Blockchain-Based ID Marketplace FlexID Secures Investment from Algorand
Source: Chloe
Singapore-based digital identity company FlexID has gotten funding form Algorand to offer self-sovereign ID’s to Africa’s unbanked.
FlexID is building a blockchain-based identity system for those excluded from the banking system due to their lack of identity documents. FlexID’s idea has won it funding from Algorand, a blockchain protocol. The two parties didn’t disclose the size of the investment.
With funding from Algorand, FlexID aims to make its decentralised identity network available in emerging markets where over one billion people are estimated to lack formal identification, the startup said in an announcement.
(Source: The Paypers)
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