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Who is Satoshi Nakamoto?



satoshi nakamoto

“Who is Satoshi Nakamoto?” the one question that has the crypto world obsessed more than any other.

There have been many candidates who were handed the title and all returned them saying “not me”.  

We would expect the real Satoshi Nakamoto to say exactly that: “not me”, however, today, we are going to look at the candidates who have been named Satoshi Nakamoto and why they were named as such.  In conclusion, we will list our favorite candidate for the title of Satoshi Nakamoto.

Satoshi Nakamoto Net worth

Let’s begin the hunt!

NSA…who knows, they do!

The SHA-256 algorithm that is the basis of Bitcoin’s ironclad security was first introduced by the National Security Agency (NSA).   

All in the name

One of the many translations of Satoshi Nakamoto to its English equivalent means “Central Intelligence” which made people speculate that one or more government agencies are actually behind Bitcoin.

Electronic cash like Bitcoin helps agencies like NSA

NSA bitcoinThink about it for a second.  The perpetrators who want to do heinous crimes while being anonymous would love an electronic cash system that they ‘presume’ to be anonymous.  Only it is not and the agencies know exactly what’s going on and they crack down the perpetrators through a slight of ‘anonymous’ cash.  As far back as 2013, NSA had listed Bitcoin as their “#1 priority” to track.  Bitcoin transactions even got a mention on Snowden’s leaked documents.  

So yeah, there is a possibility that the bitcoin was all a big ruse to ambush the ‘tough to catch’ criminals and NSA accidentally gave birth to this entire blockchain and bitcoin revolution.

This one reason should make you believe that NSA may have created the Bitcoin

Here is the kicker, back in 1996 NSA has made public an entire thesis and framework on Electronic Cash using cryptography.  The paper titled “How to Make a Mint: The Cryptography of Anonymous Electronic Cash” described the intricacies of public-key, transferability and divisibility while addressing the issues of double-spending and wallets.  

The more we dig, the more we find reasons that an agency like NSA has many reasons to create something like Bitcoin and leave it to the wild only to follow the money, literally to nab the anti-social elements.  Just saying.

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Hal Finney

Hal Finney BitcoinThe guy who was on the receiving end of the first ever Bitcoin transaction, Hal Finney has been long thought to be the real Satoshi Nakamoto.  

Why not, there are so many uncanny things about Hal that he could easily fit the bill to be the real Satoshi.  

Hal lived close to a gentleman named Dorian Satoshi Nakamoto and many think that he used this name as a clever disguise. Hal is purportedly the first enthusiast supporter of Satoshi’s bitcoin vision. He tweeted about his involvement with Bitcoin as far back as 2009.  

Besides, Hal is an expert programmer who created the first known anonymous remailer, and as far back as 2004 – he created a “reusable proofs of work (RPOW) digital cash system.”

Hal quit his job in early 2011 and the last known email correspondence with Satoshi is in 2011.  This too is used as a ‘hint’ that Hal was indeed true Satoshi Nakamoto.

One of the theories that gets floated around is the reason as to why the Satoshi’s bitcoins do not move is because Hal, who is real Satoshi, is dead.  

Whether Hal is real Satoshi or not, he is definitely the one who breathed life into the Bitcoin project during its early days.  For that he has our respect.

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Dorian Nakamoto

In a 2014 expose, Leah McGrath Goodman, a Newsweek reporter claimed that Dorian Satoshi Nakamoto to be the real Satoshi Nakamoto.  

In the article, a peek into Satoshi’s career by his brother states “What you don’t know about him is that he’s worked on classified stuff. His life was a complete blank for a while. You’re not going to be able to get to him. He’ll deny everything. He’ll never admit to starting Bitcoin.”

The intrigue of a ‘secret career’ further flared the flames that Dorian Satoshi was indeed the creator of Bitcoin.  

Dorian publicly denied the claim that he is Satoshi Nakamoto.

Dorian Nakamoto – Thank you Bitcoin Community

Dorian Nakamoto’s message to the bitcoin community, at the conclusion of the Dorian Fundraiser. Donate more to his fundraiser: 1Dorian4RoXcnBv9hnQ4Y2C1an6NJ4…

Dave Kleiman

Dave Kleiman BitcoinDave Kleiman served in the law enforcement when he could have made boat load of money with his coding skills.  It was not until his accident that he was confined to a wheelchair and dedicated most of his time in front of the computer.

