Key Highlights:

• Zain Zaidi established TransCrypts, a startup devoted to verifying employment records, after nearly losing his graduate school spot due to a documentation issue.
• The company expects to expand its services to include the verification of medical and educational records, generating approximately $5 million annually.
• At CoinDesk’s PitchFest at Consensus Hong Kong, TransCrypts won $10,000 in tokens, a trophy, and ten mentoring sessions.

Four and a half years ago, Zain Zaidi faced an administrative problem while applying to graduate school:

“My academic transcripts were lost, and I almost lost my place.” (Translation: I faced a severe issue that jeopardized my academic future.)

This experience motivated Zaidi to create a platform that helps individuals and companies validate credentials easily. Instead of attending grad school, he launched TransCrypts, which works on putting employment verification on the blockchain.

Zaidi believes that without the ability to validate personal data, individuals lose a part of their identity.

“We as consumers can’t actually verify who we are…” (Translation: It is vital to have control over our identity and personal data.)

TransCrypts has already achieved significant revenue markers and is set to broaden its scope into more rigorous data verification avenues.

In the competition, the runner-up was CredShields, an automation platform that enhances security protocols for smart contracts.

The event was presented by Dimitra, a toolkit for small farm owners.