Categories: Tech News

Star Tech: How ZorroSign is securing businesses using blockchain technology – News

The company’s short-term roadmap includes opening an investment round to accelerate global growth

Published: Monday, August 15, 2022, 6:40 p.m

Shamsh Hadi is an entrepreneur who has helped organizations transform into digital powerhouses.

Hadi has been the CEO of several organizations based in Dubai. In 2015 it built a multi-chain blockchain platform and four years later launched ZorroSign — for the uninitiated, it means that when risk is personal and everything is on the line, either Z-Sign or don’t sign — bringing together the platform and digital signatures with identity as a service (IDaaS), proprietary fraud prevention and artificial intelligence (AI)/machine learning (ML) technologies to ensure user authentication and document verification for to legally enforceable digital transactions.

Hadi, who is the CEO and co-founder of ZorroSign, is working to make the startup the most advanced digital signature and transaction management solution on the market, emphasizing privacy and security in the Web 3.0 and Metaverse ecosystems.

He explained ZorroSign’s unique selling proposition.

“ZorroSign’s technology supports complex passwords and multi-factor authentication while supporting passwordless logins. Our blockchain platform can validate multiple dimensions of authentication based on the security needs of the transaction. We are using zero-trust distributed ledger technologies, initially built with Hyperledger Fabric and later extended to include Provenance Blockchain, to provide superior privacy and security. Our technologies reduce operational costs, reduce paperwork errors and increase productivity,” he said.

Hadi, who holds a postgraduate degree in economics and business management from the University of Waterloo in Canada and certificate courses from Cornell University in the US in various fields, including strategic hotel management and blockchain for businesses, continues the President’s Program at Harvard Business School. .

He assessed how the blockchain industry is expanding in the six-nation Gulf Cooperation Council (GCC), which is being led by the United Arab Emirates.

“GCC’s digital transformation helped the expansion of the blockchain industry. The region paved the way for increased business and technology prospects, which can be attributed to the Middle East’s inherent entrepreneurial potential, interest in ‘technological application and regulatory certainty. Blockchain has the opportunity to thrive in the region thanks to the highly proactive regulatory measures of the United Arab Emirates, Bahrain and the Kingdom of Saudi Arabia to incubate innovative ideas. These are advanced countries and tech-friendly, where central banks are actively researching digital currencies, while fintech sandboxes help entrepreneurs Emirates Blockchain Strategy plays an important role in blockchain adoption at the state level, not just in the East Medium, but also globally,” he said.

Hadi cited that the UAE has become the base for new developments and advancements in cryptocurrencies, the Metaverse and non-fungible tokens (NFTs), thanks to the announcement by Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Prince Dubai heir and president. of the Dubai Executive Council, on the “Dubai Metaverse Strategy”.

He said: “This is the first initiative of its kind in the world to be carried out at the government level. It aims to increase the number of companies and innovations related to blockchain and Metaverse by five times. The government intends to support the creation of more than 40,000 virtual jobs, which are expected to contribute Dh4 billion to the national economy over the next five years. The feasibility of these ambitious goals stems from the fact that The UAE already has a significant blockchain-NFT-Metaverse sector, with around 1,000 companies contributing around $500 million to the national economy.In addition, a new high-level committee has been set up to Dubai that will design policies for new technologies such as the Metaverse, AI, blockchain, Web 3.0, virtual reality (VR), augmented reality (AR), data centers, cloud computing and other modern technological concepts,” he added.

Hadi is closely watching how blockchain and AI are changing the digital business landscape.

“People, businesses, organizations and governments around the world are moving to digital operations at an incredible pace. However, the transition to a digital environment can introduce risks to data security and privacy. The Blockchain architecture, originally created for zero-trust environments, offers information technology (IT) organizations a compelling alternative to centralized databases and strong protection against cyberattacks.

“In phishing attacks that aim to steal data, for example, blockchain presents a data architecture where no single endpoint node controls the data set. Even if an individual endpoint is hacked through phishing or other engineering means social, the data set is distributed among many nodes. This decentralization of data and access means that even successful phishing attacks that penetrate a blockchain endpoint only gain access to a small portion of the system” , he said.

ZorroSign is keen to strike a good balance between sustainability and deep technology, as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, has struck a chord with Hadi .

The visionary leader’s vision of the digital city for Smart Dubai has been a guiding principle for ZorroSign. “I share His Highness’s goal of a paperless life in the UAE by 2030,” he added.

ZorroSign has also committed to Dubai’s blockchain initiatives which are a work in progress for smart digital transformation.

The startup’s clients span education, financial services, government, information technology, legal services, real estate and various other industries around the world.

One of ZorroSign’s key deliverables in the second half of this year is the redesigned user interface (UI) and user experience (UX), according to Hadi.

“Our goal is to ensure that the look and feel of our mobile app is the most intuitive and user-friendly digital signature experience available. We’re excited to unveil our new screens, features, and navigation on August 15th. We’re encouraging new users to try our software at no cost with a 14-day free trial,” he said.

“Our near-term roadmap includes opening an investment round to accelerate our global growth. ZorroSign’s roots run deep in the UAE; we’ve had our development center of excellence in Sri Lanka and we opened an operations center in the US in 2020. Finding and onboarding strategic investors is a critical step in our corporate roadmap for the coming year,” he added.



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