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Pi Network is gaining traction – is it worth mining?



How to mine Pi Network coin

Pi Network

Last updated: 04-August-2020

This is a live page with regular updates to Pi Network Project. Bookmark this page to stay up to date with the Pi Network progress.

What to expect in this article?

  • What is Pi Network?
  • Who can participate and whether it is worth it to participate in the Pi Network?
  • Step by step process to mine on the Pi Network

Slowly but surely Pi Network is slowly gaining traction. At the time of this writing, it has over 15000 followers on Twitter, 60,000 likes on Facebook, 72,000 followers on Instagram. That is not bad for a ‘word of mouth’ publicity.

Not only that, the Pi Network IOUs are trading for around 40 cents. If this project continues to gain traction and it can garner over 40 cents when it starts trading – that is quite something for a project that is essentially free to join/mine. Again, that is a big IF.

The project has been running low key overall, however, they do keep going from planned phases. They recently launched phase 2.
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What’s in each phase?

Phase 1: Design, Distribution, Trust Graph Bootstrap

Phase 2: Testnet, the Node software is installed over the testnet to run before the mainnet launch

Phase 3: Mainnet

Please read the whitepaper for details on each of these phases.

What is Pi Network?

Pi Network was created from the simple belief that the existing blockchain and cryptocurrency networks are out of reach for the common public. For instance, you can no longer mine Bitcoin using your home computer. You need very expensive equipment to stand a chance. These equipment are out of reach of most people and that tends to keep people out of the cryptocurrency ecosystem – and act as key impediment to mass adoption.

Pi can be mined on mobile phone and does not need the app to be switched on to mine. This drastically changes the way mining works and potentially encourages people who are kept outside the crypto ecosystem because of costs and complexity. Pi is both free (almost) and easy to participate in the ecosystem.

What makes Pi Network different?

“Pi’s consensus algorithm builds atop SCP.  SCP has been formally proven [Mazieres 2015] and is currently implemented within the Stellar Network. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers.”

Who can participate in Pi Network?

Anyone with an Android or Apple smartphone and internet access can participate in the Pi Network. 

According to the whitepaper: “There are four roles Pi users can play, as Pi miners. Namely:

  • Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer)
  • Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
  • Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.
  • Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.

A user can play more than one of the above roles.”
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Pi network team consists of professionals from Stanford university and they are welcoming interested enthusiasts from all over the world to join the team. Interested professionals can be the part of their team by filling the form here for consideration.

To FOMO into Pi Network?

We would not recommend FOMO entering into any project. In the case of Pi Network, since it does not literally cost anything to join – we have registered ourselves and have started activating mining sporadically.  

You do not have to keep the app on to mine, as such, it is relatively a zero cost venture for the participants.  

For that reason (and indirect FOMO on our end) – we are OK to install and run the Pi Network app.

If you are thinking about joining – then feel free to use this link (it will increase our mining capabilities):

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Step-by-step process of setting up Pi Network Mining

Here is the picture by picture breakdown on how to successfully install and mine Pi on your mobile.

Download and install the app Pi Network on your mobile: Android  | IOS

The fact that it is listed on both Android and Apple stores (under their due diligence) – we are a bit more open to installing the program.

Sign up with Facebook or Mobile number

Either you can choose to sign up with facebook account or mobile number. Remember to provide valid information as you need to either login or be able to access these accounts or numbers in order to get hold of your minded tokens when the mainnet is launched.

We are signing up with our mobile number.

Set up a unique password and submit
Complete the fields with your name and unique username, then click submit.

Consider using the invitation code, rkreddy (it will increase our mining capabilities) and click submit.

You will earn your 1st Pi Network token for joining and land on this page. Click get started
Tap on the flash sign to start earning

That’s it, you have now successfully installed Pi Network on your mobile and are now mining the Pi tokens, at 0.25 Pi Token per hour.  As you invite more people – your rate per hour will increase. Also, make sure to turn notifications since you will have to tap this ‘flash’ button every 24 hours to continue to mine – you do not need to keep the app open though.

Quick snapshot of token metrics

Any math geniuses can explain this to us…

Token Emission Policy

Total Max Supply = M + R + D

M = total mining rewards

R = total referral rewards

D = total developer rewards

M = ∫ f(P) dx where f is a logarithmically declining function

P = Population number (e.g., 1st person to join, 2nd person to join, etc.)

R = r * M

r = referral rate (50% total or 25% for both referrer and referee)

D = t * (M + R)t = developer reward rate (25%)

Pi Network Crypto Review Withdrawal Monitor Invitation Scam

To join Pi, follow this link and use my username (SeanLogan) as your invitation code. Pi Network Crypto Review Withdrawal Monito…

Video Source: Sean Logan

Happy mining.

Updated: Apr 24, 2020

Should I mine Pi Network coin? Critical factors to consider

In this article, we want to look at some factors on Pi Network to help you decide whether or not you should mine Pi Network coin.

If you are interested in Pi Network, pay particular attention to the utility section below.

Underlying philosophy

Bitcoin’s model is built in such a way that early adopters got hands on a big chunk of bitcoins and those who join later are rewarded less and less to the point that individuals without specialized equipment cannot even dream to mine any bitcoin today. 

This hampers the bitcoin adoption seriously since the only way to participate in the bitcoin ecosystem is to buy it if you do not have specialized mining farms.

This creates a big barrier to entry for individuals who are dabbling with the idea of cryptocurrency.   

Pi Network wants to change this model.

Their philosophy is embedded into their system design. It includes:

  • Simple: Build an intuitive and transparent model
  • Fair distribution: Give a critical mass of the world’s population access to Pi
  • Scarcity: Create a sense of scarcity to sustain Pi’s price over time
  • Meritocratic earning: Reward contributions to build and sustain the network

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Mobile First approach

Mining Crypto with SmartphoneTo accommodate mass adoption, Pi Network went with Mobile first approach.  In doing so, they made sure that the users data or battery is not drained by Pi Network app.  

This eases the resistance users have about installing a cryptocurrency mining app. 

The average Pi Network coins you receive will depend on how many people you have referred using your code.  

This ‘referral’ model is a time tested one and has contributed to Pi Network growing over 100,000 miners around the world.

Looking at these numbers and how little their advertising has been, it looks like they might actually realize their mission and vision.

Our Mission: Build a cryptocurrency and smart contracts platform secured and operated by everyday people.

Our Vision: Build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency.

Balancing scarcity and access to the network

Pi creates a fixed supply of Pi coins for the first 100 million participants that join the network. These pre-minted coins are then released to these participants over their lifetime on a decreasing function similar to Bitcoin.  

