Veri-Fi

Veri-Fi

Blockchain-based decentralized portal for issuing and verifying directives and notices, to tackle fake news and market fud in the finance Industry

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Last updated: 14 May 2022 05:13 PM

Created project

The problem Veri-Fi solves

Currently, notices and directives created by SEBI and financial bodies are directly sent on the internet which leads to tampering with documents and the spread of fake news through social media and other platforms. We are proposing a Blockchain-based decentralized portal for issuing and verifying directives and notices, to tackle fake news and market fud in the finance Industry. This will help investors and traders to verify the legitimacy of various documents which are being shared. The application will also send alerts through SMS and email when new notices and directives have arrived. This system will create a single source of authentic information as well as verification. Miners verify individual transactions and get the tax benefits as the mining rewards. These validators will keep the system transparent. Each verified transaction detail are appended to the distributed ledger. User requests to verify the legitimacy of the document, then the system compares the hash of pre-existing and uploaded documents and then decides whether the document is legitimate or not. Hence, this system provides an authentic and transparent notice/directive sharing platform which helps to avoid thud and deep fakes.

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