ViValid is a service based on blockchain

technology designed to serve as a conduit between individuals seeking information about the potential value of items in hand from experts in corresponding fields along with certified proof of ownership.

Project Update

ICO and token distribution

Over the past several months our team has been tirelessly working on the core engine of our blockchain-based Proof of Validation Protocol in preparations for the release of the ~MVP. We have decided to focus our attention entirely on the technical and functional aspect of the project and suspend preparations for Initial Coin Offering. The intention was to release a stable, fully functional platform to the market, measure reception and model marketing around real data before the actual ICO campaign. Separately, we ran a small, short-lived pre-sale round to probe the financial potential of the market.

In the meantime, two things had happened. Our R&D and QA teams have proven that we couldn't build a reliable and predictable internal economy on the platform by utilising existing solution, i.e. Ethereum Project, due to its performance and cost-effectiveness, or rather the lack thereof. Secondly, we have recognised that a relatively steep entry point to the cryptocurrency-based economy, coupled with arising scepticism of the market can work as a deterrent for our potential clients.

In light of our findings, we have decided to restructure both the technical and financial aspects of the project. We have determined that in order to control and maintain the stability of the service, we have to build it around proprietary, private blockchain. Also, using utility tokens as a way to compensate validators is no longer feasible, and we are going to use traditional, fiat-based solutions instead. Therefore the ICO for this project has been officially cancelled. We have no longer intention of releasing and trading ViV tokens, neither on external exchanges nor internally within the platform. Current owners of ViV tokens who have acquired them during test pre-sale phase can use our smart contract to claim invested ETH back.

Future of the Project

Our unique IP, not the ICO lies in the very core of this project. We firmly believe that there's a place on the market for our solution. The vision we have hasn't changed, only the way we choose to actualise it had. To this point in time, we have financed the project out of our own pockets, and it won't change much, but we did draw the attention of a few potential investors who can help us in this journey. We need to get back to drawing boards and passionate discussions to redesign POV and business model which will require more time and patience. We are on it though, stay tuned.

Market Size

Hobbies
200 billion USD

Every year, collectors spend 200 billion USD on their hobbies (excluding art, jewellery, and classic cars) worldwide.

Art
1 trillion USD

Collectables like art, jewelery, and other valuables estimated, to total 1 trillion USD in annual sales worldwide.

Memorabilia
1 billion USD

One of the biggest collectibles markets in the U.S. is sports memorabilia, with 1 billion USD in sales per year.

Music
1 billion USD

Another 1 billion USD collectibles market is vinyl records, 40 million units of which are expected to be sold in 2018


Use Cases

Proof of Validation Protocol

has been designed to serve two primary purposes.

Firstly, it provides means to distribute validation and valuation jobs within the decentralized blockchain-based network and ensures token flow between users of the system.

Secondly, the intrinsic algorithm governs neutrality and accuracy of validators' responses, paving the fundament of trust on which any system of similar kind must be built upon. Combination of statistical data and incentivizing model of different tiers of validation lies in the heart of the system. On one side, the system automatically analyses the expert's valuations looking for discrepancies, and on the other, it rewards validators with the highest success rates by providing the chance to upgrade an account to the higher tier.


VIVALID OÜ
Harju maakond, Tallinn, Mustamäe linnaosa,
Teaduspargi tn 8, 12618, Estonia

VIVALID PTY LTD
166 - 168 Grange Road
Flinders Park SA 502, Australia

E-mail: contact@vivalid.io

ViValid obtained a license to operate in the field of virtual currency from Estonian Register of Economic Activities Department. ViValid was reviewed by government regulatory body policies to comply with AML/CTF (The Anti-Money Laundering and Counter-Terrorism Financing Act) duties and obligations. As a result, ViValid's activities are transparent and in accordance with the European legislation. License number FVR000175 issued by MTR Estonia.