Online commerce’s #1 blockchain-centric payment method for fraud prevention
VirtualVendor is an e-Wallet and transaction method for online payments. VirtualVendor is based on blockchain and puts security and transparency first. By using our own, managed cryptocurrency Virtuite -a stablecoin- we add the benefits of blockchain to your everyday online transactions. Thanks to Virtuite, your transactions will enjoy better transparency, enhanced security, true traceability and the speed and efficiency of a zephyr.
All these benefits accumulate into reduced transaction costs: Virutalvendor charges low commission fees. While other online transaction platforms will have to account for offsetting possible fraudulent transactions in their pricing, VirtualVendor, through using blockchain, does not have that issue. All transactions are safely stored on the blockchain and we securely store your Virtuite in your e-Wallet. Another financial benefit: no intermediaries need to be paid.
If you ever buy or sell anything online, VirtualVendor’s for you!
When the term ‘blockchain’ entered the tech scene over 10 years ago, we saw its possibilities to fundamentally change the way online transactions occur. Blockchain grew up over the years, cryptocurrency-waves are coming and going and the technology is now finding its place in modern society. During the course of these developments over the years, we noticed something else: the sharp increase in online payments. The benefits of online payment systems that facilitate these transactions are speed and ease-of-use. However, there is a major downside: online payments are prone to fraud.
One of the biggest fears a vendor could have is to encounter transaction fraud. We’ve analyzed the online market and found out that transaction fraud is more prevalent than we thought. As you might know, fraud can be extremely detrimental to the world of e-commerce: A webshop owner can lose over €2,- for every €1,- of a transaction.
We wanted to find a solution for this problem: this where we started to dream.
We dreamt of the best security the online world could have, and we quickly stumbled onto Blockchain. Not much later, the concept of Virtualvendor was born. By developing our own cryptocurrency, Virtuite, we can bring that much needed extra security into your daily life.
Within mere minutes you can have a Virtualvendor account ready in order to use our plug & play API, enabling you to carry out your financial operations with more security and efficiency.
The core of what makes blockchain such a revolutionary technology is its power to facilitate transparent transactions through its ledger. Because Virtuite uses a distributed ledger, transactions and data are recorded identically in multiple locations. All transactions are carefully recorded and stored, which eliminate any opportunity for fraud.
Thanks to Virtuite’s blockchain, its record cannot be altered and enjoys end-to-end encription, which makes Virtuite’s blockchain extremely efficient in preventing fraud and unauthorized activity. Additionaly, your privacy is maintained by anonymizing your personal data. And we safely store your Virtuite in your own, private VVallet for you to convert whenever you want.
Because blockchain is based on decentralised consensus, transactions can’t simply be changed by one single party and will only be fully commited once the peer-to-peer network has checked and agreed to the validity of the transaction. Once committed, the record can’t be changed.
All transactions on the blockchain are recorded in a ledger. This ledger is evenly distributed and maintained by every user on the system. This way, everyone contributes to keeping all transactions safe and transparent.
Since the validation of transactions is based on general consensus of independent computers within the network, there is no chance for third parties to tamper with the transaction.
The general consensus of all nodes in the network is determined by algorithms. These algorithms help the network to determine the validity of transactions.
Like many of you, we’ve watched blockchain technology take the world by storm. What started off as an elusive fringe concept has now evolved into a staple technology that conquers offices and headlines alike. Both cryptocurrency and blockchain have certainly come a long way from their cradle and its efficiency continues to improve.
We firmly believe that the true value of blockchain and cryptocurrency does not only lie in its transparacy or logistical capabilities, but also in its decentralization principles. By its nature, it shifts control and transaction management from traditional institutions to the masses. Through Virtualvendor, both small-scale business and large firms gain access to the benefits of blockchain. That is where its true power to disrupt lies, and at VirtualVendor we want to put that power into your hands.
We’ve built the world’s first financial transactional system that uses blockchain technology to support traditional fiat currency transactions. Ultimately, our system provides numerous benefits to both sellers and buyers of products.