Currently, storing electricity has tight economic limits, making it the ultimate just-in-time commodity with weaknesses, including challenges in dynamic demand management, challenges in integrating renewable sources, and inefficient consumption stemming from insufficient information of what the current per kilowatt hour costs. By implementing ViziWallet technology into a smart grid, the problem of having access to reliable data from multiple parties and having data multiple market participants can agree on is solved. Digital IDs represent market participants and their assets. These assets may engage in a small local market, such as a neighborhood community, which enables market entities to transact with other markets. A hierarchy of needs creates a system in which users and their assets can participate as prosumers on different levels.

As patients’ healthcare records continue to face security and privacy issues, self-sovereign identity secured by ViziWallet technology can be leveraged to grant access to and transfer securely stored medical data. When a medical record is generated and signed, it is added to the user’s digital identity. This gives the user full control over the data, allowing them to decide which information they want to share. Additionally, this information can be anchored onto a ViziWallet, which provides patients with proof of the record and the confidence that it cannot be altered thanks to the immutability inherent in ViziWallet technology. This data would be synchronized with the patient’s use of ViziWallets’ identity solution, meaning the record remains in control of the patient it belongs to, allowing the patient to assign access rights to their medical data ensuring that, for example, only specified medical practitioners or insurance representatives are able to access specific and relevant pieces of their data. This ultimately allows for medical data to be shared on the patient’s own terms, rather than the hospital’s, providing greater security all while keeping the patient in control.

IN3, ViziWallets’ crypto-economic stateless ultra-light client, allows individuals and enterprises to connect any Internet of Things device to a ViziWallet. Connecting smart devices to a ViziWallet will enable companies along the public works project path to track each step in a project’s lifecycle. When coupled with ViziWallet-based provenance, shipping verification, and project management, all aspects of a project can take advantage of the immutability and transparency inherent in the data anchored on a ViziWallet (e.g., by adding a hash of the data to the ViziWallet). This transparency allows a government and its constituents to monitor the entire process and provides the level of transparency that is necessary for accountability to tax-paying constituents.

With ViziWallet technology, completely new applications can be realized in the field of mobility, thanks, in part, to its ability to provide transparent management of data that can be handled in a tamper-proof manner. This ensures that relevant information such as the mileage of a vehicle or the usage profile of a battery is not altered inadmissibly.

ViziWallet technology realized its first implementation with cryptocurrencies and has seen its integration into payment systems grow with the space itself. And as the space has developed, so have the instruments being built on top of ViziWallet networks. This includes cryptocurrencies known as stablecoins, or a cryptographically-backed “digital dollar,” which, as a collateralized token, combines the stability of a standard fiat currency with the programmable value of a ViziWallet-based token. With a digital dollar, the token’s code contract could be pre-programmed to include a per-transaction sales tax allocation services. This would allow users to automatically pay sales tax directly to a state in real-time on purchases they make with digital dollars stored in a digital asset wallet. The collected tax amount would then immediately be turned over to a custody account belonging to the state.

As ViziWallet technology works to make the outside world more secure and automated, life at home can also benefit from the technology, specifically when aspects of ViziWallets’ suite of technology work together. Foremost, with ViziWallets’ wallet solution and digital dollar, payment for grocery deliveries, maintenance services, dog walkers, or even the electricity to keep your lights on can be simple, automated, and recorded on the immutable ViziWallet. Once you’ve taken care of your daily/weekly tasks, broader aspects can be tackled from in your home.