What is VIDT Datalink?

VIDT Datalink ("VIDT") is currently listed at £0.4467 with a total market cap of £22,257,058 (the result of a circulating supply of 49,428,303 which is 84% of the maximum supply). VIDT Datalink look to capitalise on the ever growing digitalisation of the world with increasing data being found in a digital format by providing a document certification service that detects any unlawful manipulation of any digital file. It could be called a sister coin to LTO Network ("LTO") which we covered in our last post as in December 2020, the companies behind LTO Network and VIDT Datalink merged to become a front-to-back business to business ("B2B") blockchain solution. The developers pride themselves in their claim that any file's fingerprint can be validated in under five seconds to prove authenticity.

What has it achieved so far?

VIDT Datalink provides one core service. This is the VIDT Validation Service. It prevents manipulation of data by an initial validation of a file to create verifiability. Subsequently, the validation process involves extracting the fingerprints of files and saving them in the blockchain. Any change to the file of even one byte or pixel will result in the fingerprint changing and will be detected by V-ID.

The verification of files can be completed automatically using the VIDT API or by using their simple drag and drop terminal. It is able to anchor data from any publisher platform and cloud service to multiple blockchains which makes it compatible to almost all platforms. 

What is the VIDT token required for?

The VIDT token has a total supply of 58.5m tokens, of which a measured amount will never be in circulation and kept in a reserve pool. There is an inbuilt loop which operates by the following:

• Clients buy bundles of VIDT stemming from the reserve pool;
• When a transaction occurs to assess validation, the tokens spent for validation are transferred to VIDT Datalink's main validation wallet; then
• 80% of the expended VIDT will be transferred from the validation wallet to the main wallet.

The greater value add for token holders occurs monthly. The two actions that occur are:

• 20% of total expended tokens used in validations are burned; and
• VIDT Datalink buy back 10% of the tokens used. These are done randomly and occur on a number of exchanges. These tokens are also burned.

Who has VIDT Datalink worked with?

VIDT Datalink have worked with a substantial number of global organisations, these include:

• AmSpec - VIDT Datalink and the DigiByte Blockchain will be used to prove authenticity of AmSpec's inspection reports for major petroleum refiners and traders. AmSpec produces more than 50,000 inspection reports monthly;
• CMS Law - VIDT Datalink and LTO entered into a partnership by rolling out an immediately applicable, GDPR-compliant blockchain solution;
• Douwes Fine Art - VIDT Datalink was used to certify a 17th century artwork by Rembrandt to enable future authenticity;
• Caltrix - VIDT Datalink offers a verification service for KYC checks that is faster and cheaper than previous systems whilst also being GDPR-compliant; and
• Nyenrode University - VIDT Datalink offers a verification service for digital diplomas as a more effective upgrade to current systems such as password protections.

Note that in December 2020, the companies behind LTO Network and VIDT Datalink merged. VIDT Datalink has also worked with a number of other tangible products such as with Deltamas for verification of diamond certificates and Amsterdam Vintage Watches for verification of a Rolex watch.

Where can you buy VIDT?

VIDT Datalink is available on the current biggest cryptocurrency market, Binance. It can be purchased using either Binance USD ("BUSD") or Bitcoin ("BTC"). It is also available on decentralised exchanges such as UniSwap where it can be purchased with Wrapped Ethereum ("WETH").

What will VIDT Datalink be verifying in the future?

There are a number of projects or events that have been softly mentioned by the combined LTO Network and VIDT Datalink team for 2021. Some notable mentions include:

• The acquisition of the company behind VIDT by LTO Network has meant that all projects incorporating LTO Network will also involve the incorporation of VIDT Datalink;
• A fishing trawler related project at the end of January which will be there first large project post-merger (https://twitter.com/LTOxVIDT/status/1348667849817133057); and
• The CEO of the combined company has noted that there are a number of other projects in the pipeline.

It should be noted that the combined social media outlets tend to post stuff more from the LTO point of view but the expectation that VIDT will work on those projects too are very promising.

Conclusions

The winners of the Enterprise Solution Award in the 2020 Dutch Blockchain Awards clearly have a firm grasp on the market and have shown a clear ability to win large clients. The merger shows clear expansion opportunities for both coins together as it allows a more comprehensive package to be offered to potential clients. However, some could say that in a M&A acquisition, there is usually more risk in investing in the acquiree rather than the acquiror. It is something that people should consider when making an investment decision but on the face of it, this looks like a strong cryptocurrency for people to invest into.

Whitepaper: https://www.allcryptowhitepapers.com/v-id-whitepaper/