[Crypto Currency] An alternative to the data economy in Europe, Val (ID: VLD)
In today's Crypto Currency time, let's take a look at Vel: ID.
One of the countries that is strongly promoting cryptography is the Swiss currency coin, a token made on the basis of ERC 20.
It is a similar item to the data wallet that I reviewed last time. It is a coin that came out as a concept that can be changed into asset value with personal data.
The basic concept is the same as Data Wallet. Val: ID's platform provides the data that the individual allows, and the platform can anonymize it and provide it to the requested enterprise or target audience.
You will be able to receive tokens in exchange for these data.
This valid structure can be configured to send data, consists of a market environment that can be purchased, a Valid Wallet that is provided in the Valid Marketplace, and records personal data management and IDs proving that you
Authenticate yourself.
The strength of Valid is also related to the privacy restrictions in Europe.
The European Privacy Act (GDPR) is a regulation that replaces the existing Privacy Directive (Directive 95/46 / EC) in 2016, effective May 25, 2018.
That is, the previous guideline, if applied to a corporation established in the EU, ignores its physical location and acts as a compulsory law on the privacy of residents in Europe.
The main rules of GDPR are as follows:
- Obtain agreement
- Notice of Violation
- Personal information, access rights
- Right to be forgotten
- Information mobility
- Privacy-centered design
- Information Security Officer
Since each content is too long, please refer to the following link.
https://hacktagon.github.io/chinnie/law/gdpr/privacy/GDPR_01
Valid is likely to be a powerful alternative to GDPR.
In terms of industry, we can see that huge market is already formed in activation of data market.
The US Fair Trade Commission (FTC) estimates that there are about 600 to 700 groups of information brokers, data brokers and information resellers in the United States, with an industry size of about $ 15 billion ($ 17.7 billion).
The size of the data economy in Europe is estimated to reach 272 billion euros in 2015 and to rise to 643 billion euros in 2020. (European Commission, 2017)
Val:ID is a great item to dig into this part. Val: ID will also be able to expand the market for eID protocol and access other companies' ID solutions to expand the market.
1 billion copies sold, 500 million copies sold
It is going to be discounted by Toko discount at the time of ICO.
Dividends are as follows.
Foundation 9%
Procivis 9%
ITO cost 2%
ITO 50%
Val: ID Growth 30%
The ratio of the amount of the fund to be used is as follows.
Contingency 10%
Marketing 14%
Operating 17%
Salary 57%
ITO transmission cost 2%
Danier Gasteiger is CEO of Procivis driving the Val: ID and a member of GBBC.
GBBC is Global Block Chain Business Consociation. It is an organization that carries out business related to blockchain technology commercialization.
Members of the advisory board are also strong.
Chairman of the Swiss Association of Block Chains, ICO Manager of Lykke, members of the European Parliament.
Lykke Corp. is a pin-tec company established in 2013, specialized in block chain.
The current exchange is in operation and Val: ID is listed on Lykke.
Froriep is a Swiss law firm, and is likely to act as a partner primarily advising on privacy laws.
Procivis is a data-driven company that performs Swiss e-Goverment. I have launched an app that deals with government online services such as resident services and tax services called E-ID as a core company that carries out Val: ID as a block chain.
Queo is a software company involved in the development of Procivis and E-ID.
It seems that I'm also attending this Val: ID and helping.
Until 2018, it seems to be faithful to the development of eID.
In 2019, we have launched the Val: ID Foundation and are planning to launch the block chain and e-goverment services in earnest.
In other words, the information processed at Val: ID seems to be pushing the roadmap to secure a user base that is preferentially used through E-ID.
Let's summarize. Val: ID is a block-chained service that is devising a platform to make personal information valuable, like a data wallet.
We have taken a position to respond to the changing GDPR in Europe and we have the support to support it.
In addition, we have already launched a demonstration model that can be used as an actual block chain, and it is a block chain that is expected to have a plan to actually support Swiss government services.
Val: ID site: https://valid.global/
Recommendation code: OVFKNF
Telegram: https://t.me/valid_global
Medium Blog: https://blog.valid.global/
Twitter: https://twitter.com/valid_global