Veritoken is a company focused on returning power to the individual when it comes to control of their personal data. An intrinsically GDPR-compliant solution, Veritoken enables users to retain control and ownership of their data.
Business Value Proposition
• Global data privacy standards are coming, either by way of self-regulation or state mandate.
• Centralized storage systems are the current state-of-the-art, and will on a long enough time horizon lead to ruin for all parties involved.
• Blockchain in general and Veritoken’s implementation of non-fungible tokens in particular, provides a unique and powerful way to return data ownership to the individual.
• We believe there’s a case and a method for data protection and ownership as a fundamental right of individuals and organizations.
• Censorship resistance is a fundamental function of individual data ownership.
• Veritoken’s specific implementation of non-fungible tokens promises to bring balance to information and communications marketplaces where imbalances of power presently exist
Team members (2)
Business Development and Standards Development
Veritoken will introduce an ERC20 Token, which will be used as the form of payment between blockchain participants (e.g. candidates and recruiters). Our first phase of development will be working with our partners in the data provision side of the marketplace to better understand the economics around the service of providing data.
Semi-Federated Model, HR, Talent and Recruiting-focused
Develop a reference implementation for the HR, Talent and Recruiting industry. This proof-of-concept will require the development of blockchain-based underpinnings, as well as a traditional LAMP or MEAN stack style infrastructure for a website.
Maturation of the Technology
By Phase 3, we expect the blockchain ecosystem to have matured to the point where we can make the determination as to whether Veritoken will live on as an Ethereum-based blockchain or migrate to its own blockchain. Ultimately, it is the goal of Veritoken to operate on a single-tenant blockchain that is Proof-of-Stake and Turing Complete.