VIDT DAO
Crypto Overview
Project Overview
VIDT DAO (formerly V-ID) is a blockchain-based validation platform that aims to protect digital assets against fraud and manipulation. The project's core technology allows for the creation of unique digital fingerprints for files, which are then stored on multiple blockchains.
Intended Utility
The VIDT token serves multiple purposes within the ecosystem: it's used as payment for validation services, for governance voting within the DAO structure, and as a reward mechanism for validators. The platform primarily targets industries requiring document verification, including education, art, and logistics.
Actual Utility and Adoption
The project has demonstrated real-world adoption through partnerships with organizations like AmSpec and CMS Law, who use the validation technology. The platform processes thousands of validations monthly, indicating active usage of the intended utility.
Token Distribution and Governance
The project transitioned to a DAO structure in late 2021, with token holders having voting rights on protocol decisions. The token distribution appears relatively decentralized, with no single entity holding a controlling stake. There are vesting schedules in place for team allocations.
Development Activity
The project maintains active development, with regular updates to the protocol and infrastructure. The GitHub repository shows consistent commits, and the team provides regular technical updates through their communication channels.
Revenue Model
The platform generates revenue through validation fees paid in VIDT tokens, which is a straightforward and transparent business model that doesn't involve interest or prohibited activities.
Crypto Impact
To assign a comfort level investing in VIDT DAO 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 VIDT DAO.
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.