Do you think you can manage your routine without the internet? Alternatively, if given a choice would you like to go back to the disconnected world and switch off from the internet?
A majority of us will find this an absurd question and reject the possibilities by crediting the internet for improving our lives and making it productive.
However, what problems did the internet solve when it was kicked off?
In fact, the majority of people back then did not realize its potential and only once the internet was fully up and running did we all truly see the impact.
The Virie Project will do to markets and finance what the internet did to globalization.
Let us cover all aspects of why we need it in the first place and then understand how it works.
Virie Project — The need
Does it not bother you when a product worth $100 actually costs you $20 extra due to taxes and bank charges?
I recently ordered a product from a top online marketplace. The product should have cost me $500 but I ended up paying $50 extra due to international shipping.
The break-up of this extra $50 is so confusing that you would end up with nothing really. From banks manipulating exchange rates to the intermediary fees (which in this case is the bank itself), the list is too long.
That is the thing with our current infrastructure. From banks to markets and financial services, almost every sector is plagued with manipulation and complexities. The flaws of ‘centralization’ as experts call it.
The Virie Project proposes a solution to the above and many other issues stemming out from the centralized setup. A blockchain-based project, Virie Marketplace is a unique decentralized payment platform that rids us of the flaws of centralization and offers a futuristic perspective to age-old concepts.
The Virie Marketplace — Changing Dimensions
While blockchain is no longer a new technology, especially post Bitcoin’s success, its presence and disruption in other mainstream industries is a recent development. Industries, especially the financial sector, realizes its potential and organizations are increasingly exploring its offerings to enhance and make supply chains more efficient.
The Virie Marketplace is one such realistic and ambitious attempt to set things right in an otherwise unscrupulous environment. Virie is a decentralized marketplace that lets you plan your own journey as a consumer or business owner or both. The liberty that this platform offers sets it apart from all other platforms currently in the market.
The Virie platform offers you the freedom from unnecessary taxes and tariffs, it lets you choose the currency you wish to transact in and the mode you like to use for payments or transfers. It does not segregate you based on the size of your business or the products you wish to sell/exchange on the platform. In simple terms, it is a truly free market that aims at creating fair and growth-oriented economies by encouraging healthy competition and creativity.
Virie’s Features and Factors
Nobody believed that the internet would become an integral part of our lives and serve as a primary mode of everything that we do. Likewise, there are apprehensions concerning blockchain platforms and their credibility as successors to traditional markets and concepts.
The Virie platform is a real-time, ready to use, practical application of blockchain technology and is a unique blend of innovative ideas and proven market methodologies. This platform pledges to address anomalies of existing markets and platforms, and change our perspective towards markets and finance. Let us explore these features along with the issues they
Issue №1: Freedom from controlling monopolies
Do you know with over 27 million subscribers, Comcast is a monopoly in the entertainment industry? On the other hand, did you know Google, Netflix, Facebook are monopolies or near-monopolies in their respective sectors?
So what exactly makes a company monopolistic?
Some believe that it is when these organizations become authoritarian, start controlling and manipulating their respective sectors, that they are called monopolies.
While this is a valid and factual argument, it comes quite later in the process. The first step is killing the competition and gaining the market advantage. With no other competing company, soon these organizations start ruling the industry and mint profits at consumer cost.
Virie marketplace challenges these factors by offering an unbiased platform for everyone. A platform that does not segregate you based on the size of your business or the products. As long as you are on the Virie network, you are free to choose how and what you wish to sell. It gives you a global platform to explore and grow. When on the Virie platform you are free to trade goods for goods, goods for money or any other services based on your requirements. It discards extra and unnecessary restrictions that often hamper growth and dig a hole in the pockets.
For example, an employer seeks skilled labor in a remote location but cannot afford to pay them as the country he resides in and the country of the employee, both impose duties on the amount transferred.
The Virie platform is a decentralized network that rids such employers of unnecessary obligations by giving them 100% value for their money. These employers can transfer payments to their employees free from extra charges and duties.
Issue №2: Freedom from intermediaries
I once sent money to a friend who was stuck in the UK due to some emergency and badly needed it. To my surprise, it cost me approx. $12-$15 extra just to process this payment, plus the conversion rates.
In this age of globalization and digitization, banks are still charging us for being the facilitator. While this is just one odd example of how intermediaries earn profits despite being inefficient, it highlights the plight of our financial systems and their inadequacy.
When on Virie network, you do not need an intermediary. The Virie platform has its own unique implementation of ESCROW protocol that takes care of any transgression of rules and ensures smooth and successful transactions and payments. (To know more, please refer to the Virie Whitepaper)
Issue №3: Freedom from fear of theft and hacks
Virie’s developers understand the need to address rising thefts and hacks on online platforms and have developed one of the most efficient hybrid parity protocol to take care of all your worries.
This innovative modus operandi is a blend of proof-of-work (PoW) and proof-of-stake (PoS) protocols and shields users from the most fearful and advanced threats while offering them the benefits and profits from both. For instance, the PoS protocol enables users to earn profits by simply saving their assets in wallets, similar to saving accounts interest. It also protects them from malicious agents and is less costly as they do not need to invest in processors and infrastructure.
The blend of both protocols makes Virie platform one of the most secure and threat-free platforms. For example, to be able to attack the Virie network, the hacker must possess a minimum 50% of both PoW and PoS assets. Once done, the attack would mean the same user ends up losing the most, thus making an attack counterproductive for him. (To know more, please refer to Virie’s reference material)
Virie — The Hub for Growth
With blockchain’s success, there is a sudden intensification of decentralized platforms and startups flooding the space. However, not every project adheres to the prime objective of providing freedom and growth. They fail to deliver and connect with the masses. This has compelled experts to develop a platform that addresses the futuristic objectives of not just the markets and economies but also individual players and business owners. The Virie market provides a simple and convenient platform for you to explore, enjoy and adopt. The developers and investors ensure that you get the best of technology, yet with a simple to understand interface, on your journey to growth and profit.