We’re incredibly excited to share that we’ll be collaborating with V-ID on a joint project, involving different use cases like securing certificates, and medical records, which will be introduced gradually as we move forward.
V-ID is a blockchain-powered document certification and verification service. By using V-ID tech, organizations can certify and secure their digital data against fraud and manipulation. V-ID is a fast-growing company with over 30 customers like Airbus Defence & Space, AmSpec and Krohne and strategic collaborations with IBM, CMS Law and Nyenrode University. They are serving use cases that involve protecting files like certificates, invoices, diplomas and sensor data against unwanted manipulation in addition to protecting the integrity and the value of these assets.
To borrow a quote from Steve Jobs, ‘’Focus is about saying no’’. Which means that young organizations sometimes have to abandon 1000 great ideas to pursue one big goal. For Fantom, that goal is to provide a consensus algorithm that can power fast and secure distributed ledgers, and for V-ID that goal is to authenticate as many documents as possible. It doesn’t make sense for Fantom to build its own solution to compete with V-ID, and the same goes for V-ID in creating its own DLT or consensus.
This is where governments, Fantom, and V-ID can produce value; as that makes it possible to leverage each other's expertise to hash important documents through a simple application, on top of a network which is fast, secure, and cheap to use.
To specify the scope of work of this collaboration, and to elaborate on what we want to achieve, our Chief Marketing Officer, Michael Chen, commented the following:
Rather than announcing a joint-venture that may or may not lead anywhere, Fantom and V-ID have spend hours in speccing out the scope of work to find out where collaborating makes sense for both organizations. That has allowed us to comfortably commit to include V-ID in helping governments in the Middle-East tackle problems and inefficiencies in the region, starting with Afghanistan.
V-ID and Fantom will push for a symbiotic relationship that will lead to the following:
- V-ID will validate and verify the documents on top of either Xar Network or Opera Mainnet, to push network engagement forward.
- The governments we are in touch with will commit to using V-ID’s application to authenticate documents.
- Both organizations will help one another expand their networks where possible.
- V-ID’s token (VIDT) will be suggested as one of the collaterals for CSDT to be introduced through onchain governance proposals on Xar Network.
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Fantom & V-ID join forces and start working on multiple Government projects early 2020. was originally published in Fantom Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
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