On a rainy day in Geneva, Procivis AG CFO, Yves-Alain Petitjean was hosted by Product Hunt Geneva at the Impact Hub to present the company’s latest project, VALID. The event attracted an audience of over 60 people and was also livestreamed to an online audience through sli.do.
The presentation focused primarily on the future of blockchain based digital identity. Yves explained that VALID may be seen as a natural successor to Procivis’ eID+ government solution, putting the company on course to achieving its vision of empowering users with fully self-sovereign digital identities. Enabled by blockchain, VALID would make it possible for users to construct a digital identity and have their claims attested by trusted third parties such as NGOs, supranational organisations, or even social media platforms. This marks a paradigm shift from the status quo, eliminating the dependence of users on governments to obtain a recognised identity.
The presentation was received with great enthusiasm which was marked by the extended Q & A session. When asked about VALID’s choice of digital identity protocols, Yves stated that Sovrin’s approach which enables verification by non-private actors such as governments, NGOs, supranational organisations aligned with VALID’s vision of emerging as a solution that facilitates the inclusion of the 1.1 billion global citizens lacking a government issued identity. He further added that VALID is constantly on the lookout for digital identity protocols which could support the VALID vision. This is marked by the company’s recent decision to explore the potential to integrate NEO’s native digital identity protocol into VALID.
From Valid/Procivis’ blog: https://blog.valid.global/valid-on-the-road-product-hunt-geneva-594056b4da67
With Yves-Alain Petitjean, CFO & Cofounder @ Valid (Procivis) https://valid.global
**Val:ID*** is taking personal data management to the next level.
Just as the information in a passport identifies its holder for specific purposes, a digital identity, in its simplest form, is an online proxy for a real individual. It can be used to identify the individual for many more purposes in our digital age than would be possible with just a paper-based passport. These attributes can represent the obvious: given and chosen attributes such as name, last name, passport number, address, along with other demographic data. Less obvious digital attributes are preferences, opinions and attitudes (psychographic data). Collectively, this information can be used to create a profile of a person, with varying degrees of certainty, or level of assurance (LOA), that indicates whether a particular person is indeed who they say they are, thereby allowing the holder of that identity access to services or resources at a physical location or online. The more strongly these attributes can be verified and linked to the real person, the more valuable such a digital identity can be to the citizens who opt to use it and to the parties who rely on it, and thus to the entire identity ecosystem.
**Val:ID*** is taking personal data management to the next level. At the core is a user-controlled digital identity solution allowing people to transact online securely and seamlessly while safeguarding all their sensitive personal data. Furthermore, Val:ID can directly connect users with data consumers such as product and service companies, brands, researchers and advertisers. With the Val:ID wallet, users can directly and easily start monetizing their personal data in a fully secure and controlled fashion on the Val:ID marketplace. In return, data consumers gain direct access to reliable, anonymized data in a compliant and cost-efficient way.
Yves-Alain Petitjean – Co-Founder & CFO
Yves is a UCLA Andersen School Alumni and began his career at UBS in Zurich. With UBS he started an international career as an M&A Associate in New York and later in Singapore. Afterwards, he returned to Europe, where he joined Santander’s CEO division in Madrid. Following the acquisition of Abbey by Santander, he was recruited in 2007 and joined the ranks of Cerberus Capital’s M&A team in London. In 2010, Yves took a new direction to manage the large direct investments of two Family Offices. He joined forces with Procivis’ original Founder, Daniel Gasteiger in October 2016 as acting CFO of the Company.