The Veryfile Solution

Enterprise File Management Market size is expected to grow from USD 31.66Billion (2017) to USD 67.14Billion by 2022, at a compound annual growth rate (CAGR) of 16.2%. The complexities of managing exponential data growth and the goal to secure confidential data have led to the adoption of the Enterprise Content Management solution. Despite the explosive growth of the Enterprise File Management market, companies often find it difficult to track documents. It is taxing to track where precisely they originate and the entities who view them. Every business amasses thousands of documents, and many find that managing said documents puts a strain on the company’s resources. Large corporations currently utilize software and cloud-based systems to manage internal and third-party documents.

VeryFile will provide an unrivaled solution to companies and freelancers who value the security of their confidential information. We will offer the most secure technology, making use of smart contracts that make it possible to automate countless business services, the transfer of documents p2p( user-user or entity-entity). Access to such documents will be controlled and tracked, and the cost of doing so will be drastically decreased. It is inevitable that the current centralized system will become obsolete in favor of our faster, decentralized network. In terms of transactions per second, we can match the system speed of our main competitor, Oracle.

However, we can do so guaranteeing optimal security and without the currently unsustainable costs of centralized warehouses and server maintenance. Significantly, we also do not require the customer to entrust data privacy to a third party. VeryFile is creating a global blockchain network for high quality, sensitive file management. Customized smart contracts will operate borderless and connect businesses worldwide. The VER token will enable an on-demand system that solves the pressing problems of tracking, securing and monitoring sensitive files and documents as well as solving issues of data accessibility and payment risk. Below you may find the characteristics of our solution:

Lower cost, Fewer intermediaries, Lower execution risk, Accelerate the processes, Reliability, Customization of the service/flexibility, Reputation, Proof of Existence*, Access Control.

VeryFile will allow you to store files via decentralized cloud storage and manage them using a simplified user interface. It will guarantee smart use of its features and the ability to track any transfer, ownership, verification, and signature of customer documentation by a decentralized and encrypted ledger. In addition, a smart contract network will guarantee the possibility of automating the processes of creation, transfer of the files in question as well as complete corporate procedures and daily tasks. Secondary functions such as the messaging service, email, call, and video call will allow you to perform daily tasks and manage everything within the platform in an encrypted and secure way, without the need to transport confidential information outside the VeryFile ecosystem.

The main system will be developed on a private blockchain and small ecosystem within the blockchain itself will guarantee independent data management of the various client companies. The system will not have transfer fees on its private blockchain and the ones validating them will be the administrators themselves chosen by the company which will validate the transaction for the transfers. VeryFile will not have direct access to the data but will represent a node with variable authorizations on the management of the system and the individual services dictated by the needs and priorities of the client. Further unique features are: Decentralized storage, Smart Contracts, TestNet, Regulator entities, Web App and iOS app, Email and messaging, Different format files, call and video call, etc.

Undoubtedly, Veryfile has yet a long road ahead, however, every factor so far has been positive. Our mission is simple and clear. Be the first complete decentralized ecosystem for sensitive file management.

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