Public Launch & Funds for Personal Data Management Network Veriglif

NEW YORK, May 23, 2019 /PRNewswire-PRWeb/ -- Veriglif, the world's first Personal Data Network, has announced their official public launch with ten network partners and access to over 5 million consumer datagraphs, as well as achieving significant fundraising milestones. The company is focused on unlocking value for buyers, sellers & 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 single day. This demand is increasing every year. However, major issues around quality, privacy, transparency, efficiency and delivering a fair value exchange to all involved for its usage have been roadblocks to truly maximizing value creation for all stakeholders.

Additionally, the challenges associated with collecting and analyzing personal data are also increasing due to privacy legislation like the EU's GDPR. Due to growing concerns many very large companies such as Google and Facebook are already running into very big 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.

In describing their founding, CEO James Wilson said, "For years, our team has spent a lot of time thinking about these issues, talking to key leaders about it, reading what others have to say, and closely following all of the government and private business approaches being launched to try to address these concerns. We have been reverse engineering a dedicated solution to this very significant opportunity. Our founding team of 11 industry professionals have a detailed behind-the-scenes understanding of this problem, and what the solution needs to be. Veriglif will fundamentally change how the world deals with individual-level data."

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 & 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 the 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 inefficiency and reduce the 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 more 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.

This scale, quality, and depth of fully permissioned individual consumer data will be unrivalled and helps change the data-driven insights and marketing industries in many ways. Already major partners are working to bring in CRM and AdTech data resources to connect into the network, and Veriglif has line of sight now into their ultimate vision: powering the world's largest sovereign identity-based consumer data ecosystem.

Chad Andrews IBM Global Solutions Leader, Blockchain offered his view on the Veriglif approach: "I think Veriglif is completely on the right track in terms of creating a shared business network that has on one end the integrity of the consumer (and the value shared by the consumer) but also the ability to federate in a way that is compliant and fair and transparent for essentially what really matters, which is to improve the outcomes of creating better products... ...on one end [they are] making the data more effective and on the other side [they are] making it more transparent and compliant."

The company has successfully raised $464,000 to date 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 more opportunity for more people to benefit from their model. For those interested, the investment site can be found at https://wefunder.com/veriglif

About Veriglif:

Veriglif is a New York, NY based technology solution provider with a global team that allows various consumer data stakeholders (collectors, sample providers, buyers and consumers) to connect and transact. Veriglif does not directly compete with anyone in the existing research, data and insights ecosystem. They are the digital connective tissue, a 'network of networks', that allows consumer data to be verified and exchanged with full permission for mutual benefit of all - most importantly for the consumer.

SOURCE Veriglif