Referrals and Developers also will get rewarded. Developers will be rewarded based on the contributions they make to the network.

While the initial miners will get more rewards than those that join later, everyone will have the ability to take part in the Pi network.

Ingenious utility from shared trust, social media, marketplace, DApps 

No matter how great the design of a cryptocurrency is, if there is no utility – it will eventually die out.  

Pi Network’s utility goals include creating a platform where users can share their collective views which would then be rewarded through Pi Network. Companies like Amazon, Yelp, etc., rely heavily on user data/reviews but users generally do not get anything back. Building a global shared trust space among Pi Network “will facilitate transactions between strangers that would not have otherwise been possible.”

Shared social media space will facilitate Pi Network users to wager their tokens to garner attention of the network.  

White paper explains “You can think of the scarce social media channel as Instagram with one global post at a time.”

How much would you pay if you knew that you were going to get the attention of over 100s of thousands of active smartphone users and with over one million App downloads? (as of this writing)  Pi Network already has over 100,000 pioneers who applied to act as nodes/supernodes on the Testnet. What if you have an ad that gets displayed before users can hit the ‘mine’ button? 

Pi network App

Pi Network Node

(Source: Pi Network)

This could bring massive utility to the token. Advertisers will not care if a Pi coin costs 10 cents or 10 million if they are going to get the attention of over 100 million smartphone users in the future.  

Pi Network can also, in theory, design the network such that – advertisers only pay for the ads that are viewed.

It is ingenious that Pi App users are already accustomed to going into the app to ‘tap’ on the mining button. In the future, when ads come to the platform – advertisers are going to place their product in front of millions of smartphone users. This is better than Instagram since you are getting one ad a day. We could anticipate bidding type competition for the ad space.

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Storefront & payment built in with undivided attention – great utility

The roadmap includes opening a storefront on the app where people can list their products and buy & sell using Pi coin.  If you can grab attention of a million users who could trade using Pi Coin, the sales could soar and make it much more attractive to the businesses to advertise on the network. This will in turn increase the utility of the Pi Network in general.

Don’t forget the DApps: in the end Pi Network should also get utility and demand from the DApps that are built on the network.

The more we read into the simple yet genius plan behind Pi Network the more we are convinced that it is totally worth it to join the network (of course, this assumes zero data breaches, hacks, etc.,).  

This Stanford trio may have laid the foundation for the most global and inclusive cryptocurrency yet and if everything goes according to the plan – it could disrupt a lot of intermediaries and turn a lot of heads in the process!


Update: May 1, 2020

Pi Network to launch In-App ads and nodes

What to expect?

Quick overview of in-app ads on Pi Network

Quick overview on becoming a node on Pi Network

We have been following the updates on Pi Network closely. It looks like they are moving along with their road map. They are also looking to democratize the decisions based on feedback from the community.

For instance, after reviewing over 10,000 comments and 130,000 responses submitted through surveys about in-app ads, Pi Network has now decided to launch in-app ads.  

According to the in-app announcement, roll out will take place after in-app ads will be tested with a brief skippable video and a small banner on the screen to see which one works well from a user experience point of view.

Announcement read: “based on your 130,000 responses about ads placements, we decide to initially test the top two voted ads placements: 1) A brief video ad that you can skip after a few seconds during time wasted waiting for the app to load, but not every time you open the app (28.2% of the responses selected this option as the best ads), and 2) A small banner ad at the bottom of the screen in place of the “Send 1 Pi” button (47.0% of the responses selected as the best ads). The other two placement options got respectively 12.7% and 12.1% of responses selecting them as best ads.” 

Increasing Costs to cover the project

The decision to introduce in-app ads comes from the fact that Pi Network costs to run the network.  

According to the announcement: “Our network grows and scales so fast, we need to develop a sustainable funding model that can help cover the costs of maintaining the Pi Network. The current costs of the servers and the phone verification service alone run in excess of $30,000 USD a month just to maintain the account of each Pioneer in the network, not to mention the development, maintenance and operational costs.” 

The creators of Pi Network have emphasized that although ads will be introduced the format will be selected based on feedback of user experience. “Strike the optimal balance between two key variables: ad revenue and impact on user experience,“ announcement read. 

Nodes are coming to Pi Network

Pi node

To run the decentralized network, Pi will need network strength. As the apps are only used to activate the mining and other future functionalities, Pi is requesting people to act as nodes.

A node is a computer that provides computing power to run the network.  Bitcoin was built on this model and such nodes are rewarded with native coins, in Bitcoin’s case, bitcoins and in Pi Network’s case – Pi coins.

The hardware specification, earning rate and other details are not yet available.

How to be a node on Pi Network?

If you are interested in becoming a node on Pi Network, you can go to the Pi Network App and apply to become a node. The applications are currently being reviewed and you will receive the instructions once the nodes go live.
Note: we will update this space once further instructions are provided.

Disclaimer: Except for the increase in mining rate when someone joins our network, we do not get compensated or receive any other benefits for this write up.


Updated: 18-May 2020

Pi Network launches Pi Apps prototype and first pilot App

Pi Network is moving ahead with its roadmap and vision.  They are planning to release the platform on pilot basis during Q2 2020 to learn the interface, functionality and accessibility to make it better before the platform becomes open to the broader public. 

Pioneers will be able to join the apps released on the platform to provide feedback. 

First among the Apps to launch on the platform is FeverIQ by Enya.  

Alan Chiu, co-founder and CEO of Enya, and Jan Liphardt, an engineering professor at Stanford University and co-founder of Enya, introduced FeverIQ on the Pi Network app. 

Alan is the co-founder and CEO of Enya, a privacy-preserving analytics startup based in Palo Alto, California and Jan is an engineering professor and co-founder of Enya. Nicolas and Jan teach one of Stanford’s blockchain classes.

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COVID proximity and symptom tracker with a lot of security features

Enya, the company behind FeverIQ, on its website describes itself as “Enya is the leader in enabling privacy-preserving analytics everywhere, including mobile devices. With the rise of consumer concerns about privacy and the increasing cost of complying with privacy regulations, companies are looking for solutions that help them earn the trust of customers and reduce their data liability. Built on decades of research in cryptography, Enya offers the easiest way to analyze sensitive data without compromising privacy.”

FeverIQ helps people self-report their symptoms and those who got tested can provide their ‘test status’ as well.  The objective is to provide real-time analytics for people and learn about the most common symptoms of the virus to better handle it.  

None of the personally identifiable information of the users is revealed, according to the creators of the App.

