The Virie Market project offers a decentralized platform for everyone. A market that knows no bounds and bias. A multi-faceted podium for all your trade and payment needs that offers innovation and freedom through decentralization.
Technically, decentralization means: ‘The process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group’.
However, before we dig deeper into why we need decentralization, let me begin with a simple question: Have you suffered a loss and wished you knew how the system functions?
It is a very generic question and applies to a wide spectrum, for example, a loss can be a financial loss or fraud. It can also be a loss of information or denial of services or the right to information.
How many times could you resolve your queries about how our banks determine certain rules or impose fees?
I recently sent money to a friend in need and to my horror the bank charged me an additional $35 for processing the international transaction.
As a non-technical person, I could not really interpret how in the world of digitization this could be possible. When the world is moving towards globalization, our age-old systems, instead of keeping up with the trends, are getting stuck in their ways.
The anomalies in our present-day systems
Our conventional financial models are built upon centralization and the power of singular authority. These systems focus on numbers and the power of sales. In other terms, they prioritize the rise in user numbers that is directly proportional to profit and means growth for the business.
This long-standing centralized model has outgrown its boundaries for the global marketplace. Centralized system’s inability to cope with the fast-paced innovations, and inflexibility to customize is making them redundant. Not just this, centralized systems curb innovation and competitive environment through redundancy and monopoly.
A simple example to ascertain centralization’s impact lies in how it influences the Web.
While the Internet and World Wide Web were conceived as decentralized technologies, they have fallen into the monopolized trap with just a handful of behemoths determining its functioning. Google, Facebook, and Amazon are controlling their respective sectors and directing everything that happens on the internet. The current generation of web applications and services are largely centralized and exert control over user data and monetize it. What was once designed to be free is no longer democratic.
This, however, is just a superficial portrayal of how centralization is downgrading even the most innovative platforms, and it calls for a major disruption in the form of decentralization.
Decentralization is the key
While it may sound like a newfound marvel, decentralization has been around since ancient human societies and played a major role in determining our social organization. It has, however, just started to spread its roots deeper into the financial and other industrial sectors.
The upgraded version of decentralization is attributed to the rising dissatisfaction in existing systems, the aftermath of the great financial disaster in 2007. Decentralization took the world by storm after the dramatic entry of Bitcoin. Bitcoin and its underlying technology Blockchain shifted the attention towards existing discrepancies and emerged as an alternative solution.
The decentralized architecture of blockchain platforms such as The Virie Market is global. It can, therefore, tolerate attempts to shutdowns or attacks and offer censorship-resistance through a peer-to-peer network.
The Virie market is an open-source environment and the participants share its integrity and offerings on a distributed platform, free from any centralized control. It is basically a distributed ledger of records representing a consensus of participants. As long as the participants adhere to the consensus protocols, the system offers them the best in class features.
What makes Virie confident?
It is the transparency and immutability it offers to the users. Decentralization empowers and encourages transparency of information so that this information is available on-chain to anyone, anywhere in the world at all times. It makes platforms tamper-proof, so that no one, not even the most powerful authorities, can rewrite or modify what is already there on the chain.
Like a mute facilitator, decentralization empowers Virie to carry out trusted transactions and exchanges without any interference from participants or a group and ensures that it can be trusted.
Understanding decentralization through Virie features
While Virie platform resonates with an idea of a free-market economy, it is unachievable without true decentralization. At its core, the Virie platform is decentralized, which means:
- Virie has no control over any user or their information
- Users are free to exchange and trade whatever they wish
- All the participants are treated equally
- Virie encourages competition and innovation
- Virie rids you of middlemen
Decentralization works as an enabler for some of the most remarkable and innovative protocols that Virie platform offers. Let us explore them one by one in detail:
- Users are free to exchange and trade whatever they wish: The primary aim of the Virie network is to create a free market space for everyone. It does so by offering a platform that lets you exchange anything and everything in an unrestricted and protected environment.
- When on Virie a user can buy/sell his or her products or services in any order and in whatever mode they wish to transact.
- Virie has no say in the currency you choose or the commodities you sell or buy.
- It provides you an unrestricted and open platform where you are free to choose with whom you wish to exchange without revealing your information.
- Virie has no control over any user or his or her information: As a decentralized platform, Virie’s capability can be ascertained through its anonymous services and solutions.
- Virie does not ask you for your personal information while registering and during transactions.
- The transactions on this platform are entirely anonymous and cannot be tracked or traced, offering you the highest level of privacy.
- All the participants are treated equally: Virie implements the purest form of decentralization by offering unbiased and fair solutions to all its users. The platform never segregates you based on your commodities or the size of your business. It simply offers you a channel to globalize your business and exchanges without worrying about huge investments or costs incurred during expansion. In simple terms, Virie resonates with growth.
- Virie rids you of middlemen: A majority of issues in our existing systems arise due to intermediary parties that manipulate, cheat and steer the transactions in order to mint profits. They charge you for the services they provide. An incident I shared earlier in the article highlights how banks charge us for services that ought to be free (especially with digitized globalization transforming the markets globally).
The Virie market solves this issue by discarding these intermediary parties from the frame. It offers a unique Escrow feature that makes the participants responsible for the success of respective exchanges and transactions.
- Virie encourages competition and innovation: By offering equal opportunities to everyone, Virie curbs monopolism and ensures healthy competition. It initiates a cycle of innovation through fair opportunities for everyone on the platform. In fact, Virie itself reflects ample innovation through its unique protocols that make it a futuristic and efficient platform. From offering you unmatched protection through its multi-key feature to incentivizing you through its unique hybrid parity protocol, Virie platform oozes innovation and inspires the upcoming startups and platforms to adopt and adapt to these revolutionary features.
The true capability of decentralization comes from its participants and Virie realizes this.
Virie is a one-stop platform for everything decentralized. From trading to investment, from purchasing your favorite commodity to exchanging services, this platform offers you a free hand over your choices and empowers you through the liberty of decision-making. Virie’s user-friendly interface is the icing on the cake that goes a step further in engaging even those who are unaware of the underlying technicalities. Virie is the one and only platform that is ready to use even before the crowdfunding and highlights its integrity as an ambitious project.
Come, be a part of this revolutionary project and contribute to creating a free and fair world for everyone. All you need to do is download the Virie Application and submerge in this decentralized marketplace.0