Now there is a lot of talk about digitalization, about how it can improve business efficiency, open up new opportunities for all industries, as well as reduce operating costs and increase efficiency. Thanks to such benefits, many companies strive to digitalize their processes. However, every coin has a flip side. Unfortunately, digitalization inevitably confronts companies with data fraud. The level of cybercrime, data manipulation, and identity theft is growing rapidly. It was to solve this acute problem that the VIDT Datalink project was launched.
What Is VIDT Datalink?
VIDT Datalink is a project that helps businesses of any scale to secure the movement of files, data, certificates, and so on and eliminate the possibility of data manipulation. In addition, the platform provides the ability to create verified NFTs. Luxury brands such as Rolex, Amsterdam Vintage Watches, and others have taken advantage of the opportunity to digitize and verify some physical items in the form of NFTs. Using the example of Amsterdam Vintage Watches, the project team explained how the process of digitalization and verification of physical objects takes place:
- Amsterdam Vintage Watch experts have checked and confirmed the authenticity of the watch. Next, AVW employees issued a certificate of authenticity for this watch.
- The digital fingerprint of the certificate has been implemented in the new NFT. Therefore, the watch owner can store the NFT in his/her wallet, confirming the legitimate ownership.
- As soon as the watch is transferred into the possession of another collector, the NFT passes along with them.
As already mentioned, in addition to NFTs, the VIDT Datalink ecosystem also provides a solution capable of ensuring data integrity and authenticity. For example, a company digitizes a document and sends this file to its partner. However, before the file gets to the partner, it has to go through a complex and long route. The file travels through computers, modems, Internet nodes, corporate networks, and so on and then ends up in an environment that may not be safe. Such a complex and long route creates many opportunities for data manipulation. Unfortunately, at this stage of development, we cannot shorten this route yet, but it is quite possible to protect ourselves by deeply checking the file’s contents. It is in this matter that the VIDT Datalink project can help. The protocol validates and verifies files, eliminating errors and fraud risk.
How Does VIDT Datalink Work?
The VIDT Datalink ecosystem includes several integrators: Procentec, Internet of Environments, Navarik, Midas Metaverse Collection, KuCoin, and NFT Claim. Separately, it is worth highlighting the V-ID service. This service is the first and main integrator of VIDT Datalink and provides a solution for data verification and NFT creation.
V-ID technology is built on two parties: the publisher and the recipient. While the publisher validates the file, the recipient verifies. To exclude any possibilities for data fraud, it is necessary first to validate the target file. V-ID has a reliable validation method. Firstly, the target file is subjected to fingerprinting and storing on the blockchain in encoded form. Thanks to this, if the file encounters malicious actors on its route and changes at least by a byte, a character, or something else, the system will immediately detect it. The platform provides several validation methods:
- Validation service. The publisher sends the file through a secure connection for download. Next, the employees of the V-ID validate the file on the publisher’s side. At the publisher’s request, the protocol also provides the services of a trained notary to monitor the process.
- Self-validation. In this case, the publisher nominates a candidate who will perform the duties of file validation. The candidate is appointed as a Validator and passes a V-ID identity check by an agent and a notary. After identification, the Validator will have access to a Validation Terminal with which you can easily validate files.
- Bridge validation. In this case, a specialized API extracts the file’s fingerprint from the code that the company’s software uses to create this file. This process is fully automated and invisible to the standard workflow of the company.
File verification takes place in a matter of minutes. To do this, recipients just visit the VerifyAllDocuments.com (V-ID) website and check the file using the Verification Terminal.
The VIDT token is the fuel of the entire VIDT Datalink ecosystem. The token has a maximum supply of 58.5 million, of which 49.4 million are in circulation. The token lives in two chains, the Ethereum, an ERC20 token, and the Binance Smart Chain, a BEP20 token. The token is used as a payment tool within the VIDT Datalink ecosystem. In addition, when validating data or creating NFTs, a VIDT transaction is initiated that records all the necessary details.
VIDT Datalink is a promising project that allows blockchain technology in real-world use cases. With the help of the project ecosystem, companies can easily ensure the security and integrity of data and create NFTs to confirm the legal ownership and authenticity of physical items. To date, the project cooperates with well-known international companies and continues to expand its ecosystem.