The transcript from the video reveals that “FeverIQ allows you to securely share your symptoms. You can see a map that updates in real time and shows you the symptoms that other people around you have shared. If you report your test result you will help scientists better understand which symptoms are most predictive of Covid-19. The discoveries from your contribution will also help policy makers manage the pace of reopening the economy.

Because of Enya’s privacy-preserving technology, nobody knows your location or personal information – not even us. We downsample the location to 1km resolution, and never collect any identifiable information about you.”

Stanford research based easy to use COVID symptom tracking app

This prototype shows how easy it is to navigate the heat-map.  According to Alan, the app was designed based on Stanford Research information.  

The app is expected to let users check-in every day as to how they are feeling and the test results (if they had one done). 

They aim to help the places where testing infrastructure is limited through this app.

Pi Network App

Source: Screenshot from the Video within the Pi Network app

FeverIQ’s website is live with its COVID-19 Risk Calculator where users can volunteer to enter information on a ‘non-name’ basis.

“Because of Enya’s privacy-preserving technology, nobody knows your location or personal information – not even us. We down sample the location to 1 km resolution, and never collect any identifiable information about you,” founders explained.

The introduction of the FeverIQ app video states “We are excited to work with you to help stop the spread of Covid-19 and to help your neighborhood re-open safely. Together, we’ll tackle one of the most pressing health challenges of the century, while demonstrating the value of Pi’s distributed, global community.”

updated: 04-June-2020

Ads go live & Nodes selection starts on Pi Network app

Ads go live on Pi Network app

As of end of May, 2020, ads are live on the Pi Network app. The ads range from crypto related projects to non-crypto related projects (like Constant Contact). Our hope is that Pi Network team is going to launch the DApps and other utility along with formulating a plan to share the ad revenue through creating value for the token (similar to BAT).

pi network ads

If the project fails to deliver on the timeline, negative chatter may emerge that this was all a ruse to get people to join the network to make it ‘valuable’ for the creators of the app and it was never about the blockchain movement.  However, this is too premature to speculate and comment on.

We will try to reach out to the creators of this project to see if we can get them for a quick interview and/or Q&A.  Stay tuned.

Pi Node applicants go to KYC

In another update, Pi team has confirmed that they have initial list of nodes and they will start the KYC process soon.  Of the 150,000 pioneers who installed the nodes about 3000 qualified to be considered for the nodes.  The team is going to initiate KYC process through a third party vendor to further filter the nodes.  The selection will also look to pick supernodes based on the availability and stability.

updated: 06-June-2020

Pi Network KYC now live through Yoti

Those who have applied to act as Node on Pi Network have started receiving the Pi Network notifications for Know Your Customer (KYC) verificiation. Pi Network has partnered with Yoti to conduct the KYC.

Once you see the prompt to verify your identity, you have to install the Yoti app, upload your government ID and wait for them to confirm the document verification.

How to use yoti app

We have to concur with the reviews on the AppStore. We were not thrilled with the app. We kept uploading our driving license and it kept showing ‘failure’ message and insisted that we upload a different ID. We are personally not aware of other solutions that do a better job or the criteria behind selecting Yoti in spite of the ratings on the AppStore.

All is not bad though. To their credit, the app did provide help option under the More (with three dots) section.  They promise to reply within 3 hours. We got the driving license accepted on our second attempt.

Yoti app kyc

In our personal opinion, we don’t like the whole verification tools out there as we do not have a way to rely on their document protection and retention process.

Once the KYC is done, the Pi Network team will select the nodes to support the network.

updated: 20-June-2020

Pi Network Platform API, Node and Scaling updates

Pi Network has released updates on its progress.  This update contains information related to 3 aspects: Platform, Node and Scaling.

Platform API

Pi Network is now successfully interacting with the DApps.  Their first DApp called FiverIQ has been live and is interacting with the Pi. There were initial hiccups, however. In this update Pi Network team confirmed that “In the current prototype live in the app, almost no such reward issue has been reported. The Core Team is also working on fine tuning the initial Pi Platform API and creating a testing environment, and we aim to make them available for developers in our community very soon, so that community members can apply to be developers and start building Pi Apps in Q3 of 2020.”


Pi Network will soon shift the Docker container from Node interface to run the consensus algorithm. In other words, Docker container will be ‘pointed to’ consensus algorithm to run the blockchain.  The team confirmed that “this will enable us to test run the Testnet with centralized configurations initially and enter the Revision Stage of the Testnet Roadmap.”


The team attributed some of the recent slowdowns and crashes to its backend testing of the architecture and that the lite mode was specifically created to ensure that the network keeps working while the pioneers are still able to perform basic functions. Team has used lite mode as a way to address the scaling aspect.  The update also stated that “In order to minimize service disruptions of the Pi App and improve Pioneer experience during such disruptions, we built and introduced the Lite mode that allows Pioneers to perform the most crucial and basic actions, i.e. login and mine, instead of having complete service outages.”
The team is expected to rollout more updates at the end of Q2.

Pi vs. Bitcoin

Some people have asked us about the difference between Pi and Bitcoin, so we thought it would be easy to show them in a table.  If we missed any or got anything wrong – please let us know.
Pi NetworkBitcoin
Created by Stanford AlumniCreated by an anonymous person or persons or group
You can mine Pi on smartphoneBitcoin requires specialized equipment to mine
Everyone with a smartphone and internet can participate in Pi NetworkOnly specialized miners are able to claim any bitcoin rewards
Pi has the advantage of using the best of blockchain technology based on industry learning curveBeing the first, Bitcoin is attributed as store of value, however more layers are being built to make it useful for everyday transactions
Fair distribution: Pi Network is designed in such a way that new adopters too can get access to the Pi coinsEarly adopters acquired a massive amount of bitcoins and the new adopters cannot get access to the bitcoin without spending thousands of dollars
Acquiring Pi Network coins is quite inexpensive. The app does not burn the data or battery to mineAcquiring Bitcoin now is very expensive for many people in the world. This is one of the reason why people are not investing in Bitcoin
Pi Network has referral system that encourages people to invite others to the network to increase its tractionBitcoin does not have any referral system; anyone with required equipment can connect to the network
Pi Network runs on appBitcoin does not run on app
Pi Network app relays ads; it is expected that the ad revenue is going to used to increase the value of network and the coins in futureBitcoin does not run any ads on its nodes

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Update 7: 29-June-2020

Pi2Day celebration on social media Pi Frame with 6 Million pioneers

Each year on the 6/28th Pi Team celebrates Pi2 Day.  This year it is quite special since the celebration will include over 6 Million engaged Pioneers globally.  Pi Team is well on its way to the 10 Million mark.  The announcement from the team reads “As some of our early Pioneers may remember, we celebrate June 28 as Pi2 Day (3.14 multiplied by 2 is 6.28). Part of the reason why we celebrate Pi2 Day is that it coincides with the end of the 2nd quarter of the year, and part is for us to share a community activity together,” the announcement continued “This year, we’re celebrating #Pi2gether on social media with a Pi frame. For Pioneers who use Facebook, you can add the Pi frame to your profile pictures here or to your videos/photos through this Facebook Camera frame here, and share the Pi-framed post with #Pi2gether on Facebook. For Pioneers who don’t use Facebook, you can adapt and share this image on other social media for Pi2 Day 2020.”
The team promised to provide more updates with the end of the Q2 and hinted that the team will host a global online convention. 


