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Compulynx signs Sh30m blockchain deal with US tech firm

Sailesh Savani
Compulynx CEO Sailesh Savani. FILE PHOTO | NMG 

Kenyan-based global software developer, Compulynx, has injected Sh30 million into a partnership with a US tech firm, Chainworks, in establishing a blockchain-based technology firm.

The new firm, Chainworks Africa, to be based in Nairobi is hiring IT gradutes with software development background who will be trained in domestication of blockchain.

“We are investing in this venture to facilitate Kenyan public and private sector entities [to have] a platform to authenticate digital certificates, among other important documents that are used in day-to-day transactions,” said Compulynx chief executive Sailesh Savani.

Mr Savani said the subsidiary will also enable Kenyans to have a new platform to generate new uses and products that can be commercialised.

Mr Savani said the investment was informed by emerging local interest in blockchain-based services such as provision of real-time authentication services like academic certificates, transcripts, driving licences.