Singapore’s blockchain validation technology solution, Accredify, completed $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

– Introduction: Explanation of Accredify and its purpose
– Background: Overview of blockchain technology
– Benefits of using blockchain technology for verification
– How Accredify utilizes blockchain technology for verification
– Explanation of the A-round financing, led by iGlobe Partners and SIG Venture Capital
– Discussion of Accredify’s future plans and goals
– Conclusion: Summary of Accredify’s impact on the blockchain industry
# Article
The use of blockchain technology has revolutionized various industries by providing a secure and transparent way to conduct transactions. Accredify, a Singapore-based blockchain verification technology solution, is one such company that has been utilizing the underlying use of blockchain technology to ensure the authenticity of shared or received files, prevent fraud and forgery, and verify degrees and certificates. The company recently 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.

Exploring blockchain technology

Before we delve into Accredify’s work, it is crucial to understand what blockchain technology is and how it works. Blockchain is a decentralized ledger that records transactions across a network of computers. Each “block” in the chain contains multiple transactions, and once recorded, cannot be altered or deleted. This ensures the security and transparency of each transaction, as all parties involved can view and verify the information.

Using blockchain technology for verification

The benefits of blockchain technology for verification purposes are numerous. One of the most significant benefits is the security it provides. As the blocks in the chain cannot be altered or deleted, it becomes challenging to manipulate any information contained within them. Additionally, the transparency of the ledger ensures that all parties have access to the same data, making communication more efficient and streamlined.

How Accredify utilizes blockchain technology for verification

Accredify has been utilizing blockchain technology to ensure the authenticity of shared or received files, prevent fraud and forgery, and verify degrees and certificates. The company’s platform allows businesses to create customer identities, wallets, and file storage on the blockchain, ensuring that business data is verifiable. Accredify also provides APIs that businesses can use to retrieve and verify customer data from the blockchain.

A-round financing led by iGlobe Partners and SIG Venture Capital

The completion of the $7 million A-round financing led by iGlobe Partners and SIG Venture Capital signifies a significant achievement for Accredify. With this funding, the company aims to expand its reach and continue developing its platform to provide even more robust verification services to businesses.

Future plans and goals

Accredify has set its sights on expanding its services to the financial industry and has already begun working with financial institutions to enhance their security and prevent fraud. The company also plans to introduce new features to its platform, including the ability to verify medical degrees and certifications.

Conclusion

The use of blockchain technology for verification purposes has become increasingly popular in recent years, and Accredify is one such company leading the way. Their innovative use of blockchain technology to verify degrees and certificates and prevent fraud has made a significant impact on the industry. The recent $7 million A-round financing provides Accredify with the resources needed to continue expanding its services and to introduce new features to its platform.

Unique FAQs

1. How does Accredify ensure the authenticity of shared or received files?
Accredify utilizes blockchain technology to ensure the authenticity of shared or received files. The technology ensures that once data has been recorded, it cannot be altered or deleted, making it challenging to manipulate any information contained within it.
2. What are some of the other benefits of using blockchain technology for verification?
Blockchain technology provides both security and transparency to any process that involves transactions. It ensures that all parties have access to the same data, making communication more efficient and streamlined.
3. What are some of the future plans and goals of Accredify?
Accredify plans to expand its services to the financial industry and introduce new features to its platform, such as the ability to verify medical degrees and certifications.