Update 8 : 02-July-2020

Pi Network releases Pi Apps platform for developers

In an exciting update, Pi Network has launched DApps platform for the developers.  The developers can use any programming language on the backend and use JavaScript to integrate on the frontend.  The platform will enable developers to start building apps that integrate Pi Currency and ‘be ready’ to launch on the mainnent once it is live, thus giving access to millions of Pi Pioneers/users.  This update is in line with Pi philosophy of mass utility and decentralization, the announcement states “once they are ready and the blockchain becomes live, their backend will be able to adapt to hit the Pi Testnet or Mainnet directly, eventually achieving decentralization. This ensures the development of utility and decentralization in parallel rather than in sequence, just like Pi Network itself.”

Pi network Apps

Enabling Pi Cryptocurrency spending
“Requesting payments from Pioneers is the main feature of this version of the Pi SDK. It may appear to be a simple interface, but it’s significant because it means developers can get paid in Pi by serving various applications to Pioneers, and KYC’ed Pioneers can spend their Pi in different applications,” the announcement clarifies.  This will pave the way for creating utility for the Pi Cryptocurrency.  Any cryptocurrency is only as valuable as the strength of its network and the utility of the DApps on the network.  By inviting the developers to create DApps with great utility and making Pi Cryptocurrency as the utility token on these DApps is how you create value for the Pi Cryptocurrency.
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All are welcome
Pi Network is inviting developers from the world to test the Pi Blockchain.  The announcement welcomes thus “to build their applications on Pi, whether they are already Pioneers, developers of decentralized applications on other blockchain platforms, or developers who haven’t had experience in the decentralized world yet.”
Bringing great diversity of DApps will increase the Pi Network value and for the developers it gives access to the incredible Pi Network Pioneers users base that consists of people who use smartphones and are always connected to the internet.  That is quite a powerful demography to have direct access to through the DApps.
While it might be too soon to celebrate, we are quite happy with the way Pi Network has been keeping up with their Road Map deadlines and progress.  We wait to see what more lies in Pi Network’s future.
You might find these links:

Update 9: 10-July-2020

Halving may prevent new users from mining Pi Cryptocurrency & Q3 Convention

With over 6 million pioneers on the Pi Network, the next halving will hit as soon as the project hits the 10 million pioneers milestone.  The reminder on the Pi app shows that there is a possibility that new users may not be allowed to mine on the platform.

It is not clear at this point if the team will remove the mining feature for new users as soon as the 10 Million pioneer milestone is reached or if they will implement it after reaching 100 Million critical mass.
This year’s convention will be online
“The Core Team has started planning on the convention and aims to hold it sometime during Q3 of this year. Due to the pandemic of COVID 19, the global convention will be online only,” announced the team.   The convention is expected to cover these specific topics: “1) the progress in decentralization, i.e. node, Testnet and technical challenges and solutions; 2) the applications of Pi and the direction of the Pi Platform, e.g. showcase of applications by developers, how to create demands for Pi through applications and the platform development.”
The agenda, speakers list, pioneer speaker selection criteria are expected to be released shortly.  Team has been consistent in ploughing through their roadmap and it is quite impressive on how they keep up with the schedule.

Update 10: 01-August-2020

GenerationPI Giveaway: Opportunity to choose who builds on Pi Network

GenerationPI Giveaway is underway and 10 winners will be selected to receive the Pi mugs.   All you have to do is to join the contest via Facebook or Twitter and tag the brand you like to see build on Pi Blockchain Apps Platform.
You can join the contest via Twitter here.
You can join the contest via Facebook here.

If you have been involved with Pi Network, make sure to let your voice heard through this contest.

Update 11

Pi Network Convention – inviting applications for Speakers

Pi Network team is going to conduct this year’s convention online and is inviting applications for speakers in two categories: Community track (influencers) and Developer track (developers who intend to build on Pi).
Those who speak English with content relevant for global communities can be on the Global session while those with regional language skills can opt to be on the Regional sessions.
Pi network updates
Application Process
According to the office announcement, “there are three stages in the application process to be considered as a speaker for the Pi Convention.
  1. First application for Speakers. The Pi Core Team will read applications & invite potential candidates for the next round application.
  2. Second round application. Candidates will be asked more in-depth questions about their presentation & to provide a short demo video submission of it.
  3. Final selected speakers will be contacted and notified.

If you are interested in speaking at the Pi Convention, please apply HERE.”

Update 12

When will Pi Coin list on exchanges?  Mine before the rates are slashed

As it turns out, even BitBoy refers to our article for information. You can see that in the below video CryptoTapas article is being referenced when talking about Pi Network.

In this video, BitBoy hints that the team is working on the exchange listing and that we could soon see Pi Coin on an exchange. However, this information has not been confirmed by the team or on any official channels.

This FREE CRYPTO could make you RICH in 2020! (Pi Cryptocurrency Review)

FREE crypto that could hit moon status before even hitting an exchange!? Pi is a project still in beta mode. It is a mobile mining cryptocurrency attempting …

In another news, Pi Network’s earning rate is going to be slashed to half or completely shutdown once the network reaches 10 Million pioneers. Pioneers is the word used to refer the individuals who start mining the Pi coin on the Pi App.

Those thinking to get into Pi Coin might want to start mining while the rates are still good.

Our take on the project

It is quite refreshing to see how the first pilot project is aimed at solving a ‘real-world’ issue rather than creating FOMO of sorts.

Obviously, there are a lot of solutions out there that are aiming to achieve a similar objective, however, the user data privacy is arguably a big issue with those solutions.

An app that focuses on symptoms tracking rather than ‘particular patient tracking’ could be helpful in ‘alerting’ the communities as to when they have to be extra-cautious in their locale.

Thank you for reading and sharing this article and if you have spare satoshis lying around – consider donating.

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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Devaluation of the US Dollar Could Decimate Savers! Strategies to Hedge Risk



Devaluation of Currency

Devaluation of the US Dollar

Quiz: Will devaluation of the US dollar impact your financial life?