At the most dire time of his life, even when he had access to over 1.1 Million Bitcoins, he did not touch them.  

Those 1.1 million bitcoins were given him by Craig Wright who they were supposed to be returned to in 2020.

Dave’s love for technology was such that every time he would get out of a surgery (he had many after the accident) he would quickly return to the computer.

Craig Wright…yeah right!

Craig Wright BitcoinConsidered to be the joke of Bitcoin-verse, Craig never fails to amuse people with his outrageous claims, including threats to shut down bitcoin and that he is in fact Satoshi Nakamoto.  

Few things do work in Craig’s favor in terms of ‘hinting’ him to be the Satoshi Nakamoto.  For instance:

  • Craig supposedly entrusted Dave Kleimen with 1.1 million bitcoins for safekeeping.  Some people believe that only Satoshi would have such a large pile
  • Craig once sent an email from the same email that Satoshi owned, spurring the speculation that he might be the real Satoshi

You could give us 100 more reasons indicating Craig to be true Satoshi and we will still deny it.  Craig just doesn’t have the composure of a genius who could build something as profound as Bitcoin.

Nick Szabo

Nick Szabo BitcoinThe first ever address on the Bitcoin has initials NS and Satoshi himself stated that he would include his signature on the first address.

In an email from 2009, Satoshi hinted “I just thought of something. Eventually there’ll be some interest in brute force scanning bitcoin addresses to find one with the first few characters customized to your name, kind of like getting a phone number that spells out something. Just by chance I have my initials.”

That address is: 1NSwywA5Dvuyw89sfs3oLPvLiDNGf48cPD 

And, many people point to Nick Szabo for the NS initials.

In 2014, British University researchers claimed that they had performed numerous linguistic analyses and pointed to Nick Szabo as the creator of Bitcoin.  

They concluded that “Our study adds to the weight of evidence pointing towards Nick Szabo. The case looks pretty clear-cut. Szabo is an expert in law, finance, cryptography and computer science. He created “bit gold”, a precursor to Bitcoin, and was looking for collaborators in 2008. Did Nick Szabo create Bitcoin? We’re not sure, but we think he probably wrote the paper so it’s certainly worth a closer look.”

Another point raised by the crypto enthusiasts is the fact that Nick’s blogging frequency took a nosedive in 2009, the year Bitcoin was released.

Bitcoin Blog archive

One can observe that blog posts have decreased significantly starting in 2009 compared to the previous years.

All in all, Nick Szabo is the closest person who came to be Satoshi Nakamoto, although our eyes are set on the next candidate: Elon Musk.

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Elon Musk, a likely candidate, in Elon we trust!

Here is the mission and vision of PayPal that was started in 1998: “PayPal’s mission and vision is that every person has the right to participate fully in the global economy, and that we have an obligation to empower people to exercise this right and improve financial health.”  

Elon Musk BitcoinWas PayPal able to meet its original vision?  

We think that PayPal is operating way-under its true potential because of all the red tape it has in its way for being a legitimate company operating in the business world.

Who created PayPal? 

Elon Musk.

10 years after starting PayPal and seeing the financial ruins left by the collapse in 2007-2008, it is quite probable that Elon Musk devised a new way to achieve his vision. Because, Elon never quits.  

Afterall, you cannot use fiat on Mars, but you can use Bitcoin, in theory.

Other factors that point to Elon Musk as Satoshi Nakamoto:

  • Elon’s strong focus on disrupting the world with better technologies that are not bogged down by the bureaucracy
  • Elon got into hot water for taunting SEC with his ‘free to do what I want’ behavior
  • The timing of Satoshi’s exit from Bitcoin and the ramping up of SpaceX activities are uncanny
  • Elon Musk’s strong background in C++ coding and the fact that Bitcoin is originally coded in C++
  • Elon’s active involvement in producing cheap-to-free electricity  (Bitcoin’s biggest criticism is that it takes up extensive energy)

The timing of Satoshi Nakamoto conveying that ‘he moved onto other things’ in 2011 coincides with the year in which SpaceX was working on Falcon (and one year after Tesla went public).  Clearly, the priorities of taking humanity to Mars and disrupting the entire auto-industry might have kept Elon busy, is a likely argument for why ‘Elon’ excused himself.

