analogous to the objectives of decentralization and adheres to the principle of providing and proliferating ‘free’ markets. A platform where people can exercise their right to liberty from the clutches of authorities and monopolistic cartels. Virie addresses the centrally induced issues and at the same time offers an innovative and creative platform that is practical and relatable.
First, let us understand what Virie actually is.
Virie is a MARKET (Distributed Exchange Network) with a user-friendly payment system. It is also an instrument to use the Market. It is a truly decentralized platform that aims to achieve a free market in its pure form and allows people to exchange whatever they want for whatever they want, using whatever means of payment they want, without limitations such as borders, tariffs, licenses, etc.
For example, someone from Japan can easily purchase a film or book from France, freely, without limitation, commissions and sell his or her work online in any corner of the world with access to the Internet.
In simple terms, Virie is much like the internet, in terms of providing a direct and immediate exchange of information and data. Virie allows the direct and immediate exchange of value without a centralized infrastructure or third party. The only difference here is that the internet still required centralized and trusted institutions to proliferate to ensure the integrity of information while Virie takes care of it on its own.
Virie is a bold step towards a decentralized future
While the internet offered a global platform for trading and companies provided access to commodities and services through it, the business logic of these centralized services only led to an accumulation of power by a handful of companies. Google, Apple, Facebook are all examples of this controlling regime.
Virie is capable of addressing and potentially handling the downsides of these centralized institutions and disrupting the power of centralized markets and platforms at the same time.
Instead of handling and facilitating transactions through centralized channels, Virie supports peer-to-peer transactions through its multi-currency platform.
Virie offers borderless, permission-less and censorship-resistant transactions and exchange. It rids you of relying on centralized services, and guarantees access to content, information or data. You will eventually be in charge of your accounts and become the true owner of your assets.
Virie encourages digitized globalization -
“The most rewarding aspect of decentralization is the ‘freedom’ it bestows.”
Virie capitalizes this further by offering you a platform that leverages the many benefits of decentralization like trustless-trust, free markets, censorship-resistance, and blends them with innovation.
It offers a seamless exchange of goods and services, in whichever way you like it and however, you deem fit as per your requirement and conditions.
A relatable example in this regard would be an artist who lacks funds to auction his work. Through Virie, he has a global platform to not only sell his finished products but also buy raw materials.
All this without worrying about duties, taxes, etc.
Virie offers a unique blend of proven methodologies and decentralized protocols to cater to global needs.
With online transactions and exchanges looms the danger of theft and being hacked. We offer endless trust to the existing corporations that handle our data and information but hardly know what becomes of it. Virie offers a transparent, free from theft and robust platform by incorporating out-of-the-box protocols and the highest standards of cryptography to address this danger.
From implementing a unique hybrid parity protocol to using multi-signatures, the Virie platform ensures that your information and transaction details are secured and theft-free. Virie uses features of both PoS and PoW protocols, and offers you not just a robust system but also incentivizes your participation on the network. (To know more, please read the Virie Whitepaper)
Virie is the ONLY platform that is ready to use even before the crowdfunding. The developers themselves have funded it, as they believe in the integrity and reliability of this network.
A secured ready to use the network is what makes Virie truly globalized and foolproof.
Virie discards intermediaries –
The chain of centralized systems has thrived even with obvious downsides of fiat currencies. The slowness and high-cost of financial transactions and conversion rates have forever depended on the network of intermediaries, often called third-party agents. These agents act as intermediaries during exchanges and charge you hefty amounts in lieu of their services. Quite often, these services are biased and unjust. However, without alternatives and proper management, people rely and depend on them for settlements and exchanges.
Virie addresses this issue by implementing its own unique ESCROW service that seeks an additional sum from all the parties involved in the transaction in order to eliminate dishonesty and cheating. In case of any transgression of rules, the transaction deems canceled and all the parties lose their deposits.
This encourages the old wise saying — “In order to make profits, everybody must play fair.”
Virie’s developers have created a simple, creative and user-friendly interface that abides by the project’s motive of developing a globalized platform. You can download the application here. It is thoroughly detailed and descriptive, even for a newcomer who does not understand the jargon of the blockchain world. For any additional information, visit the official website and/or the materials page.
I hope you too will realize the potential this platform offers like countless others who have joined so far.