DigiByte (DGB) Price Pumps 21% On Social Media ID Verification Partnership

DigiByte (DGB) marched to steady 21% gains throughout Wednesday as news filtered through regarding a new blockchain business partnership.

DigiByte has teamed up with Netherlands-based company V-ID to create an ID verification tool that spans all of social media. This follows on from similar recent moves by DigiByte, which recently launched Digi-ID – a blockchain alternative to Google Authenticator and Authy.

Partnership Tease Helps DGB

The Chief Marketing Officer of DigiByte, Rudy Bouwman, had been flirting with V-ID on Twitter for the past week. No official announcement was made until Wednesday, however Bouwman retweeted the following tweet from the Dutch company on June 13th, teasing some kind of upcoming collaboration:

After the press release went out, Bouwman sent out this tweet celebrating the news:

“The DigiByte Awareness Team #DGBAT is excited to announce the creation of ‘DigiByte Veritas’, a partnership between @v_id_blockchain and @DigiByteCoin to validate and verify the authenticity of profiles and media on LinkedIn, Twitter, Facebook, Youtube and other online platforms.”

Bouwman went on to reference recent developments such as AntumID – a browser based DigiByte login security tool. Also recently released was Digi-ID, described as “the blockchain-based cryptographic solution to handling user authentication.”

Bouwman posited that online imposters is one of the biggest problems on the internet. In the age of paid trolls and shills, that’s probably true. Bouwman wrote:

“Biggest problem: Imposters on LinkedIn, Twitter etc. With @v_id_blockchain and @DigiByteCoin we can validate online profiles. Everyone can verify authenticity on our website or using @ANTUMID browser plugin. #DigiByte Veritas label must be the standard for validated profiles!”

Useful for DigiByte Founder

DigiByte’s own founder and CTO, Jared Tate, will have immediate use for the fruits of the new partnership. According to Tate, Twitter has yet to verify his own social media account. Tate wrote:

“Awesome news! Can’t wait to finally use the #DigiByte #blockchain @v_id_blockchain to verify myself here on #Twitter since @twitter @verified refuse to do it.”

On Wednesday the DigiByte marketing team also celebrated news of DGB’s addition to the BitFi crypto wallet. BitFi’s unique quirk is in letting users secure their funds using a memorable phrase of their choice, rather than 24 random seed words. DigiByte’s Jared Tate tested out the wallet, noting that he “sent the funds to his brain”, and that no one else has the power to take it:

“It is truly amazing to know I can send 1 million USD worth of $DGB to my brain w/ @TheBitfi & no thief, hacker or government could take it from me since it only exists in my mind. This is the real definition of financial liberty & the true power of a #decentralized #blockchain.”

DigiByte Price – DGB/USD

DGB’s growth was slow and steady across Wednesday, rising from $0.012716 up to $0.015431. That equated to 21% growth, and marked DGB out as the top performer from the top-100 on the day.

The highest concentration of trades came from the U.S-based Bittrex exchange, where the DGB/BTC pair accounted for 27% of the coin’s $3 million daily volume.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. Chart via CoinMarketCap.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.