We personally don’t care if Elon Musk is actually the creator of Bitcoin, but we hope that he is.

10 Interesting facts about Satoshi Nakamoto

This video covers 10 interesting facts about Satoshi Nakamoto including his nomination for Nobel Prize.

Bitcoin | Satoshi Nakamoto | 10 Interesting Facts About Satoshi Nakamoto

We bring amazing facts about the CEOs, executives and the great personalities from the Blockchain and Crypto space to you through these videos. Subscribe to …

Satoshi Nakamoto’s wallet will never move

In our wild speculation, the close to 1 million bitcoin in Satoshi’s wallet will never move (unless Quantum Computers break the bitcoin network) because they are actually bitcoin stored by Dave Kleimen on behalf of Craig Wright.  According to Dave’s friend and business partner, Patrick Paige “If you told me there was a million dollars on Dave’s computer in this room, I wouldn’t even bother trying to look for it,” Paige said. “It would be a waste of time.”

Dave is known for his super-advanced encryption practices and if he was the one who stored them away – it may be nearly impossible to retrieve them.


Just searching for Bitcoin creator Satoshi Nakamoto reveals the toil and dedication of so many people who were involved in giving birth to the Bitcoin revolution.  Everyone connected with the crypto space owes a special thank you to the greats like: Dave Kleiman, Hal Finney and Nick Szabo. 

In our opinion, Bitcoin was created by a team of visionaries and computing geniuses that includes Hal Finney, Dave Kleiman, Craig Wright, Nick Szabo and, yes, Elon Musk.

That is why people fail to prove one of these individuals as the sole creator of Bitcoin because it was indeed created by a consortium of programming genius, not a single person.

Whether bitcoin was created by a single individual, a group of men or an alien, it may not matter but what matters is that genie is out.

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Frequently Asked Questions

After posting this article on who Satoshi Nakamoto is, we were asked other Satoshi related questions.

We are adding this FAQ.  In answering the questions below, we refer to Satoshi Nakamoto as Satoshi.

What is Satoshi [in bitcoin]?

Satoshi is the smallest unit of bitcoin.  It refers to the 100 millionth of a bitcoin. Like a single US dollar can be split into 100 cents, similarly, 1 Bitcoin can be split into 100 million units and each unit is a Satoshi.

What is Satoshi’s wallet address?

No one knows.  Satoshi is believed to have multiple addresses and this article has originally hinted that Satoshi owned about a million Bitcoins.  Bitcoin Rich List does not show any addresses that contain more than 255,502 Bitcoins in any single wallet address (this one belongs to Huobi).  As such, it is plausible that Satoshi has stored his bitcoins in multiple wallets making it nearly impossible to pinpoint to him.  This also supports the theory that Satoshi Nakamoto is not a single person, rather it is a group of individuals or organizations making it difficult to pinpoint to one single person.

What is SatoshiPay?

SatoshiPay is a project that aims to make ‘micro payments’ using Bitcoin possible.  As the name suggests, this project’s aim is to make micro payments in Satoshis.  For instance, you could tip a good article with a few Satoshis.  The fees on Bitcoin network prevent people from conducting micro transactions, however, with lightning network and projects like SatoshiPay, it could soon become possible to spend in Satoshis.

What is Satoshi per byte?

Each transaction on the Bitcoin network requires fees.  This fee is paid in Satoshis.  When you divide this fee in Satoshis by the transaction size itself (this means, amount of bytes it takes to complete the transaction) – you get Satoshi per byte.  This is somewhat a made up measure of unit.

What is Satoshi worth?

If we were to believe the thesis by Sergio Demian Lerner and assume that Satoshi owns around 1 Million Bitcoins (assuming he did not sell, giveaway or lost) then Satoshi’s net worth will be around $9.2 Billion (at the current price of $9200 per bitcoin).

What is the Satoshi test?

