Virie – Contributing to the ‘Value’ in Exchange

With new and innovative platforms and startups emerging every day, Blockchain technology is evolving at a fast pace. Corporations realize Blockchain’s potential as a disruptive technology and are exploring the key areas to benefit from its intervention. The manner in which existing systems process transactions is different from the decentralized and distributed setup of a blockchain. Blockchain strengthens value creation by faster, better, cheaper and safer processes by enabling transparency and trust. Blockchain helps reduce friction that makes existing systems and transactions slow and inefficient.

Blockchain compels organizations to rethink their role in value creation by breaking the rules and conventions of traditional processes. Bitcoin exposes the harsh realities of our existing conventional systems like intermediation and disintermediation, and empowers peer-to-peer exchanges. It creates value by shifting control from central institutions to consumers.

While internet became the backbone of centralized platforms and markets by paving a significant shift in the economy, blockchain is set to cause a second fundamental shift of the e-commerce paradigm by adding a layer of trust.

Blockchain has the potential to replace ‘conventional markets

The Virie Market is a new breed of blockchain-based platforms – a Virtual Marketplace that offers decentralized commodities/services, and shift the reigns to consumer’s hands. This platform deregulates exchanges and transactions through a distributed network and by implementing decentralized protocols. What this means is that when on Virie platform, “users are free to exchange whatever they wish to exchange, in whatever mode they want and from wherever they are with just a click on the application.” This revolutionizes the very fundamental aspect of existing markets by changing the flow of centrally driven supply-demand, and disengaging from central institutions that have been the sole controllers of everything related to money and exchange.

Virie presents some remarkable properties as a futuristic platform in order to gain momentum for Blockchain’s acceptance and build trust in the infrastructure. Here is a detailed overview of what Virie platform is and what it promises:

Decentralized Marketplace: Virie offers a decentralized application through its open-distributed network that encourages creatives and users to interact directly through secured channels and with complete control over their assets.

In simple terms this means that a user is free to choose not only the commodity he wishes to purchase but has total control over how he/she wishes to transact and with whom. Likewise, Virie offers sellers the freedom to sell whatever they wish to sell, right from products to services. It is a multi-currency market that enables users to transact in the currency they would want to choose (from Fiat to Virtual Currencies) without worrying about the taxes and duties imposed. Virie automates the currency conversion and offers the best market rates available to the users.

Virie Market is the one-stop platform for curating, bundling, filtering, selecting and presenting goods and items. It allows global, borderless and censorship-resistant transactions, enhances customer experience, and supports content marketing by introducing new and innovative services and ways for users to access these services.

Virie eliminates the intermediaries: A major contributor to Virie’s performance and reliability is its ability to perform without any third-party intervention. However, Virie does realize that there is always a need for a mechanism to ensure seamless execution of transactions. Keeping this in mind, Virie’s developers have created an out-of-the-box ESCROW protocol that protects users from being cheated and ensures safe and smooth transactions. The Escrow feature requires all the parties involved in the transaction to deposit additional amount as security. In case of cheating or transgression of rules, this amount is forfeited and the transaction remains cancelled. By making the users responsible for everything that happens on the system, Virie not only inculcates the sentiment of belongingness but also makes the users liable for their own safety.

Scarcity: What made Bitcoin interesting was an upper limit on the amount of Bitcoins that can exist. It challenged the ‘theory of abundance’ by providing concrete value and validation to something that is limited in number.

For example, climate change affecting the water levels across the world has appreciated its value. Unlike earlier days when water was in abundance, people are more careful and consider its value as a limited resource.

The same logic applies in the market spaces. Internet brought the ease and comfort of abundance but created a problem with value and validation. With everything available and produced at just a click, the value is at stake.

Virie Market addresses this issue by implementing the logic of ‘programmable money’ i.e., the number of coins, tokens, assets are limited. This not only adds value to the commodities but also makes the platform stable and reliable.

Authority over Self: Virie is intrinsically decentralized and aims at creating a ‘free’ market that prioritizes users and their needs. It addresses a major problem of the centralized world – control – by allowing users to exercise complete control over not just their assets but also their personal accounts and data.

Internet brought connectivity but exposed the users to a global web of frauds and thefts. People relied on online platforms but what happened to the data they collected remained a mystery. It soon became an evil cartel where organizations started misusing our information and data we shared with them for their benefit and self-profit.

Virie platform challenges this anomaly by giving users the right over their data and assets. It does not require you to register using personal details. When signing-up or transacting on the Virie platform you do not need to provide any personal information if you do not wish to. This offers users complete sovereignty over their accounts and information, and gains trust, and reliability for the platform.

Protection & Reward: Virie offers an incomparable protection from thefts and frauds by implementing innovative protocols and cryptographic algorithms.

From applying ‘multi-signature’ protocol to blending Proof-of-Work and Proof-of-Stake to create a remarkable hybrid parity protocol, Virie is a thick wall against modern and complex hacks and safety breaches.

Virie protects you from the most infamous threats like the 51% attack in an efficient and innovative way. It protects you from being cheated through its anonymous solutions both while registering on the system and while exchanging and transacting.

Virie is a complete package in terms of offering a power-packed platform that addresses every challenge effectively and also offers a simple, convenient and efficient marketplace for users to grow and expand their businesses and fulfill their needs.

Virie offers a value-adding user-friendly interface for users of all genres. One does not need to understand the complexities of blockchain in order to transact and use the Virie application. Anyone can use this simple, self-descriptive platform without any difficulties.

The official Virie website addresses all your queries and lists every minute detail regarding how the platform and various features work. Below are some important links that will help you get onboard this amazing platform:

Virie Whitepaper / Virie Reference Material / Virie Application


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