Kyckr has completed phase one in the development of its corporate identity blockchain service, which is being built using the Credits blockchain platform.
Recently, Credits was awarded the first UK Government G-Cloud framework agreement for the supply of blockchain platform-as-a-service on the Digital Marketplace, and is also used by the Isle of Man government.
This new capability is ready for the next phase of commercialisation and will accompany Kyckr’s commercially proven automation model for KYB.
The corporate identity blockchain solution will be a significantly more volumous per click business model than automation model when it is running at scale, Kyckr said in a statement.
“Its uniqueness stems from the same day, direct links to corporate identity sources, including over 150 business registers around the world,” the statement added.
Kyckr global head of innovation Rob Leslie commented: “This is a very important day in the development of Kyckr’s service portfolio. Being able to provide authoritative corporate data that has been made immutable and secure through deployment on the Credits’ blockchain platform will open up many new opportunities in financial services, controlling supply chains and other regulated industry sectors.”