Full-service investment company Genesis Block Ventures (GBV) announces an investment in Verida. Genesis Block Ventures would support the development of the self-sovereign data technology platform to enable global users to own and control their data.
Verida develops decentralised, self-sovereign data technologies for developers, the private sector, governments and citizens, empowering them to easily build self-sovereign applications where users own all their data in encrypted form.
Verida aims to help people obtain ownership and control over their personal data, incentivizing them to unlock their data stored on centralized platforms, and enabling developers to access the data for new exciting use cases. Verida is enabling a new era of “hyper-personalization” by unlocking personal data to transform everyday life.
Verida creates an open-source library, Verida Datastore, that enables decentralized applications to be built where users can own, control, and store their data using private encryption keys. The library provides decentralized single sign-on, consensual data sharing, and profile management with tight integration with its free-to-use application Verida Vault. Additionally, Verida offers a collection of enterprise APIs that enable enterprise software to easily connect to the Verida decentralized ecosystem.
With a mission of building the future through blockchain technology, Genesis Block Ventures has invested in some of the most prominent blockchain startups, making sure that these projects achieve success through strategic partnerships and guidance. Over the years, GBV has added to its portfolio many renowned projects, including OMG Network, Serum, AstroTools, Alkemi Network, Alpha Finance, Manifold, Litentry, to name a few.
What impresses us most about Verida is their vision and technological capability to build self-sovereign applications. Verida has developed multiple decentralized applications that showcase the power of the Verida technology, covering areas such as COVID19 credentials and health record management.
Within a short span of time since inception, Verida has established a strong partnership with Andreessen Horowitz-backed decentralized application (Dapp) platform NEAR Protocol. It is also part of the Open Web Collective, a platform-agnostic program that helps teams building the decentralized web to accelerate their progress and gain access to leading investment firms.
“Verida successfully innovates in the data technology arena – giving individuals control over how they interact with the digital world. We look forward to contributing to Verida’s further progress to develop the future of decentralized data!” – Leslie Tam, Genesis Block Ventures’ Co-Founder and Partner.
Verida began as a research project in 2018, with the mission of helping people own and control their data.
The team creates architecture for decentralized data ownership and control combining the best of traditional database technologies and decentralized identity standards. This work resulted in the release of the Verida testnet in 2020, providing an open source library for developers to easily build interoperable self-sovereign dApps where users own, control, and store their data using private encryption keys anchored by public blockchain.
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.