V-ID B2C update: first look at the app and the mechanics behind it
Why this business to consumer app?
V-ID’s mission is to tackle digital fraud in our ever more digitising world, so people can focus on innovation. The key for this is V-ID’s validation tech, which makes the authenticity of any digital file verifiable. A B2C app will enable consumers to contribute to this goal as well.
As this mechanism is very universally applicable, V-ID has been working on use cases in various sectors, where the authenticity of data is crucial. In the Oil & Gas sector, V-ID’s client AmSpec protects their inspection reports, while Highcare secures the reliability of accreditations of medical specialists. In a completely different sector, V-ID is collaborating with IBM to guarantee the integrity of sensor data in the Internet of Environments project.
We have seen from the start that protecting the authenticity of a file or document can also have it’s use for individuals. With this app, V-ID wants to put the power of our blockchain validation and verification in your pocket. The working title is ‘Pocket Validator’.
Why is it useful?
When creating any sort of original creative work, like editorial work / music / painting / drawing / photography / video etcetera, you automatically obtain certain rights to that work, including the right to prevent others from copying or using the work without your permission. This is called having the ‘copyrights,’ which is the primary type of protection for artistic work.
When obtaining a patent there are several things to consider. For example, an invention can no longer be protected by a patent if it has been made public before the patent application and a patent is granted for a specific period.
Claiming your original work is currently not easily obtainable and as soon as you share anything online, it should be considered public. V-ID aims to make it as simple as possible to notarize your copyright claim for anything digital, anywhere.
How does it work?
The aim of Pocket Validator is to make validating a file as easy as possible. When you fire up the app, you simply choose “Validate”, browse on your phone to choose the file and it’s validated in seconds. The file can be anything, a photo, video, scan, PDF or for instance an attachment you have received in an email.
In case of any potential copyright claims, your wallet address and the corresponding transactions show* that you were the one validating the file.
*The VIDT token transactions are key to the identification and confirmation of the identity of the publisher. Every time you validate a file, a VIDT transaction is made which records all necessary details (like filetype, validation location, timestamp & identity).
V-ID never handles your content
One of the most important features of V-ID’s validation is privacy. When validating, or verifying a file, you do not upload the file to V-ID’s servers. The only thing that is uploaded is the digital fingerprint of the file, which consists of 64 random characters that are completely incomprehensible and irreducible in relation to the contents of the original validated file. This means that your personal, private or confidential information never leaves your device, not during validation, nor during verification; V-ID does not handle, store or see any content.
For people who create and invent, this is an extremely secure way to confirm your idea / work existed at a certain time, without sharing it’s unique characteristics.
This part of the workings of V-ID’s tech makes it GDPR compliant, which is a fundamental standard for any business in the EU, and a crucial part of our mission to tackle digital fraud. V-ID has been working on this with CMS Law , one of the world’s largest law firms, and LTO Network. You can dive into this subject some more here and here.
What is the function of VIDT in this app?
VIDT is used as credits for validation, which is required once per file. Verification is free, unlimited. The required VIDT can be bought on exchanges and the fee per file is directly related to real time exchange rates, effectively stabilising the FIAT fee per file.
The VIDT token transactions are key to the identification and confirmation of the identity of the publisher. Every time you validate a file, a VIDT transaction is made which records all necessary details (like filetype, validation location, timestamp & identity).
How does B2C affect VIDT’s tokenomics?
Pocket Validation will be available for every consumer with a ETH or BNB wallet address. Just transfer an amount of VIDT and start validating! Every time you validate a file, a fee will be deducted from your VIDT credit balance, no additional BNB or ETH will be required.
To support VIDT’s tokenomics, 20% of every validation fee will be burned.
Pocket Validator benefits
So, what does V-ID add to other (sometimes free) services to validate data in a blockchain?
- Ease of use, no tech skills required
- Full privacy and GDPR compliance by design
- Unlimited free verification, by anyone, no account required
- Optional KYC guarantee to confirm your identity by a notary
How can I get involved?
Starting now, VIDT B2C aims to enable consumers to jump in as well, apply for our VIDT B2C BETA!
The 20 Applicants with the best idea / use case will win 1,000 VIDT and will be able to be the first to try out Pocket Validator themselves! Visit https://about.v-id.org/b2c and tell us something about yourself and your idea.
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VIDT Introduction: https://about.v-id.org/welcome
VIDT Dashboard: https://about.v-id.org/dashboard
VIDT Roadmap: https://about.v-id.org/roadmap
V-ID verification terminal: https://www.v-id.org
V-ID website: https://about.v-id.org