Public Launch and Funds for Personal Data Management Network Veriglif

May 23, 2019

Veriglif, a “Personal Data Network,” has announced its official public launch with 10 network partners and access to over five million consumer datagraphs, as well as achieving significant fundraising milestones. The company is focused on unlocking value for buyers, sellers, and creators of personal data globally.

In order to make good decisions and satisfy the ever-changing preferences of consumers, millions of companies around the world collect and analyze a staggering amount of personal consumer data every day and demand is increasing every year. However, major issues around quality, privacy, transparency, efficiency and delivering a fair value exchange to all involved have been roadblocks to maximizing value creation for stakeholders.

Additionally, the challenges associated with collecting and analyzing personal data are increasing due to privacy legislation like the EU’s GDPR. Due to growing concerns, many large companies such as Google and Facebook are already running into problems with their business models. What this means is that there are significant demands worth billions of dollars for verified, accurate, and permissioned consumer data that meets the requirements of increasingly stringent privacy legislation.

There is no existing platform that offers validated, privacy-compliant data linked to the same consumer across multiple suppliers that also pays incentives to the consumer. It's critical that businesses have access to accurate privacy-compliant data to make important decisions. Veriglif is the answer to these challenges. Now the company is coming out of stealth mode and beginning a rapid ramp up for full commercialization.

Veriglif is built on a private, distributed ledger solution called Hyperledger. For nine months they have been working with IBM and over 100 leaders in the marketing insights and analytics value chain to design and build a supply chain management and transactional processing network based on a tech stack that incorporates IBM’s Hyperledger protocols to enable the execution of smart contracts at scale; Veriglif aims to allow for both consumers and data agents (the functional role of their network members) to control all aspects of transactions using their data assets.

However, Hyperledger is only a part of the solution; the other technology components are a series of automated API integrations, an AI-driven data inventory solution, and a transactional processing portal.

At its core, Veriglif is like Visa or Mastercard for personal data, enabling secure high-volume transactions of permissioned personal data across the network so that participants can make more money, reduce inefficiencies, and reduce risks associated with increasing privacy legislation.  Veriglif supports the existing ecosystem to do what it does, but better. They power significant improvements to targeted surveys, data augmentation, audience analytics and efficient one to one marketing.

And it’s not just based on opinion data; the platform can validate, link, inventory and transact any permissioned data at the individual level; IoT, behavioral, passive, transactional, geolocation, social media, etc..  All while ensuring network participants have full control over the who, what, why, when, where, and how of each and every transaction using their data.

The company has raised $464,000 from early-stage investors and has just launched an equity crowdfunding campaign via WeFunder to finish the work and get Veriglif to market while creating an opportunity for more people to benefit from its model.

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