Idea & Token
VALID allows you to securely authenticate online, lock your sensitive personal data on your mobile device, and then manage the data on your own. Then you will be able to share your anonymized data and get rewarded for the access with VALID tokens. The data after being collected from a number of user then can be used by advertisers to create target audiences, and therefore the users will get relevant marketing.
The ecosystem consists of two parts – VALID wallet and VALID marketplace. VALID wallet is a mobile platform to manage your digital identity. Your personal data (for example your age, weight, salary, etc.) is stored on your mobile device and protected multiple times and in different ways including reliable data encryption. The information is absolutely under your control, even the VALID employees cannot access it.
You use the wallet to define which information can be accessed on the VALID marketplace, a platform for digital marketers where they can buy the anonymous information for their needs for the VALID tokens.
VALID tokens called VLD are the currency for the platform. Though VLD is a ERC-20 token, the team reserves the right to change the base blockchain in case a better option arises. VALID presents itself as an open-source not-for-profit platform and doesn’t charge tokens for the access to the platform. Moreover, the profit from blockchain transaction fees will be converted to VLD and paid back to the users. The company is going to sale 500 million tokens (a half of maximum supply) at a price of 0.065 USD for a VLD with descending discounts. We also have to say that pre-sale is already over with $7 million raised for 24 hours.
Valid is a next iteration of the Procivis project, therefore has the same top management – Daniel Gasteiger and Yves-Alain Petitjean. Gasteiger is also a co-founder of nexussquared, blockchain-based startup platform, and a member of the Global Blockchain Business Council board of directors. Petitjean has huge experience in financial sphere, for example at UBS and Banco Santander. The core team consists of 9 specialists and plus 16 members of extremely professional and experienced extended team and advisors, including for instance a former Cisco CTO, the President of Bitcoin Association Switzerland, and even a member of European Parliament.
Procivis was working with Swiss government and implemented platform alD+ for digital identity. Therefore we can expect that VALID will keep this relationship and use it for their growth. Anyway, the main focus of the project is on the digital marketers, not government needs. The idea itself is pretty good, the team is excellent, so it looks like the project has everything to become successful. But don’t be too hurry. They still don’t have a product, and implementation goes quite slowly. And we don’t see their desire to work on additional value of the token, so we wouldn’t expect explosive growth of its price. As a bottom line we like the project and evaluate it much higher than average.
Nowadays we are getting more and more accustomed to the fact that large software corporations as Google or Facebook know everything about us, and they own our data for free. VALID is aiming to give you an ability to keep your personal data securely and earn tokens for providing access to the data in anonymous form.
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All your data under your control
With VALID, users will be able to authenticate online and safeguard their personal data thanks to state-of-the-art encryption. Furthermore, users will be able to proactively share anonymized data, thus enabling the creation of target audience filters on the VALID platform for digital advertisers. In return, users will receive timely, relevant marketing AND be rewarded in VALID tokens.
The VALID ecosystem
The VALID platform will consist of a mobile wallet (VALID wallet) for users to manage their digital identity and personal data as well as a web application (VALID marketplace) for data consumers to buy and access that data. Users and data consumers will be able to add data, request data from third parties, get their data verified, manage their privacy settings, buy services and finally share and monetize their data in a fully user-controlled fashion.