[ANN]VETRI: Swiss startup realizing personal data management for the digital age

[valid_global]

New Blogpost: VALID EXPLORES INTEGRATION OF NEO’S DIGITAL IDENTITY PROTOCOL & CONFIRMS KEY INVESTMENT FROM NEO COUNCIL

https://blog.valid.global/valid-explores-integration-of-neos-digital-identity-protocol-confirms-key-investment-from-neo-d79b0a4a1f0e

Procivis AG, the company behind the VALID project, is pleased to announce that it will seek to incorporate NEO’s native digital identity layer, NeoID, for the development of VALID’s agnostic e-Identity layer and is proud to confirm NEO Council as a key strategic investor in VALID.

With VALID, Procivis is taking personal data management to the next level. At the core is a user-controlled digital identity solution allowing people to transact online securely and seamlessly while safeguarding all their sensitive personal data. Furthermore, the VALID marketplace can directly connect users with data consumers such as product and service companies, brands, researchers and advertisers. With the VALID wallet, users can directly and easily start monetizing their personal data in a fully secure and controlled fashion on the VALID marketplace. In return, data consumers gain direct access to reliable, anonymized data in a compliant and cost-efficient way.

When asked about the decision to experiment with NEO’s digital identity protocol, VALID CTO Giorgio Zinetti said, “We believe that blockchain-enabled digital identity solutions need to become a public utility in the future. The underlying infrastructure needs to be able to handle an extensive number of transactions in a cost-efficient way and NEO is already achieving this. However, we need to build a standard that allows projects such as VALID to integrate easily with NEO. Therefore, we look forward to collaborating with the NEO community to establish a respective NEP standard.”

NEO’s blockchain infrastructure provides several advantages over existing platforms. For instance, NEO’s consensus protocol, Delegated Byzantine Fault Tolerance currently permits the network to process up to 1,000 transactions per second with the potential to scale up to 10,000 transactions per second in an energy efficient manner.

VALID is continuously exploring new technologies that could support this vision. The number of blockchains that support smart contracts and are operational still remain limited. The VALID token is currently based on Ethereum’s ERC 20 standard and the identity layer would support Ethereum’s ERC725 and ERC 735 protocols. But VALID remains agnostic with regards to the identity protocols supported by its platform and the above reasons make NeoID a highly attractive proposition for VALID. As such, VALID is looking forward to exploring the potential to implement a NEO based identity smart contract, allowing VALID to expand its reach beyond the Ethereum world.

more via: https://blog.valid.global/valid-explores-integration-of-neos-digital-identity-protocol-confirms-key-investment-from-neo-d79b0a4a1f0e

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[Apekool]

Interesting that it is tied to NEO.

Do you see yourselves as a competitor to Remme.io?

[Apekool]

Sold out pre-sale. Selling out the pre-sale is a solid sign that there are others that stand by the vision of the project and believe in the team.
Government partnerships. If the VALID team can capitalize on their government partnerships and provide digital identity solutions to citizens, the implication could be huge.

That is indeed an aspect that needs more attention.

The adoption of just a single government of this technology/concept would entail millions and millions of digital accounts of citizens. And in the case that happens, it probably won't end there.

[valid_global]

Interesting that it is tied to NEO.

Do you see yourselves as a competitor to Remme.io?

The more projects are launched on the digital identity field, the more awareness is generated for this topic, the higher the chances for mainstream adoption.

Remme.io is working on identification for online services.
VALID is going a step further and implementing a full on data management system, through our VALID wallet.

We believe that blockchain-enabled digital identity solutions will become a public utility within 5-10 years and that there will only be a handful of protocols that will succeed.

Additionaly the VALID marketplace will be eID protocol agnostic:
While we are developing our own eID solution, we ultimately intend to also accommodate the most successful eID protocols via an agnostic platform (see our partnership with Sovrin), all compatible with our personal data marketplace, enabled by our VALID token.

 

[valid_global]

Ask Me Anything: AMA today on r/NEO 2pm (UTC+1)

https://www.reddit.com/r/NEO/comments/7ywmua/valid_platform_backed_by_neo_council_keen_to/

Join us today in 10 minutes for the AMA

more via: https://www.reddit.com/r/NEO/comments/7ywmua/valid_platform_backed_by_neo_council_keen_to/

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[luksbit]

Can I use unique authentication for all the applications I use, such as facebook or twitter?

[valid_global]

Can I use unique authentication for all the applications I use, such as facebook or twitter?

Yes if the services accept VALID’s eID solution, you can authenticate seamlessly there.

[valid_global]

Roadshow destination #6: ProductHunt - Geneva

https://blog.valid.global/valid-on-the-road-product-hunt-geneva-594056b4da67

On a rainy day in Geneva, Procivis AG CFO, Yves-Alain Petitjean was hosted by Product Hunt Geneva at the Impact Hub to present the company’s latest project, VALID. The event attracted an audience of over 60 people and was also livestreamed to an online audience through sli.do.

