It’s been a while since we gave an update on our progress because we have been heads-down working on development of the tech, building partnerships, and fundraising. All of that hard work has been paying off though, and we are excited to share how it is going publicly!

As we have progressed, many use cases for our technology have emerged, but we have remained focused on the core idea behind Veriglif: fundamentally we are supply chain management and transactional processing network for personal data with four key benefits:

1. Validate Identity – Confidence that this is a real person to make better decisions.
2. Link Individual Data Assets – More data available for targeting, profiling and appending to existing data sources.
3. Inventory Individual Data Assets – Easily understand what is available for purchase.
4. Power Network Transactions – Everyone can transact with confidence and get paid for their contribution.

From a development standpoint that has led us to break the race towards our market-ready product into 2 phases:

Phase 1: Validate and Link

Phase 2: Inventory and Transact

This has allowed us to focus on getting the technology right and architecting the platform infrastructure to ensure it can handle massive and rapid scaling out of the gate. We’ve made massive strides.

Update 1: Release of the Phase 1 MVP

And that leads to our first major update: we are currently piloting a manual version of the Validation/Linkage components of the platform with our partners! These companies are all signed up to test the system using their data assets:

• 1Q
• Branded Research, Inc.
• CIMIGO
• Datawallet
• GreenBook
• Hubux
• i360
• inBrain
• L&E Research
• OvationMR
• Potentiate Pty Ltd
• Powr of You
• Shaqra Ventures LLC
• SouthSpec Inc
• Surveys & Forecasts, LLC
• The Black Puma
• Unify Research

Here are some screenshots of the Validation/Linkage interfaces in action:

Figure 1: Veriglif Manual Data Loader Application

Figure 2: Veriglif Supplier Administration Dashboard

Figure 3: Veriglif Identity Graph Detail Fields

Figure 4: Veriglif Identity Graph

Figures 1 – 4 are focused on showing the mass ingestion of data and then the validation of individual level data to create the individual identity graph. This is the data record created on the Hyperledger platform which unlocks all of the power of transparency, traceability, and permissioning at the individual level.

Figure 5 shows what the full data graph is like when all of the data points are linked to create a comprehensive inventory of all available individual data assets.

Figure 5: Full Veriglif Data Graph

The APIs are built and ready for integration, but for simplicity during the pilot phase we are using a manual upload utility linked to the cloud infrastructure. As we move into rolling out the Inventory and Transactional system and full API functionality later this year, we will be working with all partners on that integration.

We anticipate wrapping the Phase 1 pilot in the next month as we stress test the platform and then moving into development of Phase 2 for the remainder of the year. That should be a fairly straightforward process since part of our tech stack is utilizing existing partner technology.

All in all, at this point we should have the fully functioning MVP platform in commercial operation in early Q1 2020!

While we are working with partners on beta testing the platform, we are also exploring several pilots with global brands, which is very exciting indeed! The enthusiasm we are finding from all key stakeholders in the data ecosystem has been humbling and exciting, and we are deeply appreciative of the engagement.

Update 2: Funding Update

And that brings us to our second exciting update. We’re excited to announce that we have raised $623,842 from nearly 100 investors since our founding last year, including $223,842

Via crowdfunding on WeFunder, blowing way past our initial $60,000 goal!

For several weeks during this raise, Veriglif has been the #1 performing crowd sourcing investment in the U.S., with individual investors associated with IBM, Google and Cisco placing money with Veriglif.

We’ll be closing the WeFunder crowdfunding campaign in October, but there is still time to join in; if you would like to get involved here is a link - https://wefunder.com/veriglif

Update 3: Defining our Value Proposition

And finally, on our update list is work we’ve done to define why partners should engage with us. Although we have always been clear on what Veriglif does, we haven’t always been as clear on the value to network partners. The development of the model has been driven by why partners should engage because of the value we can deliver, but defining what that value is has been hard to nail down in a concise list. We think we cracked the code though, as we embark on the new phase of building the network.

Through all of our research, ideation, networking, and testing we believe that the core value proposition of what we offer network partners boils down to:

• Volume: By default, Veriglif functions as a marketplace wherein every partner in the network sells to every other via an expanded supply chain. The channels for partners to access more data to sell, and to sell more data to more partners, is the core of our model. Greater volume is also achieved by a single “view” to an individual datagraph programmatically across all sources in real-time, making data ingestion much simpler.
• Compliance: We built Veriglif with GDPR, CCPA and other relevant laws in mind, as well as extrapolating where the future may go. Veriglif provides a comprehensive compliance mechanism for the entire personal data ecosystem: data producers, data collectors, and data buyers. Partners can purchase and prove they are entitled to use the data for a specific purpose and time period.
• Quality: By focusing on validating identity and linking individual data assets, the possibility of bots and fakers being in the data supply chain is reduced to almost nil. Veriglif partners will be participating in the highest quality (and largest) personal data asset in the world.
• Diversification: Fundamentally we see the personal data economy being driven by three business uses cases: research, marketing, and analytics. Veriglif partners can choose to participate in any or all of those, creating new revenue streams.
• Differentiation: The data within the network can power a variety of use cases and applications. We intend to power them, but not to develop them. Our network partners can develop a whole new ecosystem of business-specific tools and offerings creating new revenue streams and a highly differentiated offering powered by the Veriglif network.
• Engagement: As the concept of data sovereignty and data privacy transforms consumer awareness of the value and utility of their data, data collection companies that lead with empowering consumers in realizing the value of their data will develop deeper and more engaging relationships with consumers.
• Speed and Control: Data suppliers have programmatic controls to govern how customers purchase data. Each purchase may be automatically fulfilled through an API into their platform without any intervention.
• Utilization Efficiency: Consumers will have greater incentives for less time – their data may be sold time and time again without completing surveys for each transaction.

The promise to our network partners is that we only win if they win. We don’t own direct relationships with the two critical stakeholders in the data ecosystem: data producers (consumers) and data buyers (brands/agencies). Since no PII is EVER stored on the Veriglif network (only hashed identifiers needed for validation), our partners can rest assured that their most valuable asset (consumer relationships) will always be in their complete control.

We see our role as empowering our network partners to serve both constituencies better through our white-labelled SaaS solution. We are focused on enabling a better value chain through our partners, not disrupting them. We are an infrastructure partner, and our growth is dependent on meeting their needs. Not only is our business model based on these principles, but they are baked into our foundational philosophy.

Make no mistake, we will do what we need to in order to ensure our partners are always dealt with in a way that puts their best interests first.

As you can see, we’ve been quiet for a bit because we have been hard at work on actually building the technology, our relationships, and our value proposition while securing a broad-based funding platform to support our vision. And, we have some other cool announcements coming, but we’ll save them for another time!

Our plan is to be far more communicative going forward with a mix of blog posts, updates, webinars and online chats all being scheduled in September so stay tuned for more in the weeks ahead! We'll be posting specifics for all our investors and followers to join us very soon!