What to expect in this article?

  • What is devaluation of currency
  • How devaluation of currency impacts us
  • Strategies to hedge against the currency devaluation

There is an apparent disconnect between Wall Street and Mainstreet.

This divide has not been as apparent and blatant as it has during this COVID crisis.  

As the number of unemployment claims are rising to levels never seen before, Wall Street is rallying at full swing.

In the middle of this disparity and economic unrest, some economists are warning us to brace yet another crisis called Devaluation of Currency.

What is devaluation of currency?

InflationDevaluation of currency is essentially reducing the value of currency.  

This can be done through:

  1. Printing more money:  When supply increases, price falls.  This simple economic principle applies to everything
  2. Policy makers decision:  Policy makers may decide to ‘devalue’ the currency to keep the country’s exports competitive.  The US is a heavy importer, so this strategy, if implemented, could hurt the US more than other countries
  3. Selling off reserves: A country could dispose its reserves that pegs the fiat and then set a new exchange rate for its own currency (the disposal of reserves to buy its own currency either by taking out of circulation or printing more)

Sometimes devaluation of currency is not voluntary.  

Look at countries like Argentina, Venezuela, etc., their currency devalued by multiple folds because their economy was deemed to be unsustainable.

Why devalue the currency?

Countries devalue their currency primarily for following reasons:

  • Exports

Let’s say if I export Saffron from India at 2 bottles per $1.  IF India devalues its currency by 50%, now I can get 4 Saffron bottles for $1.  

This drop in currency value encourages exports.

Countries like China, India and others who rely on exports (of goods and services) can reap greater economic benefit by devaluing its currency.

  • Trade Buffer

When a country notices that its imports far outweigh the exports, it can use the currency devaluation as a buffer measure to balance the trade equation.

Generally speaking, a weak currency encourages people to buy more from the nation (win for exports) and discourages people buying from outside the nation (a loss for imports).

  • Debt

Let’s say you owe me Indian Rupees 75,000, at the time of this writing, that would be around US$1000.  Let’s say, India devalues its currency to 50%.  

This means, I can still pay you back your Rs. 75,000 with $500.

While this strategy might not be great to service ‘outside’ debts that are denominated in foreign currency, it is a strategy used to service obligations within the country.

Devaluation of the USD in the wake of Yuan devaluation

The US is the number one importer in the world.  It ranks number two as an exporter.   

In theory, devaluation of its currency may help increase its export footprint.

However, due to recent devaluation of Chinese Yuan, the devaluation of the US dollar could work against the US, in the short term.

For one, devaluation of the US will simply equalize the impact of Chinese devaluation.  

Two, it will make the imports more expensive thus might encourage demand for home products thus reducing the reliance on Chinese imports in the first place.

In addition, as things become more expensive in dollar denomination consumer demand could see a sharp decline which will further slow down the economic recovery.

Why should I be worried about devaluation?

us dollar under threatAnyone holding their savings in the US dollars might have to pay attention to the possibility of devaluation of the US dollar.

If the US declares that it is devaluing its currency by 30% then your savings lose 30% value overnight.  

In reality, the fear might set into the market and crash the valuation even further.

For example, if you were planning to retire with your $100,000 savings and the government devalues the currency by 30%, all of a sudden your $100,000 will only buy you goods and services worth $70,000.

That is a huge blow for people who have meticulously planned the mileage of their savings.

Can the US devalue its currency?

In theory, yes.

The United States has adopted a Strong Dollar policy for over 3 decades now and this gives it the status of global reserve.

If President Trump were to shock the markets to make a mark in global trade, he could order to devalue the US dollar.

If we know anything about Trump, he is all about shocking the world.  So the realms of possibility of devaluing the US dollar are not out of the question.

Strategies to hedge against devaluation of currency

Lot of financial gurus and speculators are expecting the US government to use devaluation as a strategy to make good on its debt.

If this were to happen, you don’t want all of your life savings held up in the US dollar which could see a drop in its purchasing power.

Following assets have come to act as ‘hedge’ against any potential volatility in the US dollar value.

Real Estate

Real Estate cryptoWhile the market is currently hyped up in real estate, it still could offer a safe haven in the event of devaluation of USD.

For instance, if you bought a property for $200,000 today with a fixed interest rate, in the event the US dollar is devalued to say 30%, then someone coming into the market will have to pay $260,000. 

And because you have picked up the property for fixed interest, in theory, you could be paying lower interest compared to the rental costs in the post devaluation world.

This strategy may not work if the US undergoes a long recession as a result of devaluation and then falls into deflation (which will reverse the above strategy). 


bitcoinMany financial veterans are turning to Bitcoin because of its deflationary supply and potential to change the financial markets forever.

Obviously, being a relatively new asset class, it is not a guaranteed safe-haven.  Although many believe Bitcoin to be Gold 2.0.

A small stake in Bitcoin could turn into ZERO or a 10x of investment.  No one knows which side the tide will turn.

Economic models based on demand and supply (and stock to flow ratio) suggest that Bitcoin has only one way to go: UP.   

Bitcoin has a history of proving economic models wrong and shocking the world. Will it go upward into millions or crash and burn into oblivion?  

Only time will tell.

Gold & Metals

Gold vs BitcoinWhile Bitcoin is considered money of the people and Gold has been regarded as the god’s money by Robert Kiyosaki. 

Silver is considered an underdog at this point.  

Between gold & silver, the metal duo has been long acting as a safe-haven for market volatilities.

Obviously, you cannot compare Gold and Silver trajectory to that of stock markets or bitcoin since these metals are designed to act as ‘hedge’ not as wealth multipliers.


MarketIf looked at the stock market from a macro level, it has been on an upward trajectory, generally speaking.  

Even with the occasional recessions and rare depressions, Stock market has in general kept an upward trend from a macro perspective.

Within the stock market, there are some up and coming industries where the returns could be extraordinarily high, like for example:

Blockchain industry: Companies involved with blockchain space could see a great momentum in the coming decade.

Cannabis industry: Cannabis industry is slowly spreading its claws and becoming 

mainstream in the similar fashion how Liqor once did.

5G: Beyond the conspiracies surrounding 5G, we know that this is the next phase of the 

internet evolution and

BioTech: Whether it is advancing surgeries, or reversing age with stemcell inventions or 

simply decoding the DNA to make medicine more personal, BioTech is a place where the next level of innovation will take place. 

Artificial Intelligence: We are clubbing Augmented Reality, Artificial Intelligence into one basket and I think this space could hand out handsome returns.