You can create signatures from inside Bitcoin Wallet.  When someone claims that they truly own bitcoins in a particular wallet, you could ask them to login to their wallet and ‘execute’ a signature.  This signature then acts as the proof that the person really owns the Bitcoin in that wallet (as those without access to the wallet cannot execute the signature from within the wallet).  Alternatively, you could ask the person to send a few Satoshi’s from the said wallet to another wallet to ‘prove ownership’.  These tests of bitcoin ownership are referred to as Satoshi Test.

How many bitcoins are there?

There will be only 21,000,000 bitcoins of which 18,437,631 bitcoins are in current circulation at the time of writing this article.

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

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Elon Musk Image Source: “jsc2012e041210” by NASA Johnson is licensed under CC BY-NC 2.0


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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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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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spam your inbox and we only send one email per week
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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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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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Crypto News Today #43



breaking crypto news

Cryptocurrency Weekly News

What a week for the crypto bulls to come out!

Bitcoin performed exceptionally well and all the hibernating Crypto bulls spewed their predictions all over the internet.  

The hype frenzy was quite unreal and we are worried about the newbies that might buy into the hype and get in at the peak.

While most hypers were hibernating, we are keeping our calm and tracking the crypto space for the past 4 years.

If you want to see all that contributed (and continues to contribute) to the Blockchain, Bitcoin and crypto adoption – you just have to see the most important news since 2017.

In the spirit of continuing the tradition of keeping up with what matters, let’s dive into this week’s digest!

Brave and Guardian bring Firewall and VPN to iOS

brave-logoBrave Privacy browser that supports the Basic Attention Token (BAT) has partnered with Guardian to bring Firewall and VPN capabilities to the Brave Browser on iOS platform. In an announcement, Brave team disclosed that “with this partnership, the companies are integrating their technologies to enable the fastest, safest, most private Web browsing experience. Brave now offers Brave Firewall + VPN, available for download from the App Store. This partnership allows people to take back control of their own data, browse the Web, and use their apps more safely and securely.”

Ledger market data breach

Ledger Nano S reviewUnauthorized third party access using an API Key has compromised the contact and order details at Ledger.  A total of 1 Million email addresses might have been compromised. According to the official statement “Contact and order details were involved. This is mostly the email address of our customers, approximately 1M addresses. Further to investigating the situation we have also been able to establish that, for a subset of 9500 customers were also exposed, such as first and last name, postal address, phone number or ordered products. Due to the scope of this breach and our commitment to our customers, we have decided to inform all of our customers about this situation.”

Coinbase explores [more] new digital Assets

coinbase best exchangeCoinbase is exploring more digital assets to add to their platform.  These 19 digital assets include, as per the official post,  Ampleforth, Band Protocol, Balancer, Blockstack, Curve,, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC. Obviously, there is no guarantee that all of these tokens are going to be added but it is quite interesting to see some of the good projects making the list.

Putin signs Crypto bill into law

Russia just passed a bill that will allow the companies in Russia to issue digital assets as long as they seek and procure approval from the Bank of Russia.  According to Reuters (translated) “They can be an object of collateral, purchase and sale transactions, exchange of one type of digital asset for another. At the same time, CFAs are not and are not recognized as a means of payment.”

SEC Wants to Start Scrutinizing Binance Chain Transactions

sec crypto regulations“The Contracting Officer has determined that CipherTrace Inc., is the only source that can reasonably meet the SEC’s requirement […].  CipherTrace products are the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network.,” read the official statement issued by the SEC.  This makes it clear that the transactions that people have conducted on Binance assuming they are ‘immune’ from the US government’s scrutiny are going to be surprised by what follows.

Cardano mainnet launched

cardano staking newsCardano has successfully launched its mainnet and introduced its ‘Staking’ phase ‘Shelley’. The entire crypto community has been eagerly waiting for the launch and has received the upgrade quite positively with Cardano (ADA) price coasting at 13 cents. Generally, when the community is not happy with the upgrades and mainnet launch, it tends to show in the negative price action. The stabilizing price movement indicates that the Cardano community has welcomed the mainnet launch.

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

We have been tracking the most important news in blockchain and crypto space since 2017. You can check out all the chronicled news here.  

Consider subscribing to our newsletters to receive these news updates in ONE neat email per week along with other freebies that we give away once-in-a-while.

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

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We never
spam your inbox and we only send one email per week
with updates, news, eBooks, tax updates, and more!
knowledge, not spam!  Subscribe here.

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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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