The presentation focused primarily on the future of blockchain based digital identity. Yves explained that VALID may be seen as a natural successor to Procivis’ eID+ government solution, putting the company on course to achieving its vision of empowering users with fully self-sovereign digital identities. Enabled by blockchain, VALID would make it possible for users to construct a digital identity and have their claims attested by trusted third parties such as NGOs, supranational organisations, or even social media platforms. This marks a paradigm shift from the status quo, eliminating the dependence of users on governments to obtain a recognised identity(...)

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[valid_global]

Roadshow destination #7: Brazil

https://blog.valid.global/roadshow-destination-7-brazil-3fb3a1f5483

Daniel Gasteiger, CEO of Procivis AG was welcomed in Sao Paulo by Edelweis Ritt, CTO of Trubr, marking the start of VALID roadshow in Brazil. The visit featured a meet up with the blockchain community in Sao Paolo followed by meetings with the Government of Brazil in Brasilia.

The meetup in Sao Paulo introduced Trubr and VALID to an audience of 50 blockchain enthusiasts. Among the attendees were representatives from the group, Women in Blockchain, Brazil. Edelweiss opened the event with an introduction to blockchain technology. Danny then presented VALID, sharing his vision of empowering users with a fully self-sovereign digital identity solution which places user control over personal data at the forefront. The VALID vision resonated with the audience leading to an active Q & A session following the presentation.(...)

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[valid_global]

New Blogpost: Token Sale Essentials — The VALID Token

https://blog.valid.global/token-sale-essentials-the-valid-token-c44c0ef69948

With the VALID ITO, Procivis AG seeks to contribute to the development of ITOs as a powerful tool to drive future innovation by building a supporter base of early adopters as well as enabling the allocation of capital for the development of an independent and publicly available platform.

ITOs have ushered in an era of unprecedented access to capital for innovation. With a well-articulated vision, entrepreneurs can now transcend geographical barriers to reach a global base of supporters. On the other hand, easy access to capital has also made the system prone to abuse with a host of questionable projects raising astronomical sums of money by defrauding unsuspecting individuals. In this post, we seek to inform the VALID community about our efforts to comply with the highest standards of regulation, the rationale behind launching the VALID token, as well as the utility and economics of the token.

(...)

more about regulation and why our own token via: https://blog.valid.global/token-sale-essentials-the-valid-token-c44c0ef69948

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[valid_global]

REMINDER CROWDSALE STARTS IN 45 MINUTES

Participation ONLY via https://valid.global/

[valid_global]

HARD CAP 25,000,000 USD

[Aivengo111]

Verdict
VALID is a non-profit working to give you control over your digital identity. The platform includes a wallet for you to manage your identity and personal data as well as a marketplace where you can sell your information and activity to digital marketers.

The team is filled with blockchain experts and has already formed partnerships with the Swiss government. Although VALID is yet available, it’s a piece of the already established product, Procivis.

Risks
    Unclear revenue model. As a non-profit, VALID is not motivated to make a significant amount of money or increase the token value. In fact, part of the token allocations is slotted to keep prices under control. (-4)
    Empty Github. The Github repository has barely any commits with the last bit of activity almost two weeks ago. The project should have more active development. (-2)
    No product yet. Any project without a working product and users is inherently risky. (-2)

Growth Potential
    Strong team. The team is 24 members and advisors strong with expertise in a range of relevant fields. (+5)
    Sold out pre-sale. Selling out the pre-sale is a solid sign that there are others that stand by the vision of the project and believe in the team. (+4)
    Government partnerships. If the VALID team can capitalize on their government partnerships and provide digital identity solutions to citizens, the implication could be huge. (+6)

Disposition
VALID receives an average score of 7 out of 10. Even though the idea seems valuable, as a non-profit, it doesn’t look as if the team is motivated to increase the value of the token. The partnerships with the Swiss government entities are important, but the project is first focusing on personal data sales to digital marketers, not government digital identities.

This is a good rating from hacked.com.
Here is the proof: https://hacked.com/ico-review-valid/

[Ukraine2020]

Hello! An interesting and promising project!
How can I participate in the project bounty?
Thanks for the answer!

[valid_global]

Hello! An interesting and promising project!
How can I participate in the project bounty?
Thanks for the answer!

Unfortunately we don't have a classic bounty program.

[Ukraine2020]

...

Unfortunately we don't have a classic bounty program.

Thanks for the answer!
And what is the bounty program then?

[valid_global]

...

Unfortunately we don't have a classic bounty program.

Thanks for the answer!
And what is the bounty program then?

We had an ambassador program. The signup is per se closed, but if you have a good idea for one of the pillars, shot us an e-mail:
https://blog.valid.global/valid-ambassador-program-bf62f49a81b8

[Ineff]

Dear all, I have interviewed Daniel Gasteiger, CEO of VALID.

Interview on Medium

Have fun and thanks for feedback!

