V-ID blockchain $VIDT
V-ID is a blockchain powered validation service. The V-ID technology enables organizations to certify and secure their digital data against fraud and manipulation. V-ID utilizes general and trusted principles to enable certification and verification for any digital file. V-ID is an established product that is used by 40+ customers from various industries, such as legal, education, medical, research, and tech, serving customers like Airbus Defence & Space, AmSpec, Krohne and JWC Superyachts, among others. An important aspect of the company is that V-ID software was already in use even before the fundraising was started.
As society continues its digitization process, new types of digital crimes emerge. The media is filled with reports of incidents such as data leaks, identity fraud, document forgery and fake news on a daily basis. The blockchain technology can provide a breakthrough in the battle against these criminal activities. Blockchain technology has the potential to become one of the most important technological pillars of the modern world. For an IT company like VIDT, the opportunity to help shape this technology with concrete applications and added value is the most exciting and important work imaginable. The mission is to safely certify and secure all digital assets, so fraud and errors no longer hold back innovations in digitalization. V-ID appeals to businesses that require high accuracy. V-ID's data security can be used for government agencies, finance, education, medical departments, legal practices, research and reports, IoT, invoices, contracts, sensor data, logistics, video footage, photo material and much more.
The VIDT utility token is an ERC20 token that is used to identify wallet addresses (for issuers / validating parties) and is used as payment per validation. The VIDT token is the key factor that makes validation possible. Organisations buy monthly bundles of VIDT from the Main Wallet in accordance with their usage. Every time a validation is done, a transaction with VIDT will occur which records all necessary details to track back the file type, validation location, timestamp and identity of the Validator. Once the transaction is done, the VIDT is transferred to the Validation Wallet from where the token is sent monthly to the Main Wallet and burn address in 80% and 20% formula respectively. Further there is a monthly token buyback by V-ID, where 10% of the tokens are bought back from the open market. This way the VIDT token becomes deflationary which ultimately leads to the increase in the value of the token. The initial total supply of VIDT was 100M tokens, and through a process of various burning mechanisms the current total supply is presently at 59M tokens, the circulating supply is more than 44M tokens and the market cap is $5.95M USD. The price of the token is $0.15 USD and the daily volume is $811,614 USD VIDT is currently listed on exchanges such as Kucoin, Hotbit, Idex, Binance Dex, Beaxy and Fatbtc
V-ID was initially developed by WIDIDI, an already established company that specializes in secure applications specifically for shipping, industry, police and defence. WIDIDI's vast network with high level industry leaders over 15+ years helped in rapid adoption of the VIDT platform. V-ID is now a separate company. The core team is highly skilled and heavily experienced and has been working together for past 15 years. Marnix van den Berg the CEO and Co-founder has 15+ years in project coordination, interaction design and user experience. Pim Voets the Lead Concept Designer and Co-founder has 15+ years experience in concept development and UX design Ceciel van Helden Lead Programming and Co-founder has 15+ years experience in platform code layer, basic logic and core processing engine. Wico van Helden is the Chief of the Board and co-founder with 25+ years management experience, has earlier worked with Seagull Software. The team is expanding heavily with addition of experienced professional Gert-Jan Huizer and a deal with scale-up experts to expand the company to next level. Their advisor team too is stellar Dr Alan Whitfield is an Advisor with 20+ years management experience in Congruis Limited and Wididi Jolanda ter Maten, Advisor with 20+ years experience in ICT, HR and management Bastiaan Oosterdam, Advisor, Alterdax (Business Dev Director) Magnus Dufwa, Advisor, Blockalize (CEO), ShipChain (Lead Dev) Their platform is being used by 40+ companies worldwide from sectors like education, medical, law and heavy industry doing about 50K validations per month. Some of their top clients include Airbus Defence and Space, KROHNE, AmSpec, JWC Superyachts, ESHRE, Maritime Cyber Alliance etc. They have built some really impressive partnerships with CMS Law, LTO Network, Digibyte, Axveco, Morpheus Labs, MoonRock Capital, IBM Circular Economy Data Network etc. Their most recent deals include working with multiple governments by providing validation service within the Fantom