Cetas Announced as the Winner of Most Transformative Use of Blockchains in Citi Mobile Challenge – APAC 2015
Algorythmix is proud to be named the most transformative use of blockchain in Citi Mobile Challenge APAC 2015, for “Cetas – The decentralised KYC and Credit rating framework.”
Cetas is a decentralised platform which enables sharing of the KYC data using blockchain. The platform has an added a layer of decentralised credit rating function and advance functionalities to address the problem of scale.
An idea which came into existence over coffee table discussion made its way to the Bengaluru demo day of Citi Mobile Challenge and stood out among 1900 ideas from 386 cities.
Banks have always faced challenges when it comes to faster opening of accounts. Cetas translates into a tremendous value in-terms effectiveness and efficiency.
Cetas challenges regulatory economics and banking market dynamics. Citi Mobile challenge is a platform where such daring innovations can be taken to next level.
“Citi Mobile Challenge Asia Pacific was by far our biggest and most competitive program yet. The solutions we saw at Demo Days in Bengaluru, Singapore, Sydney and Hong Kong were outstanding, and the top innovations from this Challenge are of the highest quality. Congratulations to our award recipients and we look forward to collaborating with you!” said Jorge Ruiz, Global Head of Digital Acceleration at Citi.
Entire Team Algorythmix is humbled and elated to be named a top innovation, for us making a transformation is what matters the most. We thank Citi for such a wonderful framework for innovation.