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TransCrypts Wins Pitchfest at Consensus Hong Kong
The on-chain credential verification service beat out a host of promising startups at CoinDesk’s PitchFest at Consensus Hong Kong.
Updated Mar 7, 2025, 9:30 p.m. Published Mar 6, 2025, 11:44 p.m.
What to know:
- Zain Zaidi founded TransCrypts, a blockchain-powered startup that verifies employment information, after an administrative error almost cost him his grad school placement.
- TransCrypts, which generates about $5 million in annual revenue, is expanding into verifying medical and academic records.
- The startup recently won CoinDesk’s Pitchfest at Consensus Hong Kong, receiving $10,000 in tokens, a trophy, and ten coaching sessions.
Four and half years ago, when Zain Zaidi was applying to grad school, he submitted his academic transcripts. But, through an administrative error, the documents were lost, and he almost lost his place.
Understanding how someone’s life could be altered by not being able to prove something like an academic credential, Zaidi set out to try and make it easier.
STORY CONTINUES BELOW
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Instead of going to grad school, Zaidi started TransCrypts, which helps companies verify employment information. The blockchain-powered startup recently won CoinDesk’s Pitchfest at Consensus Hong Kong.
Zaidi says if we’re not able to prove data about ourselves, we give up something important about who we are. “We as consumers can’t actually verify who we are, own who we are,” Zaidi told CoinDesk Live after walking off stage.
TransCrypts gives individuals “self-sovereignty” over their ID information, proving their information on-chain.
Zaidi told us the business already generates about $5 million in annual revenue. After employment information, the startup is now expanding into medical records and academic records.
TransCrypts picked up $5,000 in tokens, a trophy and ten coaching sessions.
In the runner-up spot was CredShields, an automated auditing platform that scans, manages, and fixes vulnerabilities in Solidity smart contracts.
Ten other teams competed at Pitchfest at Hong Kong, including Oneverse Technology and Liquidium (both finalists) and semi-finalists Apillon, Domi Chain, GoSats, iBTC, NettyWorth, Tokenyze, Vanilla Finance, and Zypher Network.
The event was presented by Dimitra, a token and toolkit for smallholder farmers.
UPDATE: This story was corrected to say that TransCrypts received $5,000 in tokens for winning Pitchfest.
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