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FlexID

Founders Team

Victor Mapunga, Co-founder/ CEO
Kudzaishe G Zharare, Co-founder/ CTO
Sanjay Mendis, COO

Developers

Nenyasha Mutandazuru, Front – End Design
Mufaro Makiwa, Dev Ops Engineer
Jabulani Nkomo, Full stack Developer
Tawanda Msengezi, Full stack Developer

The problem

At present, over 2.1 billion of the world’s population is unbanked and has restricted access to financial services due to challenges with issuing reliable and verifiable credentials. These individuals are among the world’s most vulnerable social groups and reside in the developing world with difficulties in accessing food, water shelter and sanitization.

A large part of the challenge with providing aid for these marginalized groups is the inability to provide them with access to financial services. Over 1.5 billion of these individuals are from developing economies in Asia with Sub Saharan Africa and Latin America accounting for 326 million and 250 million respectively.

Prohibitive CAPEX requirements and legacy systems have contributed to governments and financial service organizations being unable to establish required infrastructure. The high cost of trust and probability of fraud in these regions have also been deterrents to achieving a viable solution for this pressing challenge.

FlexID

FlexID is a layer-two network solution, developed on the Algorand blockchain for issuance, storage and sharing of verified digital identity credentials within a decentralized technology architecture. The solution enables user-managed identities which integrate with existing systems, generate verifiable credentials with privilege-based access and accelerated onboarding.

Additionally, FlexID also supports dynamic workflows which connect identities and credentials to business requirements with the overarching scalable integrity of blockchain technology.

Founded by CEO – Victor Mapunga, the founding team of FlexID is completed by CTO – Kudzaishe Zarare and COO – Sanjay Mendis. The outfit operates from their Headquarters in Singapore with regional offices in Zimbabwe and Sri Lanka.

Why FLEXID

FlexID proposes a re-imagined protocol for issuance, storage and share of verified digital identity credentials in a fully decentralized, user-managed network environment built on the Algorand blockchain. Adoption of the platform will enable governments and financial institutions to provide verified digital identities to the 2.5 billion unbanked population in the developing world with the opportunity to bridge gaps in access to financial services.

FlexID