Basically, your service offers an app that contain and keep our detailed personal data like full name, mother's maiden name, DoB, address, social ID, and other records securely so we can use them more conveniently, like autofill, while wandering around the internet? Plus it also act as an identity verifier (I'm trying to say, you act as an intermediary who state 'yes, the data this user just filled is correct and official') for sites that needs ID verification like (since we're discussing this in cryptoworld) bittrex exchanges' account, or paypal, etc?
The VALID platform will consist of a mobile wallet (VALiD Wallet) for users to manage their personal data as well as a web application (VALID marketplace) for data consumers to buy and access that data. Users and data consumers, who together form the “stakeholders”, 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.
So this is a new ecosystem where you can collect all your personal Data, like from Facebook or Google, Healthcare and more and make it your one so you can monetize from your one data.
So technically, instead of involuntarily let Facebook sell our ID and preferences to third party marketers, we just sell them ourselves and gain something from it?
I'm really curious here, and I believe there will be a lot of other people out there wanting to know about this too, so your answer will helps them understand: who would interested with my details, anyway?
Yes that's correct.
The marketplace is one of the aspects and it's optional to monetize your own data.
Through the GDPR regulation the services also have to provide your data in a machine readable format.
Which will make it easier in the future i.e. to import your collected data to your VALID wallet.
For further reading our legal analyst Krzysztof Adam Gorski has written an interesting piece about "the winners and losers of GDPR":
https://blog.valid.global/the-winners-and-losers-of-gdpr-be86f2179cacThe other two aspects of VALID wallet are:
1) Authentication (as stated correctly in your first statement)
and 2) Safeguard: The state-of-the-art encryption to protect your data.
Regarding "who would be interested":
There are several use cases. As Krzysztof writes in his very first sentence "Personal data is the commodity of the 21st century." or as the World Economic Forum calls it "a new asset class" (
source) you can think of how much our data is valued by i.e. marketers.
Another use case could also be your anonymized data for surveys and research.
With all your data that you create every second of the day and you as the beneficiary if this data gets used, there might even be the case of a "digital basic income" in the future:
https://blog.valid.global/claim-your-digital-basic-income-cdf3f1d84c7