NEXUS Startup Competition Pitch - Didit - TOKEN2049 Singapore 2024

well hi everyone I'm Alberto I'm the C of didit and uh actually didit our goal is to humanize the internet okay I'm going to explain you why we do that and how we are doing it so we detected a very big problem on the internet and is that every time is getting difficult to detect uh what is real and what is not especially when you when you're interacting with someone you don't know if interacting with an AA agent you don't know if you're interacting with a human and this is going to get worse over time the content that is being generated has been generated by a human or it has been generated by a by a model so uh we believe uh internet is going to suffer a lot of problems of trust onity uh regarding this issue and we need to put uh somewhere the solution on that because everyone is focusing a lot on AI but not on the consequences of having this uh intelligence floating on the internet so what we are doing is building a big network of verified identities we believe this is the base the root uh solution of uh of the problem mention uh above so um we are giving tools as well to service providers uh to identify who the user is connecting to their website to verify the identity know more data about the user and also um way more tools that we're going to explain now so we have been building this product for almost 3 year now uh we are an infra uh layer for B2B so any company can integrate any of this solution onto their onto their service and to their platform uh we have identity verification solution that we're going to explain now we have the outp data solution which is authentication and data transfer one and then we have digital payments we are getting huge struction on identity verification um it is a KC and anti-money laundering uh solution uh typical onfido ver all these kind of provider that you know for KC solution we said okay we're going to develop a product like this we're going to improve it on the user experience side we're going to add more features like uh reusable credentials you know all this kind of stuff and we're going to break the market we're going to make it free because we are humanizing into the internet obviously so we are giving for free document verification and facel recognition so the base of the kyc we started the strategy last month we are seeing huge traction already which is normal the incentive is very big normally companies pay around $1 for verification now they are paying zero so we are seeing huge traction coming here more than 30 companies on boarded on the first month alone so now we are scaling our sales team and we are monetizing on the AML screening part so we are charging only for the AML part um doing that let's see if the video works yeah so this is our solution is on the is on production is being integrated in a lot of customer currently so yeah typical solution of Kon laundering very nice user experience uh very nice security behind it a lot of AA model running on the back and totally free so is a game changer on the industry and we plan to break uh this market so um as you realize uh if we want to plan to build the biggest network of identities uh the human has to have some capabilities to log in to send data and over so we have developed the ddap which is available on the App Store you can download it is still in early beta okay and we have uh two part we have the ID part and we have the app part and we have the wallet part okay it's very similar to wall coin actually we have the protocol we have the ID part and we have the app actually we took a lot of inspiration from them the difference is mainly our availability of data so like w coin proves uh uniqueness and humanness on the internet we prove like many more verifi data so our identity data is huge and the human can use it to to to transfer it to any service provider we have also the wallet part which is a very nice wallet infrastructure where you can send money and you can do swaps and total long custodial manner uh very interesting one you can try it but the idea is that we are trying to get the biggest Network by leveraging B2B distribution giving for free the product so getting the biggest Network as possible of service provider and humans and then growing is as as fast as possible because we believe there is a um emergency to build a mode in the coming year year and a half and we are getting too aggressive with that so we're going to be running a token acquisition strategy here similar than wco coin did with referals another another adquisition strategy for for the DAP and is coming in the Q4 q1 so how we win money obviously K is for free we earn 25 cents for the anti-money laundering part on the DD tab we earn some fee on the commission and then we're going to earn future revenue on different solution like did it plus out Plus data solution or the payment solution our goto Market we are very focusing on business on boarding now is our Focus we believe we continue this way we're going on board like a thousand companies by the end of 2025 so we're going to be a top provider in the wall of identity we also then we're going to focus on the user adoption so we going incentivize user to use application F data and use it everywhere this our second phase and then establish this utility and being building this mode so so so everyone use the app So currently we have been using the DD plus out outp data solution we had more than 200k users on that we are working with the government in Spain testing our identity infrastructure then last month we started the fre strategies we're on boarding 30 companies first month alone we have just launched the D app you can look at it on the Apple Store uh we didn't add the adquisition loop is still in early beta but we're going to start promoting it on C4 q1 with a very aggressive strategy and competitors we have W coin obviously they are doing an an amazing job then we have yti and adme which are private companies that are more focusing on the business on boarding site not not much on the on the b2c on boarding but both like all those the three companies have an identity wallet so our competitive Advantage mainly is that the first and only one that does free KC in the world okay and this is a very big incentive for companies that need to do their kesian anti money laundering because they are doing for free with a very nice product then we are very well positioned on Europe we have a government approval there we are working with them you know and we can expand very easily abroad internationally later and we have a lot of experience on web 3 so uh my T brother Alejandra and I are both Coos we are both full stack developers uh ector who is here as well is our CFO uh Danielle our CMO and Luis our operation guys so pretty much that's it we are currently raising 5 million for our run is equity plus warrant one uh run and uh happy to answer any question on the first slide or one of the slides I saw that you had 200,000 people do kyc I'm curious how you got those first 200,000 kyc users yeah the 200,000 was on out Plus data solution so is authentication plus sending some data for instance in this case was a metaverse product that integrated it so they connected the Twitter link to Twitter and use authentication with Plus outp data solution but not KC directly just authentication and data transfer so are you guys um doing all the kyc stuff yourself or are you using any third partners for anything so we are doing everything from a scratch ourself all the models on the back the product we put together everything so that's one of the reason why we can lower the cost to zero almost zero because we are very efficient on the technological side and we are also very efficient on the on on the team side we're only like five developers on the team we are 14 people on the company so so yeah everything is is is prop okay and there's there's certain regulatory obligations you have to fulfill with that right or are you like are you like certified or something like this so you can provide the kyc services for for for projects like you have to keep records for a certain number of years and things like this yeah depending on the country it changes a lot uh especially on Europe uh well we are 20 ISO 271 comp certified so we got a certification three months ago we are gdpr compliant on Europe we have all this kind of certification to be able to operate very easily on Europe and on certain countries as well uh every country has their own kind of requirements but for instance in Europe you you need to keep the data at least six months you know or this kind of requir we are filling everything we have a good legal team and depending on the country we are operating uh differently and okay and then you work with businesses and they basically get their users to kyc through that and then you kind kind of own the the user to some extent or you able to what data do you collect on the on the users totally so first of all we store all the data okay so we are the kyc provider for these uh B2B companies and then what we are doing is funneling these uh these identity verifications so the distribution of this B2B to download the DAP we are still on the process of feling correctly so they create their identity you know they can reuse it later just with one click and so on but the main goal is the B2B identity verification is funnel for distribution and because the cost is very low we can give it for free in the process we humanize the internet okay um going back to the original problem statement a little bit uh about like uh eventually being able to solve solve for like fake generated content online whatever um yeah like even with an Global identity layer that's generally trusted like do you think it's feasible to like know if something on Twitter was fake or like some not actually someone speaking something like where does is there a mapping there you get from Identity to that or is that still just going to be unsolved I think espec misinformation and manipulation front yeah I think specifically for uh misinformation there is kind of great tools like Community nodes on Twitter that are doing a a great job actually for doing that I believe if you are able to track who is the originator of the misinformation is going to be less misinformation and if the people giving feedback on on the Govern governance layer on the community nodes for instance then you can have more trust and assurance that this a specific content is true or not you know I I think at the end it's going to is the summary is going to be trust score so it's going to be a kind of trust score of someone and you're going to do some algorithms depending on that awesome thank you thank you