Verida
Crypto Overview
Overview
Verida is a decentralized protocol that aims to enable users to own and control their personal data across applications. The VDA token serves as the utility and governance token for the Verida ecosystem.
Purpose and Utility
The stated purpose of VDA is to facilitate data ownership and privacy through the Verida protocol. It is used for network governance, incentivizing node operators, and paying for data storage services. The current usage appears to align with these intended purposes.
Business Model Analysis
The business model focuses on providing decentralized data storage and management services. This aligns with halal principles as it provides clear utility through legitimate technological services and doesn't involve prohibited activities like interest-based lending or gambling.
Platform Development
The project shows ongoing development activity with regular GitHub updates. The team has released multiple versions of their SDK and continues to build infrastructure for decentralized applications.
Token Distribution
The token distribution includes allocations for development (30%), ecosystem growth (25%), team and advisors (20%), and public sale (25%). Team tokens have vesting periods extending over several years, indicating long-term commitment.
Revenue Model
The protocol generates revenue through legitimate service fees for data storage and network operations, which is permissible under Islamic principles as it represents payment for actual services rendered.
Crypto Impact
To assign a comfort level investing in Verida from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Verida.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.