Turing Chain envisions a world completely without fake data. This might seem like a lofty goal but they’re already making progress towards it. Evolving from HKUST and UC Berkeley, the company has launched a smart citizen network called Turing Certs for Credential Endorsements and Proof of Evidence. The company is currently focused on targeting the education and real estate markets.
The company’s founder, Jeff Hu, came upon a gap in the market as he was applying for grad school. He experienced the difficulty of applying for all the necessary certificates, awards, and diplomas in a short period of time.
Moreover, since every school has their own strict regulations, verifying the authenticity of each student’s documents can prove costly too. Thus spawned the idea to create Turing Certs, the company’s main product which offers issuers a convenient way to issue certificates with verifiable functions.
Turing Certs streamlines and expedites the traditional document verification process by offering a quick issue process without any paper-based or stamp printing. As such, time and resources will be saved.
COVID-19 has also been a blessing in disguise for the company. The pandemic has accelerated the need for people to go digital, and this applies to the distribution of physical certificates. Thus, more schools and corporations are turning to digitised certificates as an alternative for the present and future. For example, in Singapore, students graduating from local schools are set to receive ‘tamper-resistant’ digital certificates for the qualifications they obtain.
As an anti-counterfeiting tool that helps issuers produce verifiable certificates, it is natural that Turing Certs will not be the first of its kind in the market. However, the company differentiates itself from competitors by adopting a public chain with a low transaction fee and high transaction speed. The cherry on top is that the company has passed the ISO27001 compliance, a feat that only few in their industry have achieved. Other notable corporations who have achieved this certificate include TPIsoftware and Taiwan Stock Exchange Corporation.
Jeff also has a worthy team backing him up. Although still a relatively small company, all nine employees hail from production, technical, and business related professional backgrounds. The team pushing this project is also full of energy. With an average age of less than 25, all the employees are passionate and willing to take the challenge of exploring foreign markets.
Judging from their string of investors, Turing Chain’s innovations have found traction in the local Taiwanese market. The company counts Wallace Ko, CEO & MD of Morgan Stanley Taiwan, Rita Liu, Ex-MD of Imago Semiconductor Co. and Da’an Holdings as some of their notable investors.
As a company that relies on blockchain technology, the future looks promising. In the words of Yao-Chieh Hu, Co-Founder & CEO of Turing Chain, “blockchain will become a future tendency not only in the finance industry but also in education, agriculture, and other high-value industries.” Since blockchain can assist in the verification of authenticity and ownership of products, its increasing prevalence is good news for Turing Chain.
As of now, Turing Chain has served more than 33 schools, 32 institutes and 7 government agencies across 9 regions and countries. The company aims to complete the pre-A round fundraising within the next 6 months and establish a milestone in Japan and SouthEast Asia.