Data considered a currency in the digital age and it can be used to pay for free services such as Facebook or Google, for example.
The Zurich-based blockchain platform VALID wants to help internet users decide themselves how their data is used, such as by making it possible for them to sell their personal data or information about their identity to interest companies. It plans to launch an app called VALID Wallet, which will serve as an interface between personal data and the marketplace.
VALID has now been able to win over investors with its business idea, raising the equivalent of $10.7 million in digital currencies, such as ether, bitcoin and fiat, in an initial coin offering (ICO). Investors will receive their tokens in the coming weeks, and VALID is also planning to launch its tokens on the crypto-exchange run by the Zug-based company Lykke.
VALID belongs to the Zurich-based e-government startup Procivis, which developed the digital identity technology eID+. It is currently being tested in the canton of Schaffhausen in a pilot project.
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