Qryptal at the SC Digital Banking, Innovation and Fintech Festival 2021 !

Reimagining Document Security in developing countries

Ghana is going through an unprecedented digital transformation. Qryptal is taking part in an event titled “Shaping the next phase of Ghana’s financial technology landscape for the 21st century”. At The Standard Chartered Digital Banking Innovation & Fintech Festival on 3 & 4 November 2021, Qryptal will discuss Reimagining Document Security in the Finance Industry.

We are excited and honoured to have Dr Vinod Vasnani, our Co-founder, share his thoughts on the subject along with some of the biggest names in the industry. Please click here to register and attend the virtual meet.

Fintech festival panel one speakersPanel One speakers

Document security has always been central to financial innovation, and Qryptal has been leading in the area since 2011. Qryptal’s secure QR provides Blockchain-like security at a fraction of its cost. This becomes a critical advantage for banks in Ghana and Africa looking at an easy to deploy, scalable solution to prevent tampering and enable instant verification of their electronic and printed documents. A proven QR code-based security solution utilising state of the art cryptography and compression to make your documents easily verifiable by anyone - without exposing databases and one that works even without network, with offline validation.

Qryptal at Stanchart Fintech Festival

QR Code-Based Security Delivers the Best of Both Worlds - Blockchain Like Results and The Ease of Use of QR Codes

At Standard Chartered Fintech Festival 2021, Qryptal will share thoughts on a simple, Secure QR-based solution, the simplest and easiest way to add QR codes to enable document security and ensure instant validation by third parties. This solution used across functions - Cheque Security, Account Statement, Human Resources, Trade Finance, Invoices and Operations – can dramatically reduce costs of implementation of secure technologies while delivering solutions that can accelerate adoption for the developing world

A secure QR code solution product would be

  1. Significantly lower in investment and lifetime ownership costs

  2. Flexibility in physical vs digital and on-premise vs cloud implementation

  3. Highly scalable - can be used for millions of documents that are generated

  4. Easy validation both online and offline

  5. Easy integration with existing document and validation systems

  6. Security includes an encrypted private key, decrypted validation, no database or server exposure to an external entity, and works for both electronic and printed documents

  7. Zero maintenance, since there is no database requirement

Hence, using blockchain-like asymmetric encryption and signing capabilities, secure QR codes help achieve the security of blockchain solutions at a fraction of the cost. Qryptal’s secure codes technology has, in a way, combined QR Codes and blockchain benefits to enable secure, centralised “truth” generation with decentralised validation. Such a secure QR code solution allows for multiple use cases like cheques, ID cards, invoices, passports, school certificates, trade finance documents, vaccination certificates, to name a few applications.

Secure QR code is a widely proven solution today. Secure QR Codes are used in over 27 countries across large enterprises, SMEs, and governments. They are used to secure invoices, purchase orders, bank statements, industrial test certificates, Covid-19 test reports, Vaccine certificates, university degrees, transcripts and many more documents.

All these use cases of Qryptal’s Secure QR code solution use PKI based security equivalent to 3072-bit RSA, along with its multi-stage pipeline compression to generate a small QR code footprint which helps decentralised validation using just the public key. In addition, the technology uses standard cryptography and allows for quick, efficient, and effective verification. These features make it a compelling proposition and offer a unique advantage to make documents tamper-proof and easily verifiable.

As Ghana shapes its next phase of the financial technology landscape for the 21st century, Qryptal is happy to be a part of the revolution by architecting solutions with secure QR that provides Blockchain security at a fraction of its cost. This will help countries like Ghana and other developing countries reimagine document security and get the best of both worlds - Blockchain like results and the ease of use of QR codes.

About Vinod Vasnani:

Vinod co-founded Qryptal in 2011.

Vinod started his career at Emerson Process Management in R&D. Subsequently, he became a Product Manager for its new market leading control systems, DeltaV and led its rollout for Asia Pacific. In late 1999, he joined Accellion as VP of Engineering, soon after it was founded. There he built and worked with a diverse team of engineers to deliver an innovative & market leading, secure distributed file transfer used in over 2,000 enterprises globally today. He is also an Adjunct Associate Professor at National University of Singapore’s Institute for Engineering Leadership where he develops and teaches unique experiential modules for graduate students to groom future engineering leaders.

Vinod has a Ph.D. and Bachelor of Electrical Engineering (1st Class Honors) from the National University of Singapore.

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