Question 1

Hello, does your product meet the requirements of the eIDAS Regulation of the EU?

Accepted Answer

Hi Peter, That is a great question! Our product is both eIDAS and ESIGN compliant and meets the requirements for digital signatures in the United States, Canada, and the European Union.

Question 2

So much to like, I'm already in a little but contemplating doing more. My biggest question is about your IP and how it both gives you a moat and opens up licensing opportunities. Of course you don't want to give too much away, but I don't know enough about blockchain to proper...

Accepted Answer

Hi Alan, Thank you so much for your support! IP has been a huge focus for us. As one of first companies utilizing blockchain technology in this domain we realized the importance to build an IP moat against future competitors. What we did was partner with Wilson Sonsini, one of the largest law firms in the country, and just looked at all the ways blockchain could be utilized in sending verifiable digital documents. That is when we went in and just build a patent wall protecting our product and...

Question 3

Could you elaborate on the type of partnership with ADP? Are they currently using it for a subset of their users?

Accepted Answer

Hi Omar! Our partnership with ADP allows TransCrypts to be featured on ADP's official marketplace. This gives us great brand exposure to the thousands of human resource departments that utilize ADP and also allows them to easily integrate their HR databases with TransCrypts. As to answer your second question. ADP does recommend our product to a select subset of their users based on their needs, geographic location, and headcount. This has been a great source of lead generation for us and thro...

Question 4

1. What prevents the employee from altering the Transcrypts document? 2. Why would entities seeking verification ask the employee for the documentation instead of going directly to the employer which negates the benefit of this product? 3. Doesn't the requesting entity have to...

Accepted Answer

Hi Michael, Those are some fantastic questions! To answer your first question, employees cannot alter documents on TransCrypts because these documents are stored on our blockchain/IPFS network and not on their personal devices. What we do is link the unique IPFS address of the document to the blockchain, which gives employees the ability to share and view their documents but restricts them from making any sort of altercations to the contents of the document. Another way to think about how our...

Question 5

1. What was Ali Zaheer's consultancy firm that provided blockchain services and was later sold to Teller? I can't seem to find it described anywhere or on the LinkedIn printout. 2. Who is your perceived competition in this space including startups and already established playe...

Accepted Answer

Hi Jeffery! Thank you for your questions. The name of Ali's consultancy firm was called MAH consultancy(abbreviation of the 3 original founders) and his company provided blockchain and crypto consultancy for companies based in Canada and the US. He sold his company to a Toronto based consultancy firm called Teller in 2017, and left soon after the acquisition was complete. There are quite a few competitors in this space. Existing verification providers such as Equifax and HireRight are some of...

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