What is your business idea?
Forgeproof is a KYC management and CDD verification solution that leverages NFTs and blockchain technology. It securely packages client profiles with verified documents, enables end-to-end encryption, and simplifies data sharing within financial institutions. Forgeproof also offers real-time data synchronisation, document expiration notifications, and streamlined sanctions/PEPs checks.
What problem are you aiming to solve?
Forgeproof aims to upgrade the KYC onboarding process by simplifying data management, reducing costs, enhancing data security, and giving individuals more control over their KYC data. Our platform streamlines the collection and verification of CDD documents, eliminates redundancy, and ensures data is up-to-date. We use advanced encryption and blockchain technology to secure data, while automated reminders and synchronization features keep KYC information accurate and compliant. This empowers organisations and clients to efficiently manage their profiles through searching and enables them to share data with more confidence.
Target Audience
Our primary audience includes financial institutions such as trust and fund services, banks, investment firms, fintech startups, and other financial services entities looking for more efficient and secure KYC procedures.
What sparked your initial idea?
The concept for Forgeproof initially came after launching one of the leading NFT generators, we realised that decentralised technology could be used to package encrypted data as NFTs, and access a range of benefits by storing this data on the blockchain After building a digital identity product for a New York based neobank to streamline crypto exchange onboarding, we gained the experience, expertise and confidence to completely transform the way that companies manage, update, store and share their client KYC data.
Which tech entrepreneurs are you inspired by?
Vitalik Buterin – Co-founder of Ethereum. Vitalik was able to completely revolutionise the way we build and interact with crypto applications at a very young age. His focus on the technology first has paved the way for many breakthroughs in the crypto industry.
What is your background?
Our backgrounds are in software development, finance, and marketing. Together we previously launched a membership live streaming platform rivalling platforms like Patreon, and after the closure of that business we launched a web3 agency focusing on crypto and NFT projects. Our experience is wide and ranges from branding, marketing, and business development..to full-stack development, consulting and SaaS products.
Why do you think Jersey is a great place to incubate your start-up?
Jersey has been a great place to make connections with people in similar positions, especially through Digital Jersey. High speed internet access, a thriving digital community, and the ability to travel quickly to other countries make it a good place for a tech startup.
Which part of Bootcamp are you most excited about?
We’re most excited about the Thursday thinking sessions to speak with professionals that have been through what we are. There’s a lot of exciting parts to the bootcamp, but just being in the ecosystem and having the ability to learn from so many people around us makes it a valuable experience.