Just because we do not invest in stocks doesn’t mean they are not a viable investment vehicle.  DYOR and see if you can find some gems.

Few things to remember

Do not over-correct

You do not want to find yourself in a situation where you invest 100% into any one type of asset and that asset tanks in value.

For instance, if you invest 100% of your fiat into Bitcoin, what happens if Bitcoin crashes?

If you invest 100% in real estate, what if we face deflation instead of inflation and the price tanks or paying mortgages becomes too expensive?  

You will then be forced to service a loan that might be higher than the rent you receive.

Point is, you want to hedge into different asset classes so that you are not putting all of your life savings in one type.

Safety net

Whether we face extreme inflation or deflation, we all need cash on hand to meet our daily needs.

You cannot easily sell your gold or real estate if you need cash flow. Bitcoin’s volatility makes it a bad choice to be looking to liquidate in the time of emergency.

You always want to keep a certain amount of money in liquid fiat to meet your immediate needs while you secure your financial future with an appropriate hedging model.

In conclusion

The topic of devaluation of currency is one that we all need to be at least aware of.  

Having an hedging plan to withstand any surprises introduced by market volatility is important so that you are not wiped away, financially speaking.

The above hedging tactics are based on what we are looking to do personally. We cannot tell you what to do.  

Thank you for reading and sharing this article. We appreciate you.

Thank you for reading and sharing this article. Stay safe and healthy!

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Is Elrond better than Ethereum? Should I invest?



Elrond Token review

Elrond(ERD) Token Review

Would the modern magic of internet work if we were still using dial ups? If you are from the generation that doesn’t know what a dial up means, it looks like this:

AOL Dial Up Internet Connection Sound + You’ve Got Mail (America Online) 90’s

Take a walk down memory lane and listen to the AOL (America Online) Dial-up internet connection sound and the famous You’ve Got Mail. Subscribe to Adventures…

Essentially, it would take you 30 seconds to 3 minutes to connect to the internet and open a text email.

If you were to load the YouTube website at the 56kbps speeds (considered good in those early internet days), it would take you probably 20 minutes.

We tried to load YouTube at 56 kbps speeds and after 7 minutes we were still waiting for the page to load. Compare that to the broadband that loads YouTube in a split second.

You can test what it feels to browse at 56kbps here.

While it is quite an extreme and dramatic example, I think that is the closest you can come when you try to explain what Elrond is in comparison to Ethereum.

At its current state, Ethereum processes 15 transactions. Compare that to Elrond which processed 35000 transactions during the test net run.

Obviously, the test environment is different compared to the real world.

Ethereum 2.0 could solve some of Ethereum 1.0’s flaws with claims of 100,000 to Million TPS. That is something we have to wait and see.

OK, what is Elrond?

There have been at least 100 Ethereum killers on the market since the birth of Ethereum.  Ethereum (Classic) couldn’t kill Ethereum, so we are not sure others will.

What is Elrond

Ethereum currently has serious scalability and TPS issues. Listen to this clip where Vitalik admits that Ethereum 1.0 cannot scale.

No Title

ICO prospectus: “Build scalable apps on Ethereum.” Mod: “Youre saying the concept of launching something that doesn’t scale then rebuilding it as something thats scalable was part of initial the plan.”Lubin: “We knew it wasn’t going to be scalable for sure.”Vitalik: *nods*

Ethereum 2.0 could be a whole another story.  However, it is not a reality at the time of this writing.

Elrond on the other hand already delivers on what Ethereum 2.0 is ‘aiming’ to.

In a somewhat hyped elevator pitch, Beniamin Mincu, CEO of Elrond, said that Elrond is a 1000x improvement over other protocols in the blockchain space.

In a nutshell, Elrond offers a high throughput blockchain ecosystem that makes use of sharding that ‘scales’ (adapts) with the demand put on the network.

This adaptive sharding helps Elrond to be efficient, secure, scalable and provide a high rate of TPS.

This is why Elrond boasts itself as A highly scalable, fast, and secure blockchain platform built for internet scale.”

ERD Scaling

What makes Elrond Special?

The strength of Elrond, in our opinion, is not in its novel or groundbreaking innovation.

It is in the simplicity of picking the ‘best’ of all the blockchain protocols that preceded and only solve the issues that these protocols failed to solve.

For instance, Elrond picks sharding from Zilliqa but makes it ‘adaptive’.  It picks interoperability from Cosmos and implements it at Virtual Machine level.   

Elrond says it as much in its whitepaper: “Elrond was designed upon and inspired by the ideas from Ethereum, Omniledger, Zilliqa, Algorand and ChainSpace.”

If we are to compare blockchain revolution to the internet, we have to assume that many companies will be replaced by newer solutions. 

Whether Elrond is that ‘next generation’ blockchain or if it will be eaten away by another project is something we have to wait and see.

For now, let’s focus on what Elrond promises that makes it special.

“1000x improvement” over its predecessors

“Elrond is a new blockchain architecture that can bring 1000x cumulative improvement in scalability, throughput, transaction speed and transaction cost,” that is how Beniamin Mincu, CEO of Elrond, explains the project.  


Elrond promises to be able to ‘adapt’ to the scaling needs of the network.  The project uses what is called ‘adaptive sharding’.

For the technically inclined, here an excerpt from the whitepaper:

“Elrond proposes a dynamically adaptive sharding mechanism that enables shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards at the beginning of each epoch is progressive and nondeterministic, inducing no temporary liveness penalties.”

Sharding is the process of breaking down a big problem into small ones to solve it faster.


Elrond uses a modified version of Algorand’s Secured Proof of Stake concept.

Secure Proof of Stake randomizes the ‘selection of a node’ so that security is not compromised through 51% brute force.

Elrond goes one step further on this sPoS model where it introduces ‘stake and rating’ criteria to be even eligible to be randomly picked as a node.

Adaptive sharding is the ability to scale up or down the number of shards depending on the transaction at hand.

Obviously, that is a dumbed down English explanation of it, as we understood it.

This makes selection of nodes ‘random’ while taking meritocracy into consideration.

The rating is dynamic and is recalculated at the end of each execution.

ERD Token

Many investors in the crypto space don’t care what the project does if the tokenomics are weak.

  • Transaction fees

Elrond’s utility is acting as the ‘native’ token on the network to pay for the transactions. The more transactions that take place on the network the more Elrond will gain in demand.

  • Staking

Elrond offers crazy returns on staking. This means, there is a probability that many tokens will be locked out of circulation which could boast the price.

  • DApp Deployment

Like any other blockchain network, Elrond token acts as the ‘utility’ on the DApps deployed on the network.