network, they also closed a deal with a global hardware player in January 2020. They have been selected for the Binance Community Vote round 6 and have the best chance to get listed on Binance exchange by winning the voting competition. Voting will begin on 2020/02/20 4:00 AM (UTC) and will remain open for 24 hours. Some of the upcoming developments: Collaboration with IBM on the sensor-data project Internet of Environments, with the IBM grant to fund the integration of V-ID tech into IBM Watson AI. Round Table Sessions with CMS Law, AmSpec, Vopak and DNV GL. V-ID powered B2C applications, After our corporate projects comes our first consumer service. Paying with VIDT, individuals can use V-ID's Validation service to validate files. Deepdive for GDPR compliant blockchain solutions in collaboration with CMS Law and LTO Network. API V3 'trust automated' roll-out. API validates and verifies files in real-time. Working with Fantom Foundation on numerous government projects . Working with exchanges and partner token projects in joint activities such as conferences, meetups, and joint projects. Working with thought leaders in their own fields to gain traction in specialized business sectors, like securing a Rembrandt with Europe’s oldest art dealer Douwes Fine Art, bringing blockchain powered KYC to the financial sector with Caltrix Capital and shaping EU legislation around blockchain with CMS Law, one of the largest law firms in the world. Further international scale-up with partners and resellers. Main focus on Europe, Asia and Middle-East in the following sectors: Oil & Gas, Education, Art, Sensor-Data & Firmware.
V-ID with help of blockchain technology prevents fraud in digital certificates. Precisely it embeds the fingerprint of a document into the blockchain. The documents can range from invoices to educational certificates. Once the document becomes validated on blockchain, it can be verified from anywhere in the world. V-ID users can be divided into two groups, creators and receivers, once a creator registers(validates) a file on V-ID, the receiver can verify its authenticity. If a file is changed with just one byte, pixel, character or anything else, the fingerprint is changed and V-ID will detect it 100%. Complete transparency is guaranteed through the Usage dashboard, where all validations can be viewed in real time. The V-ID Token (VIDT) is what makes it all possible. V-ID appoints KYC-ed publisher wallets to issuing organizations containing a balance of VIDT. VIDT transactions then record all necessary details (hash of the file, timestamp, corporate wallet address etc.) every time an organization certifies a file. Validation can take place in three methods, one by a V-ID certified employee, second is self validation and the third way is through API validation. In first method the V-ID staff members do the validation on site. If the client wishes, a V-ID trained notary will be present as well to confirm ID's and oversee the validation process. In second method an employee of the issuing organisation is allowed to validate files at any time. First an employee of theirs is appointed as a Validator then that person's identity is established by an on-site V-ID agent and a V-ID appointed notary. After a profile is created on the platform the Validator can use the user friendly Validation Terminal to validate files. The third method is a server-to-server process. The V-ID API extracts the fingerprint of a file from the code that the company software uses to create that file and validates without really needing the file. This validation process is completely non-intrusive to the normal workflow of the company. Furthermore the files are anchored to one of the 7 blockchains used to save the digital fingerprint of the file, they are: Ethereum Fantom Foundation LTO Network IBM's Hyperledger Binance Chain Digibyte and Bitcoin Currently an app is being developed for individuals who can use V-ID's validation service to validate their files such as their paintings, songs, documents or anything digital from their own personal computer or smartphone. The B2C app will be launching in Q3
VIDT is a true utility token as it is the backbone of the whole validation process. V-ID is already a revenue-generating business servicing clients across the globe with new clients and resellers added each month and validations rising continuously. Both V-ID and WIDIDI are debt-free companies with V-ID team having a two year cash runway, which ensures longevity and consistency of the company. The team has greatly surpassed its Whitepaper speculation and continues to hit every milestone. So when you hear about VIDT, think about data integrity, think about fraud prevention and about doing business, in a safe way.
With the amount of progress they have made and the solid backing they receive from the parent company along with the niche segment of digital file protection and validation gives VIDT great potential to the appreciation of the price of their token.