The Valid Project (VALID), a sovereign, blockchain-enabled digital identity and personal data platform, has published the statistics from its token sale that ended on the 17th of March, 2018.
VALID intend to incorporate NeoID as a supported identity protocol for the development of VALID’s agnostic e-Identity layer. The NEO Council is also a key strategic investor for the project. The complete details of VALID’s relationship with NEO can be read here.
VALID is an open source iteration of the Procivis digital identity platform and uses part of the e-government platform eID+, also developed by Procivis. The platform allows people to authenticate and safeguard their personal data online thanks to encryption, and also allows people to share anonymized data to digital advertisers. As an incentive for sharing their, people will be rewarded with VALID ERC-20 tokens.
The VALID platform consists of a mobile wallet for users to manage their digital identities and a web application for advertisers to buy and access that data. Both users and advertisers can buy, share and request their data from third parties in a user-controlled environment.
VALID claims that personal data will become a new asset class in the 21st century and that regulators worldwide will place increased pressure on companies to comply with data protection laws. As a result, services like VALID will enable people to request their data without effort and store it privately with their VALID wallets, while also giving explicit consent to advertisers to use their data anonymously in exchange for VALID tokens.
Finally, VALID’s protocol agnostic marketplace will allow the platform to continue to sell and iterate its eID+ solution, with the most successful protocols supported and monetized via VALID tokens. This means that the VALID marketplace will not be exclusive to data held in VALID wallets, but will be accessible to 3rd parties, allowing other communities to monetize their data for use by advertisers anonymously.
The following statistics were released the VALID about its token sale.
- Funds raised: equivalent of 10.73m USD
- Total of tokens minted: 449,848,163 VLD
- Total of tokens designated for distribution to participants: 224,924,082 VLD
- Number of participants: 1,585
- Number of countries: 69
- Major contributing region: D/A/CH
Distribution of tokens held by the company
- Foundation (9%): 40,486,334 VLD
- Procivis (9%): 40,486,334 VLD
- Growth Fund (30%): 134,954,449 VLD
- ITO Costs (2%): 8,996,963 VLD