In today’s hyperconnected online world, digital identity has become a key part of our daily lives.
A digital identity is a profile tied to a specific user or entity and is being hailed as a transformative tool for governance, with the ability to increase efficiency, enhance security, and improve the user experience. But its practical implementation is plagued by exclusion, misuse, technical failures, and operational complexities.
In order to truly utilize digital identity for financial inclusion, streamline welfare delivery, improve education and healthcare access, strengthen cybersecurity and fraud prevention, enable secure digital payments, and unlock broader socioeconomic benefits, there is a need for a robust digital identity system to create, manage, and verify digital identity.
Existing centralized identity systems, however, are unable to fulfill this need. They are fragmented and too vulnerable to data breaches. Not to mention, they limit individual control over personal information. All these flaws hinder trust, interoperability, and true inclusion.
A decentralized, blockchain-based approach can offer a transformative alternative, enabling transparency, security, and user ownership at scale. TransCrypts is that solution.
TransCrypts is a blockchain-based digital identity platform for storing, verifying, and sharing personal records securely. It leverages distributed verification and end-to-end encryption to enable individuals and enterprises to protect their sensitive information while maintaining full control over their data.
Empowering Individuals Through Self-Sovereign Identity
The idea for TransCrypts originated in 2020 when cousins and co-founders Zain Zaidi (CEO) and Ali Zaheer (CTO) realised that people create valuable data through their achievements and experiences, yet they don’t truly own or control that information.
Instead, it’s third parties that control access to our own data, creating not only inefficiencies but also privacy concerns. So, they built a verification platform that allows consumers to own their data while helping organizations drastically reduce their verification time.
From there, the idea evolved into a blockchain-based “self-sovereign identity” platform, which has since scaled to serve millions of users and hundreds of enterprises.
Backed by enterprise clients and major investors, TransCrypts is today a team of 15 people who are focused on giving people the ability to own, share, and manage their records directly.
At the same time, TransCrypts is making verifications fast, easy, and burden-free. The process is actually automated and fully compliant.
Through TransCrypts, businesses and individuals verify their official records, such as employment credentials or medical data, using blockchain technology. Its API-enabled system encrypts and stores documents on-chain, allowing users to maintain complete ownership and control over their data while offering the ability to safely share the verified records with third parties without the risk of unauthorized access or tampering.
“We view ourselves like the post office,” said Zaidi. “We simply take the sealed envelope from the issuer and hand it to the consumer — and then the consumer decides who to share it with. The company itself can’t even see the contents.”
The idea is to not only give users ownership of their personal data but also tools to harness it. TransCrypts is actually working towards a future where consumers, regardless of their background or circumstances, will control their personal information and use it to unlock opportunities and build trusted digital identities.
TransCrypts’ Rapid Growth and Real-World Impact
Recently, the blockchain-based verification startup raised $15 million to expand its encrypted data infrastructure to education, employment, and healthcare. The all-equity seed funding round was led by Pantera Capital, with participation from Lightspeed Faction, California Innovation Fund, Motley Fool Ventures, Alpha Edison, and Gusto co-founder Tomer London.
With this new capital raise, TransCrypts has now secured a total of $18.7 million. Existing backers, including Mark Cuban, Alumni Ventures, Protocol Labs, and Techstars, also rejoined the latest round.
“This raise allows us to expand the scope of what’s possible with secure, verifiable digital records,” Zaidi said at the time. “We’re building the foundation for a world where people can fully control their personal data.”
While the funding will accelerate its development and expansion, TransCrypts is already serving more than 4 million users and over 450 enterprise customers, which include multiple firms in the Fortune 100 and Fortune 500. All this traction means it is already a revenue-generating company, a rarity in the cryptocurrency space.
TransCrypts has grown 30x since its launch 2 years ago and is on track to achieve more than 7-figure revenue, signaling a rising demand for secure digital identity solutions.
What’s more, TransCrypts has earned HIPAA certification, in preparation for entry into the regulated sectors, which shows potential for immense growth ahead, beyond early-stage credential verification. TransCrypts’ certified technology is currently deployed in nine countries, including Ukraine and Turkey, where it is helping hospitals and refugees store and share medical data securely in disaster zones. To date, the platform has impacted over 120,000 lives, helping displaced individuals regain access to lost records.
The company has also launched JustScreen, a free background-check service for HR teams and job applicants, demonstrating clear product-market fit in employment verification and making the hiring process faster and more transparent for all parties involved.
With this proven real-world utility, accelerating adoption, and strong investor backing, TransCrypts is creating a new standard of self-sovereign digital identity that has the potential to become a foundational layer in the next generation of secure digital infrastructure.
This industry announcement article is for informational and educational purposes only and does not constitute financial or investment advice.
