This end-of-month-ask-me-anything was organised by the wonderful mods of the unofficial VIDT community. The questions below are the winning submissions from community members, who all rightfully won free VIDT merch for their contributions :)
1) We have one IBM sensor. How long does it take to install the 2nd sensor, 3rd and the 14,000 sensor?
We are currently in negotiation with an additional and larger sensor provider, as we have talks with a well-known certification company. They would like to certify the sensors + their calibration reports so that the entire process, from the sensor manufacturing process up to the anchoring, has been approved. We are also working with Trivire, a large housing corporation, to use V-ID for several documents and audit, and also using rooftop locations for IoE sensors.
2) According to the roadmap, the hardware project should be announced in Q3 but at the same time it also says it will be revealed in a grand manner at the Hannover Messe when it opens again (I believe it’s in April 2021). Is it possible to be more specific about if we are on track to hear about this project in Q3?
Initially it was supposed to be announced on the Hannover Messe ’20, but then Covid-19 stopped that plan. Q3 is still our goal, but of course it is not just our call, the hardware player and their biggest customer decide where and when.
3) Does the integration of DataLink mean that the API of VIDT can be seamlessly implemented, or does it still require some implementation done by V-ID? Can we expect V-ID to introduce their own platform on API hubs such as Microsoft’s Azure marketplace, SAP API business hub, SalesForce AppExchange etc? Are there any dates set? Can you elaborate more on the role and involvement of SAP?
The API can be seamlessly implemented as it is written in a most common format. We are always working on better documentation and creating sample code to jumpstart new users. In most cases, integration of the API no longer requires customisation by V-ID. Together with CMS we are also working on a GDPR compliant certificate for the VIDT DataLink product. Yes we are working on exposure on hubs like Azure etc. IBM Cloud was step 1, more will follow. As for the SAP question.. No comment.
4) Wen B2C? Can we have an update on the usage of the Fund? I remember B2C being one of the things Fund would be used for, maybe the team’s goals have changed since then.
We have been working on the B2C prototype with several parties. Keeping it stupid simple is key for this product, but the legal aspect is quite challenging. The most likely scenario is that one or more parties will launch a B2C concept under their own brand (white label). V-ID will then only facilitate support and the API. Q3 seems feasible. The fund is largely still available and is used for marketing, liquidity and listing campaigns.
5) The question you probably dread to hear: exchanges. As we see a continued rise of popularity with DEX’s I wanted to understand your stance on exchanges such as UniSwap and Kyber. Both of these allow teams to provide liquidity while also opening up new opportunities for investors such as more pairings and most importantly, more liquidity. Do you have plans to look into/access other exchanges (be it DEX/CEX) in the near future? I know we’re all really looking forward to seeing ETH and USDT pairings.
We agree with that. It is very nice that we can meet this demand with the Uniswap availability and Kyber listing. Full integration in the Uniswap interface is currently pending but VIDT is readily available.
As for, Kyber, yes VIDT is now listed on Kyber (Kyber had not been mentioned publicly by us at the time of submission of this Q)
6) Several suggestions around future use cases, do you have any comments about whether these would be possible or probable, and whether there are other areas you are exploring?
- The medical industry is rapidly digitalizing, and gathering more and more data every year. Do you see V-ID playing a role securing this data, especially prescriptions which are frequently targets for fraud?
Yes, we are already working on a use case together with Fantom..
- Is there any Dutch Govt project that the team are working on?
There are a few opportunities here, but government projects are very time intensive. It might take a long time before we can share anything on that.
- Is there any plan to target the insurance sector?
- Is it possible to verify products for example in the chemistry industry? I work in a factory and a client wants to brand on every barrel the batch number and code, to prove it is definitely produced by us here in Germany and not for example in China. So could VIDT also be a possibility to verify every barrel?
Please contact Joshua so we can set this in motion!
- Any leads in the food and beverage industry? Can I sip a verified IPA at some point in the future?
There is a very warm contact in the beverage industry and that is all we can say about that at the moment.
- Are there any plans to secure/verify official government issued documents (passports/ driving licenses / VoG/ birth certificates etc?)
7) Do you have a solution going forward if ETH continues to become less reliable and continues to experience extreme clogging due to the expansion of DeFi etc. and if so, can you share it with us?
Yes, and not yet ;)
8) Are you improving batching to avoid high gas prices? Clearly gas prices are becoming a regular issue. How will B2C work regarding batching?
We are starting batching in the backend this month to be as efficient as possible. Since May ’19 batching is available for API users and in the UI. The new, second layer of batching will enable us to make best use of the available network throughput. Currently, the second layer of batching is enabled for a limited set of publishers.
High gas prices are not a bottleneck per se, fast rising gas fees are. Also, gas prices become high because of the growing number of requests / transactions and this in turn clogs the network / syncing processes.
The B2C use case will still require a single transaction per certification as the only way to guarantee the ownership in a decentralized way.
9) What were the main reasons for choosing the chains to validate on? Do you consider adding other chains with potentially different trade-offs in the future? Any plans to anchor to FTM or additional chains and dags?
The main drivers are reliability, number of nodes, future-proofing, but also exposure and expanding our business network. New anchor party == new projects.
10) Could we get a rough idea of the pipeline of large clients likely coming on this year? Plus how many in talks? Could you give us some projections for validation growth over the next 1,2,3 years? Base, conservative, optimistic?
This year we are working with a number of big players but although it all looks promising there are no guarantees they will turn into paying customers. In the coming weeks there will be promising news regarding our sales force in the UK!
11) What are you guys doing to build your economic moat? The tailored APIs and bespoke customer experience are a great start, and I’m wondering what else is planned that will separate V-ID from the inevitable competition. How do you plan to market this to the wider communities as VIDT continues on with a goal of gaining additional exposure? Are you guys planning to increase sales or marketing staff?
The goal of VIDT DataLink is of course to enable experts in their own field to develop their own products and services based around data integrity. We are onboarding new staff so they can help companies use VIDT DataLink to build data integrity into their own business process.
1) Does Joshua’s charm works on clients too??
Joshua’s charm works best in a mixed setting of c-levels and dev peeps
2) Will there be any merch coming soon?
3) Can you say one more time that V-ID is profitable now? This was confirmed earlier but like another official confirmation for extra comfort!
V-ID has been profitable since the end of 2019.
Words of appreciation
Much of VIDTs success is the result of our wonderful and positive community. Thanks all! We couldn’t have done it without you!
For all newcomers, check out their Telegram Channel at https://t.me/VIDTokenCommunity
Till next time!
VIDT Introduction: https://about.v-id.org/welcome
VIDT Dashboard: https://about.v-id.org/dashboard