  • Validator reward

Validators are rewarded for their work and Elrond token is used in disbursing these rewards.


Crypto space is excited about the team that is involved in the Elrond project.

Just looking at the profiles of CEO, COO and CIO showcases that you are not dealing with a group of wannabes.

Elrond Team

The team brings in the right mix of technical prowess and business acumen.

Many blockchain projects either lack a strong technical forte or suck at running the business.  Elrond may not have that problem due its ‘experience mix’.

Partnerships and Integrations

This is one project that is making a lot of buzz in the past two months, with continuous updates and partnerships. Here are a few:

ERD and Indacoin

ERD and Indacoin

Indacoin is a fiat gateway with over 500K users which allows users to buy crypto with Visa or Mastercard using USD, GBP, EUR and many other currencies.

ERD and dfinance

elrond and dfinance

Elrond will work together with dfinance to enable users to build Elrond native assets as well as allow Elrond users to access DeFi platforms on dfinance.


Elrond and EDV

ERD tokens are now available on LDV, a Romanian crypto exchange and a fiat gateway. ERD/EURO and RON/ERD pairs will be available on the platform.

ERD and

elrond and

Users of can now buy ERD token on their app. is considered one of the easiest modes of buying and selling crypto. With deposits and withdrawals of erd token enabled on, the token is now available for over 3 million users of

ERD and Utrust

Elrond integrated with one of the leading payment gateway for ecommerce, Utrust.

ERD and Swipe

Swipe partnership elrond

ERD is partnered and now available on swipe, a multi currency digital wallet. Swipe has over 500K users.

The other partnerships and integrations include Stateless Money, Staked, Moonpay, FinNexus, and many others.

Elrond is gaining traction fast and furious. Will it amass enough steam to surpass other blockchain protocols?  

We have to let the time answer that question.

ERD Token Metrics

ERD Token Metrics

Source: Elrond

*These token metrics are about to change after the EGLD swap.

Some pump and dump chat

You will notice that Elrond is showcased on the Samsung official video introducing Samsung Blockchain.

Samsung Blockchain wallet elrond

First and foremost thing everyone is excited about is its mainnet launch. 

We believe the rise in price is not just because of its mainnet launch, but also the high staking rewards that are expected to yield after the mainnet launch. 

With over 5 Billion ERD tokens already staked during the testnet, it is possible that more users will stake their tokens for passive income.

Risk factors

Late to the party, not to the town!

There are a lot of blockchain platforms in the blockchain space. Many promise sun and the moon with 100K to a million transactions per second.  

Most of these promises are just that as of now, promises.

Elrond is late to this TPS race, however, it could do what others have failed: Actually live up to its claims on the Main net.

In this sense, Elrond is late to the TPS party but it is not late to ‘make a mark’ for itself in the blockchain town.

More advanced projects in the space

What happens when Ethereum addresses its TPS issues, scalability aspects and makes it incredibly easy for people to launch DApps?

Ethereum already has a massive penetration in the space that it could leverage.

Beyond Ethereum, there are other projects like Zilliqa that could pose stiff competition to projects like Elrond.

And, do not forget Cardano, a project that is preparing its arsenal for a hostile takeover of the crypto space.

What is a head in Elrond’s Roadmap

Elrond Roadmap

Source: Elrond

Elrond Swap


With the launch of Elrond Mainnet, Elrond token (ERD) will be swapped for Elrond Gold (EGLD), at a 1000:1 ratio. Simply put if you hold 10,000 ERD tokens, it will be swapped into 10 EGLD. In terms of price, if the current price of one ERD is $0.024, the price of 1 EGLD (*1000ERD) will be $24.
Elrond has garnered quite a lot of buzz before the mainnet, now it all comes to how the project is going to progress beyond mainnet.

How to swap ERD

As per their official Telegram channel, exchanges are making preparations to support Elrond swap to Elrond Gold.  The tokens will be swapped in about 30-60 days and the ERD(ERC20, BEP2) will be replace with eGLD. Check with your exchange and look out for communication about the swap support. Till then, ERD trading will run as it is over the exchanges.

Pros of Elrond Token Swap

The swap is expected to reduce the current total volume of 21 Billion ERD tokens to 20 million eGLD and to 30 million over the next ten years which in theory should make the coins dearer.  How this will work in reality is something we have to wait and see. Case in point but in reverse is VeChain, which was trading at $9 before the swap at the ratio of 1:100 and the price dropped so low that it has not yet recovered.

Cons of Elrond Token Swap

In our opinion, it is easy for a coin to jump from 1 cent to 2 cents and 2 cents to 4 cents, however, there is a psychological barrier from investors to let a coin trading at $20 to move to $60. However, if you see from a percentage, the underlying gains are the same. 1 cent to 4 cents is a 400% jump, however, it will take a lot for a $20 to jump to $80. If Elrond proves its value in the blockchain space then the project may pump in spite of the denomination.
Thank you for reading and sharing this article. Stay safe and healthy!

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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V-ID is bringing real world use case to Blockchain, can it succeed?



Vidt Token review

VIDT Review, use cases, future prediction

What follows is the byproduct of our research on whether or not V-ID is a good project.  

We have a tendency to FOMO, so read everything with a grain of salt and always DYOR.

What is V-ID?

Anything digital can be altered. How then can you be confident about the authenticity of the digital files you are dealing with?

“V-ID is a blockchain powered document certification service. The VIDT API enables organisations to certify and secure their digital data against fraud and manipulation.”

You can tag digital files using V-ID and anyone around the world can verify its authenticity by simply using V-IDs free checker.

If any information is changed within the file, V-ID flags it.

This technology has an immediate use case in the real world to fight digital frauds. Especially in dealing with:

  • Invoices
  • Scientific papers
  • Contracts
  • Official documents
  • Diplomas/certificates
  • Data from Internet of Things

Watch this quick video to learn about V-ID.

Introduction to VIDT V-ID Blockchain Powered Validation

The V-ID validation service uses blockchain technology to end all document fraud. Our client base, with customers like Airbus Space & Defence, operates in va…

Take a simple example of purported crypto ‘recommendation reports’ that float on the internet. How do you know they are what subscribers were given?

How can you be sure that the document is not manipulated by someone to ‘alter the buy up to and sell at’ prices?

In this simple situation, using V-ID, one could verify the authenticity of the document.

In a world of Deep Fakes, a solution like V-ID can be a lifesaver.

How big is the problem that V-ID solves? 

According to the Javelin Strategy report, Identity fraud cost $16.8 Billion dollars in 2019 alone.  

Obviously this includes credit card and account takeover frauds. However, when a solution like V-ID becomes integrated, there is an opportunity to curb these identity thefts as well.