Regards
Ineff

[valid_global]

Token Sale Essentials — Soft Cap, Hard Cap, Strategy and Values

https://blog.valid.global/token-sale-essentials-soft-cap-hard-cap-strategy-and-values-7e4b3116c09d

As we approach the end of the first week of the crowdsale, we would like to give our community a quick update. With USD 10.5 million raised, less than a week into the crowdsale, the VALID team is thoroughly pleased. This marks an important milestone in the VALID journey and takes us one step closer to delivering our vision. As a community driven project, we would like to take this opportunity to express our gratitude to all our supporters. In this blogpost, we seek to inform our community about the crowdsale milestones, strategic tools and the values which shape VALID.

In an era marked by eroding privacy standards, VALID is driven by the end objective of restoring control over personal data in the cyberspace, back to the user. We operate in a dynamic industry marked by changing regulatory regimes, shifting public opinion and accelerating pace of innovation. On the regulatory front, the EU GDPR is set to disrupt the existing order and empower users with greater control over their personal data. In 2017, a survey by the International Data Corporation (IDC) found that 70% of US consumers felt that their concern regarding privacy is greater today than just a few years ago. [1] And on the technological front, our data collection and processing capabilities have expanded exponentially over the past few years with 2015 and 2016 generating 90% of all the data ever collected in history. [2]

With the sand shifting under our feet at a rapid pace, it is vital that VALID adopts an agile approach which permits it to move in line with an evolving reality. It is natural human tendency to get fixated on solutions, thus getting disconnected from reality. This is termed as the Einstellung Effect and has been recognized by the Lean Startup Co. as one of the biggest mistakes that an entrepreneur can make. Instead the lean startup approach recommends “falling in love with the problem” and making it the guiding light (the north star) through the course of building a product.

While the lean startup approach offers vital lessons in operationalizing a project, it falls short when it comes to informing methods of managing resources. This leads us to Saraswathy’s theory of effectuation (2001). The theory of effectuation outlines decision making principles employed by expert entrepreneurs operating in contexts of uncertainty. This is in contrast to causal reasoning employed by large corporations which traditionally operate in a context of greater certainty than startups. *

A startup would be better advised to employ effectual reasoning which involves identifying the means available and then defining several feasible paths towards the end vision, given the means, on an ongoing basis. The truth is, no one really knows the ultimate solution which will be able to deliver our vision of restoring privacy to users. Thus, we believe that making the problem our north star and planning with the available resources, on an ongoing basis, places us in the best position to adapt to the evolving setting we operate in and ultimately deliver a product which is aligned with the user’s needs.

The Hard Cap, Soft Cap and the interstellar space in between

These theories which have now emerged as the holy grail of startup strategy, have informed our decisions on the hard cap, soft cap and the 3rd milestone between the two, USD 10 million. The soft cap marks the absolute minimum required to deliver an MVP with bare minimum. This would limit our ability to invest on building a community, which we believe will form the backbone of our project. The onus of taking the VALID vision forward would then be shifted to other innovators who may build upon the open source VALID platform which has been delivered.

We are fortunate that we have surpassed this important milestone and reached the next one, USD 10 million which places us in a strong position to deliver the full VALID vision. That brings us to the question about the hard cap. Any further progress from USD 10 million towards the hard cap would increase our financial power to invest on the following areas: 1. Local community development teams in strategic locations across the globe, 2. A fully centralized technical development team in the Zurich headquarters, 3. Broader humanitarian pilot projects to further VALID’s objective of inclusion and empowerment.

The VALID Vision and Values

If the history of technological innovation has shown us anything, it is that capital is one of the many factors which influence the success of a venture. Bill Gross, founder of the iconic startup studio, Idealab ranks funding as the 5th indicator of startup success, below timing, team, idea and business model. This is also reflected in Procivis’ own story, which is a bootstrapped venture and has now been ranked among Switzerland’s 50 startups to invest in by Bilan and is also a revenue generating enterprise with its eID+ product.

VALID marks the next step in Procivis’ vision, of empowering users with a fully self-sovereign digital identity, thus eliminating exclusive dependencies on governments for the issuance of identities. With privacy and control over personal data being an issue which affects virtually everyone, we believe that the success of VALID depends on fostering a healthy community with shared values and vision.

The crowdsale is thus, the first step in our journey of building a community and opening up the opportunity to participate in our vision. We believe that the values that we stand for must be ingrained in everything we do, our token sale included. As a result, we refrain from using marketing tools which diverge from what we stand for. Having reached our USD 10 million milestone, our efforts over the remaining period of the crowdsale will be focused on empowering our community members to advocate the VALID vision and share the opportunity to participate in the journey with their likeminded peers.

Footnote:

* Causal Reasoning refers to an approach adopted by corporate leaders where a specific end goal is defined following which the means required to achieve this end are identified. For example, Nestlé sets a target to achieve a 2% CAGR on revenues between 2017 and 2020. With this target defined, the company puts in place the means required to achieve it, which may include a large marketing team and budget. This works in situations where the organization has virtually unlimited means to achieve an end.

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[valid_global]

Dear all, I have interviewed Daniel Gasteiger, CEO of VALID.

Interview on Medium

Have fun and thanks for feedback!

Regards
Ineff

Great Interview!

Thank you for your initiative