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Blockchain Verification Technology Solution Accredify Completes $7 Million A-Round Financing

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According to reports, Accredify, a blockchain verification technology solution headquartered in Singapore, announced the completion of a $7 million A-round financing, led by iGlobe

Blockchain Verification Technology Solution Accredify Completes $7 Million A-Round Financing

According to reports, Accredify, a blockchain verification technology solution headquartered in Singapore, announced the completion of a $7 million A-round financing, led by iGlobe Partners and SIG Venture Capital, who had previously invested in the company’s Pavilion Capital and Qualgro. Accudify utilizes the underlying use of blockchain technology to ensure the authenticity of shared or received files, prevent fraud and forgery, such as verifying fake degrees and certificates. The company can also help businesses create customer identities, wallets, or file storage on blockchain (currently mainly in Ethereum), ensuring that business data is verifiable.

Singapore’s blockchain validation technology solution, Accredify, completed $7 million A-round financing

Accredify, a Singapore-based blockchain verification technology solution, announced the completion of a $7 million A-round financing, led by iGlobe Partners and SIG Venture Capital. The investors are not new to Accredify, having previously invested in the company’s Pavilion Capital and Qualgro.

What is Accredify?

Accredify is a blockchain-based technology that ensures the authenticity of shared or received files to prevent fraud and forgery. The company can help businesses create customer identities, wallets, or file storage on blockchain, mainly in Ethereum, ensuring that business data is easily verifiable. Accredify makes it easy for businesses to manage certifications, credentials, and licenses on-chain.

How does Accredify work?

Accredify utilizes the underlying use of blockchain technology to verify fake degrees and certificates, preventing fraud and forgery. It uses smart contracts to store and manage shared files and transaction records. Accredify keeps track of all activities on the blockchain, providing an auditable trail that is easily verifiable.

Why is blockchain important?

As more businesses move online, there is a growing need for secure and reliable digital identification and verification services. Blockchain technology provides a tamper-proof and decentralized platform for storing records, making it harder to hack or manipulate data.

What are the benefits of using Accredify?

Accredify’s blockchain verification technology solution offers several benefits to businesses, including:
– Increased transparency and accountability
– Secure data storage and sharing
– Reduced fraud and forgery
– Lower operational costs
– Increased efficiency and productivity

Who can benefit from Accredify?

Accredify’s blockchain verification technology solution can benefit a wide range of industries, including:
– Healthcare and life sciences
– Education and training
– Government and non-profits
– Financial services
– Legal services
– Logistics and supply chain management

What are the potential use cases for Accredify’s technology?

Accredify’s blockchain verification technology solution has several potential use cases, including:
– Verification of diplomas, certifications, and other credentials
– Tracking of supply chain activities
– Creation of tamper-proof records for legal and regulatory compliance
– Digital identity management
– Online voting and polling systems

What does the future hold for Accredify?

Accredify’s $7 million funding round is a significant milestone for the Singapore-based blockchain verification technology solution. The company plans to use the funds to expand into new markets and scale up its operations. With the growing demand for secure and reliable digital identification and verification services, Accredify is well-positioned to capitalize on the global blockchain trend.

Conclusion

Accredify’s blockchain verification technology solution enables businesses to ensure the authenticity of shared or received files, preventing fraud and forgery. It offers several benefits, including increased transparency, secure data storage, reduced fraud, lower operational costs, and increased efficiency. Accredify has potential use cases in various industries, and the company plans to expand into new markets and scale up operations using its A-round funding.

FAQs

1. How does Accredify prevent fraud and forgery?
Accredify uses smart contracts to store and manage shared files and transaction records, providing an auditable trail that is easily verifiable.
2. Which industries can benefit from Accredify’s technology?
Accredify’s blockchain verification technology solution can benefit a wide range of industries, including healthcare, education, government, financial services, legal services, and logistics.
3. What are the potential use cases for Accredify’s technology?
Accredify’s blockchain verification technology solution has several potential use cases, including diploma and credential verification, supply chain tracking, record keeping for legal and regulatory compliance, digital identity management, and online voting and polling systems.

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