NEXUS Final Round - Didit - TOKEN2049 Singapore 2024

Hello everyone. I am Alberto. I co-authored Did It. At Did It, we humanize the internet humanize the internet . OK.

We have discovered a very big problem on the internet that is happening right now, and it is very difficult to distinguish what is real and what is not. And this will happen more and more often as artificial intelligence improves. So we have issues with trust and authenticity. We don't know whether we are interacting with a real person or not. We don't know if the content someone creates is real or not.

So there are actually real problems here. Everyone is focusing too much on artificial intelligence, but not paying attention to the consequences of its actions. Therefore, we believe that the solution to this problem is to create a network of verified identities. This way, you can track everything from the very beginning. Content is generated by a verified identity.

This is a person who simply logs into my logs into my website, is a verified identity, etc. How do we do it? We create the infrastructure, everything works in production. So, we have this protocol, which is an infrastructure layer consisting of three solutions. Identity verification is authentication plus data, meaning login plus the future of data transfer, and then we have digital payments.

We get a lot of support from identity verification. So, we took a different approach to identity verification, for example, compared to other competitors, say, Wcoin. We made an orb, and you verify the identity, that is, confirm your identity, proof, uh, um, of identity. We use standard KYC verification and anti- fraud measures; This is a government ID check. We do this for several reasons.

First, we have more data available; As you can see in the video, this is a normal anti- money laundering process, and we collect all this data from the user. And when a user goes through KYC and anti- fraud, then they have this repository of data about their identity, so they can then reuse that data on another data on another website, for example, confirming their age, that they are a human, confirming their name, and other types of data. Hmm, and also we did this kind of government ID verification for, for, identity verification, because there's already a clear market in the market that meets the requirements of such a solution, because there are a lot of fintech because there are a lot of fintech companies and all kinds of companies that are required to integrate the solution. So we're getting a lot of momentum here. Uh, we have a good product, good UIUX, uh, good security, but we're disrupting the market.

We are the only company in the world that provides this for free. So it's a very big incentive for B2B companies to integrate this, uh, identity verification solution, and we're seeing huge, uh seeing huge, uh , demand in every aspect, like fintech in Latin America, uh, in uh, in Southeast Asia, you know, transportation companies transportation companies . So any companies, not just crypto companies, but any companies that need to verify identities. So, we have a product for people. Identity management is very similar to Wallcoin, we need to identify and use the app.

Okay, it's already working. You can download it from the app store. You can go through the verification process. You can manage your identity your identity . You can already transfer, you know, stablecoins.

You can also do some exchanges. Very similar to Walcoin and I believe it is one of the most advanced ID wallets on the market right now. So you can test it. It is still in the early stages of beta early stages of beta testing. We didn't promote it much.

You know, you test with Fuser, understanding its behavior a little. The business model we use to monetize IML KYC verification is completely free, but for checks we monetize data that we monetize on exchanges, and in the future we want to monetize an authentication solution for digital payments, etc. So going to market is a business on board. We are very focused on attracting as many customers as possible. We plan to attract about 10,000 supplier companies next year.

So next year. So , by the end of 2025, we will be among the top three identity providers in the world. Then we're going to significantly incentivize users on the B2C side. We are going to implement a strategy very similar to wallcoin, with two acquisition cycles, mainly where we will incentivize the user to perform certain actions in the D-app to verify their identity, prove their human nature, and then refer others and distribute to other people. Thus, we create quite interesting cycles.

We are currently integrating a loop in App D to simply create this network effect and trying to get as many wcoin-like identities as possible. Honestly, we have walcoin competitors on the cryptocurrency side, and we have you, uh, on the traditional side, they've done a really good job of adapting. Uh, we are the first and only provider of free identity verification on WallCoin. Uh, that's a very big incentive for businesses to integrate it. We are already seeing a huge market fit, and we are already working with the Spanish government.

Uh, both of us , because we're both both twin brothers. Um, we're experts as developers, web3 developers, web3 developers, smart developers, smart contracts, AI developers , before , before , uh, full-stack. Then we have Vector's CFO, Danny, the CMO, and then Louis as the COO, and I don't have any more time. We're doing a round. So, if you're interested, thank you.

