Fintech floater convinced blockchain its future
David Cassidy, the managing director of Irish float hopeful KYCkr says blockchain is the future of its business identity check business.
KYCkr is raising between $6 million and $8 million by floating between 30 million and 40 million shares at 20¢ each on the Australian Securities Exchange in June. This would give it a market capitalisation of between $25 million and $27 million.
The funds will be used to market the business in Europe and Asia as well as move its systems to a blockchain, or distributed ledger.
The company, which has direct links with government business registries around the world, verifies the business customers of banks and other companies and competes against credit bureaus like Veda and Dun & Bradstreet.
“We are being pressured by the banks to have this competency; they want this yesterday,” Mr Cassidy said. “Blockchain is a given, you have to do it.”