Fraud Detection and Prevention which was valued at $17.33 billion is expected to grow at an 18% (CAGR) rate from 2019 to 2025.

The more diverse our technology becomes with the advent of Internet of Things, Artificial Intelligence, Cloud Computing, Augmented Reality and reliance on smart mobile devices, the more we grow vulnerable to fraud.

In our opinion, the fraud space is only going to grow bigger and faster.  

V-ID has an opportunity to place itself as a reliable solution by leveraging the blockchain’s resilience.

VIDT Technology

Source: V-ID

Using V-ID

Any solution’s success will depend on its ‘ease-of-use’. We tested the V-ID ‘certification’ to get a taste of the platform.

When we scanned the QR code of the document, it took us straight to the document where we could easily verify that it was indeed ‘authentic’.

The ease at which you can verify someone’s credentials, certifications, diplomas, etc., is simply awesome.

Users can verify the authenticity of other documents through their free online checker. Obviously, the company has to be signed up with V-ID for the documents to be ‘stamped’ on blockchain.

V-ID promises verification in 5 seconds.  Here is a video that shows how the verification works.

VIDT V-ID verification live demo

The V-ID validation service uses blockchain technology to end all document fraud. Our client base, with customers like Airbus Space & Defence, operates in va…

All in all, the concept behind V-ID is quite simple and easy to use.  

This ease of use accompanied by an amazing use case is what forms the basis for blockchain’s adoption.  The tool makes you forget about the blockchain altogether.

Does V-ID need Blockchain?

Yes. We think V-ID has a blockchain use case.

When it comes to providing a hack-resistant environment and resiliency to the underlying system, blockchain really shines.

The V-ID makes use of blockchain the backend without inundating the end users with the intricacies of ‘how blockchain works’ is quite admirable.

“Currently V-ID offers anchoring in Ethereum, Bitcoin, IBM Hyperledger, Fantom, LTO Network, Digibyte and Binance Chain.” 

For V-ID, in our opinion, Blockchain is not just a fancy jargon to allure people to the project but rather it is a smart technology choice to meet the business objectives.


Vidt Team

Source: VIDT

Marnix van den Berg, Founder & CEO, has over 17 years of experience.  He is supported by 3 other Founders on the project.

Pim Voets is the Founder and Lead Concept Design, Ceciel van Helden is the Founder and Lead Programmer, Wico van Helden is one of the Founder.  

The teams section of the website shows about 9 team members and 6 advisors, including Chris Robinson, Ex-CTO of American Express.  

Just between the 4 founding members have a combined experience of over 70 years. Wico van Helden has hands-on experience in taking a company IPO.

Progress, Case-studies and traction

V-ID has been associated with many brands.  They showcase few case studies on their website:

VIDT Case study

AMSPEC is using the V-ID technology to verify the authenticity of their inspection reports

How AmSpec protects data integrity with V-ID

Amspec has started to utilise V-ID blockchain validation technology to protect the authenticity of their inspection reports. This means that recipients of a …

V-ID made history by bringing 17th Century Rembrandt to the blockchain.  This verification was made possible with CMS Law acting as notary, collaboration with Duowes Fine Arts and V-ID.  

VIDT Rembrandt on chain – V-ID collaboration with Douwes Fine Art and CMS

For the first time, V-ID’s validation platform, known for securing digital files against manipulation, extends its activities into the physical world, by val…

V-ID is bringing certificates and diplomas onto the blockchain.  To this end V-ID has collaborated with NYENRODE and HBO Drechtsteden.

V-ID successfully installed the first IBM Watson-connected IOE sensor with V-ID data anchoring.  

IBM & V-ID install first IoE sensor on IBM NL headquarters’ roof

V-ID partners with Caltrix Consultancy to offer a tailored solution for any financial organisation to comply with KYC/AML challenges. 

LTO Network and V-ID entered into a partnership by rolling out an immediately applicable, GDPR-compliant blockchain solution for companies and governments. 

This alliance allows for any party to verify the authenticity of the diamond using the certificate, and the authenticity of the certificate using the V-ID service.

The brands with which V-ID has worked with and the diversity of the projects they have been involved in bring a lot of confidence in this project, in our opinion.

Price – Revenue Model

Companies need cash flow to sustain and grow. It is important to have a revenue plan for the company to thrive.

V-ID offers 3 different pricing options that you can see below.

VIDT Price chart

Euro 2 per file may seem like a big deal but companies have the option to use the verification only for sensitive documents.

For example, on invoices or contracts, to ensure authenticity.  

Challenges to consider

Icon Latest UpdatesOne of our favorite projects, ICON, also rolled out the Broof concept which helps organizations verify certification.

Blockchain projects, like ICON, with existing capabilities could potentially ‘extend’ their solutions in the verification arena.  This could pose stiff competition.

The verification problem is so big that it can accommodate more than one player, however, the more players you have the more it dilutes the upside potential.

What Blockchain identity verification will not solve!

Demand for counterfeits

When all is said and done, counterfeits exist because they have market demand.  Without demand a product doesn’t sustain long.

There are millions of people who want to experience luxury on budget, by choice or because of lack of choice.

The projects like V-ID cannot solve the counterfeit market for those who specifically seek them out.  

However, the project does solve the ‘authenticity assurance’ demand for people who are paying the full price for the genuine product.

Market for ‘copies’

Digital products have an amazing advantage which is its major flaw and that is: it can be replicated without much effort.

If someone is deliberately seeking out for a pirated copy of something, there is so little you can do.

VIDT, Coinmarketcap and where to buy and sell?

V-ID Blockchain has its own native crypto with ticker symbol: VIDT.

We have to specify this because there is another project on coinmarketcap with VID symbol and we had few folks who seemed to be confused.

At the time of this writing, VIDT was ranked at 224.

At this time, you can buy and sell VIDT at KuCoin.

In conclusion

Blockchain finds a great ‘real-life’ business use case in V-ID.  

The association of the project, even if indirectly, with big brands like IBM, AirBus and more is just a testament to the viability of this solution.

While it may be possible for other projects to try and emulate the V-ID solution, the focus and dedication of the V-ID team could put up a mighty fight, in our opinion.

Ultimately, the problem of fraud is quite big and could easily accommodate success of multiple players.

In the end, we are coming to the same opinion about V-ID that Chris Robinson, ex-CTO of American Express, did and that is “V-ID is a rare combination of 3 things — A great idea in a large and almost green space market. A company with a proven track record and real-world customers. And, finally, an exceptionally high quality team and advisors.

Thank you for reading and sharing this article. Stay safe and healthy!

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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