Topic: [ANN]VETRI: Swiss startup realizing personal data management for the digital age - page 4. (Read 2424 times)

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

Unfortunately we don't have a classic bounty program.

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

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.

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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.(...)

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(...)

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

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Interesting that it is tied to NEO.

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

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.

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.

Following the successful completion of the presale, we have received questions from our community regarding the timeline for the minting of VALID tokens. The token minting process will be concluded in April 2018, at which point participants will receive the reserved tokens in their registered wallets. The token contract address will be announced simultaneously.

Why is the minting process done after the crowdsale?

Investments are allocated to the respective participants on the basis of the time of confirmation of transactions. By law, we are required to conclude the KYC process prior to crediting the allocated tokens to a participant’s wallet. The buffer period following the conclusion of the crowdsale permits for addressing allocation-related grievances (if any) before the minting of the tokens.

Besides these legal considerations, the minting process is also a superior way to allow contributions in multiple crypto currencies and fiat at the same time.

How are investments categorized into bonus tiers?

Investment allocations to bonus tiers are based on the time when the transaction is registered on the blockchain. Overflow transactions from one bonus tier will automatically be assigned to the next tier.

“The processing of personal data should be designed to serve mankind.” If that sounds like flowery, idealistic language, then the following might get your attention: That sentence introduces new legislation imposing fines on companies of up to 4% of their annual global turnover or €20 million (whichever is greater) if they fail to protect our personal data.

The reason why the European Union is leading the world in protecting its residents’ personal data in the digital age is because personal data protection is a human right according to Article 8 of the EU’s Charter of Fundamental Rights. For those who don’t know their Charter, this right is enshrined between “The right to life” (Article 2) and “Freedom of expression” (Article 11) — it is that fundamental.

As technology disrupts the existing order, we as law makers are being challenged to ensure that we strike the right balance. As we move from the old order to the new, we want innovation to flourish, while simultaneously protecting citizens’ rights. As a general principle, I apply the following test for new legislation in the technology space: Does it reduce transaction costs for ordinary people, while simultaneously enhancing their security?

One of the examples worth a closer look is distributed ledger technology, which is gaining in significance as an increasing number of entities discover ways of optimising their operations by utilising blockchain-based solutions. As the draftsperson of first text of the European Parliament focusing on distributed ledger technology, I have participated in several hearings on the potential benefits of blockchain as a revolutionary force within the public sector.
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