This is the end of the presentation, and now it's time for questions and answers for the judges. Thank you. Of course. Hello, thank you very much for the presentation. Hmm, two questions in two parts.

First: is there something inherent in what it creates that makes it more efficient than alternatives and allows it to be free, or is it simply a business simply a business decision to set a free price for its services? And second: what long-term business model do you see? Is this a free way to enter the market and then you start charging for KYC like other companies do, or do you have some bigger play, like with data or some kind of network play? Very good question actually. So, uh, from a pricing perspective, the convergence of the price for verification will actually reach zero.

So we are very efficient. We have a company of 14 employees. We are three developers plus me and my brother. So, we are a very low-cost, uh, very economical organization. We have developed all the technologies ourselves over all these years.

So the costs associated with this verification are almost zero, eh, more when you scale the verification. So we can afford things that competitors can't afford because they have a big team, you know, they've also outsourced some parts of their solution, like facial verification, other kinds of solutions. So we know, and moving on to the second question, we know that we need to penetrate the market very aggressively because it's a red ocean. So there are already big players like Fido, very good players. So our path to market penetration is to have a 10x better product for the price, penetrate the market and build a regime over those few years, because we believe you only have a few years, eh, to build a regime of business and service provider networks and verified identities.

So we are becoming as aggressive as possible and plan to monetize the future, particularly in the fight against fraud. We do not plan to charge a fee for KYC. Good. We have a contract with a service provider where we can give them 12 months notice that we will charge you, but we do not plan to do so. Okay, that's not the idea, the idea is to charge for authentication solutions to combat fraud, and we think there's already a big market for that.

Hmm, do you have any communication channel outside of the app communication channel outside of the app , um, uh, are you planning to integrate with some existing social networks or somewhere else? Hmm, so people can see if personal data has been verified? Maybe not something as big as Twitter, but something smaller or local in Spain or something like that . Just curious how you view the use of identifying data outside of your app. Yes, completely.

So we have already engaged three companies as identity verification service providers. So you can do KYC and anti- fraud. We've already done this outside of done this outside of any other app, fintech app, everything fintech app, everything . We also worked with Orange. We collaborated with them, one of the largest Telos in Europe.

We partner with the world's largest hotel services provider, a five billion hotel bed company. So we're already starting to implement many use cases for this shared identification. We did it. I believe the first use cases on other websites from other vendors will be identity verification, as there is already a market for that. I think now, with the introduction of regulations like ADAS 2 in Europe and all these regulations around identity, we're going to start doing more authentication, for example, as an identity provider, ADAS 2 login, you know, this solution is already available on some websites.

But I think the clear roadmap from a company efficiency and resource perspective is to first verify identity, get as many companies involved as possible, and then build on other types of infrastructure-level solutions infrastructure-level solutions that we have, authentication and payments, etc. Are the other companies you mentioned, such as ID, currently outsourcing parts of their solution, or are they also fully in-house? I believe that the largest companies do everything themselves. The largest, "unicorns The largest, "unicorns ". Uh, the smaller ones, they outsource a lot, but, uh, the larger ones, if they internalize everything, they have about 100 engineers.

I mean, you don't need 100 engineers need 100 engineers to build this product. Good. And we have, at the last minute, maybe one or two questions, if we have time. So, you mentioned making money fighting fraud. How exactly does this work?

Yes. So ultimately, it's just an API, okay, uh, we have access to 200 datasets in real time. You have a dataset, like the FBI dataset, the Mexican Treasury Department dataset, you know, all these datasets, negative media alerts, and then you just give a score from 0 to 1 for this name with this date of birth and this country, what is its risk rating, and then the potential missed opportunities. It's just like, "Yeah, maybe it's a scam, or maybe it's a terrorist, or maybe it's a political athlete political athlete , and who's paying for it?" That's right.

So, usually, uh, fintech companies, like fintech companies, like , uh, every time you do this on board, they, uh, have to go through not only KYC, but also money laundering but also money laundering . But there are companies that only want to implement KYC, so only fintech companies, for example, are involved in money laundering; not all companies, they, they do it. Okay, thank you, okay, thank you. Thank you.