ThynkBlynk Company Profile

Background

Mission and Vision

ThynkBlynk is dedicated to creating a world empowered by instant trust through an unfederated circular shared network that fully encompasses the lives of individuals, businesses, and institutions. Their mission is to establish ChainTrail as the default data reliability interchange globally, fostering trust, unprecedented efficiency, and speed in interactions, powered by a vast unfederated network.

Primary Area of Focus and Industry Significance

ThynkBlynk specializes in blockchain-based solutions aimed at enhancing data authenticity and reliability across various sectors. Their flagship product, ChainTrail, serves as a data interchange platform that enables secure and verifiable data exchange without the need for third-party verification. This innovation addresses critical challenges in data security and trust, positioning ThynkBlynk as a significant player in the blockchain and data security industry.

Key Strategic Focus

Core Objectives

ThynkBlynk's strategic focus includes:

Data Authenticity and Reliability: Ensuring secure and verifiable data exchange through blockchain technology.

Global Expansion: Establishing ChainTrail as the default data reliability interchange worldwide.

Ecosystem Development: Building an unfederated network that encompasses individuals, businesses, and institutions.

Specific Areas of Specialization

The company specializes in:

Blockchain Infrastructure: Developing hyper-scale, secure, and compliant blockchain solutions.

Data Interchange Platforms: Creating platforms that facilitate secure and efficient data exchange.

Digital Identity Solutions: Providing self-sovereign digital identity services for individuals and organizations.

Key Technologies Utilized

ThynkBlynk leverages:

Blockchain Technology: Utilizing permissioned Ethereum blockchain for data security and immutability.

Web3.E™ Framework: Implementing a compliant Web3.0 framework with local chains and resident data to ensure 100% compliance.

Open API Suite: Offering smart templates and open APIs for rapid deployment and integration.

Primary Markets Targeted

ThynkBlynk targets:

Financial Institutions: Banks and financial services requiring secure data exchange.

Government Agencies: Entities needing reliable and verifiable data for public services.

Enterprises and SMEs: Businesses seeking efficient and trustworthy data interchange solutions.

Financials and Funding

Funding History

ThynkBlynk has raised funds from Fintech Valley Startup Market Connect through participation in a demo day for startups to showcase their solutions to corporates.

Estimated Financials

Annual Revenue: Approximately $1.6 million.

Number of Employees: 18 employees.

Pipeline Development

ThynkBlynk's primary product, ChainTrail, is in the deployment phase, offering solutions for data authenticity and reliability. The company continues to enhance its platform to address evolving market needs and expand its user base.

Technological Platform and Innovation

Proprietary Technologies

ChainTrail: A blockchain-powered data interchange platform ensuring secure and verifiable data exchange.

Web3.E™ Framework: A compliant Web3.0 framework with local chains and resident data for enhanced security and compliance.

Significant Scientific Methods

Blockchain Integration: Utilizing permissioned Ethereum blockchain for data security and immutability.

Open API Suite: Providing smart templates and open APIs for rapid deployment and integration.

Leadership Team

Key Executives

Parag Jain: Co-Founder and CEO. A retail banker and payments expert with extensive international business growth experience. Alumni of London Business School.

K Devendar: Co-Founder and CTO. A banking technology leader and ex-CIO with experience in Africa, Eastern Europe, East Asia, and India.

Dr. Vincent Lim: Chairman, ThynkBlynk Malaysia. Over 40 years of experience in the private sector and government, holding a doctorate from Oxford. Served as political secretary to the PM of Malaysia between 2004-08.

Ahmad Lootah: Chairman, ThynkBlynk Middle East. Over 20 years of experience in banking and financial sectors, both conventional and Islamic. Founder & CEO of Al Hilal Capital and on boards of various banks and financial services companies.

Bobby Varanasi: Co-Founder Status, Strategy Advisor. Top 50 Global Thinkers – 2020. Chairman of Matryzel Consulting Inc., providing advisory services to federal governments across four continents on ICT sector development.

Competitor Profile

Market Insights and Dynamics

The blockchain and data security industry is experiencing rapid growth, driven by increasing concerns over data privacy and the need for secure data exchange solutions. ThynkBlynk operates in a competitive landscape with several key players offering similar services.

Competitor Analysis

ChainTrail: ThynkBlynk's own platform, offering blockchain-powered data interchange solutions.

KoineArth: Develops blockchains for creating economic networks, especially in supply chain management.

Transchain: Provides technological and digital solutions for B2B and B2C sectors.

TrustLynx: Offers an embedded digital trust platform.

Cyberlinx: Develops a global trust network.

LawTechThai: Transforms traditional legal contracts into smart contracts on a blockchain.

Footcoin: Generates new business models through blockchain.

Strategic Collaborations and Partnerships

ThynkBlynk has established strategic partnerships with various entities to enhance its market position and innovation capacity. Notably, they have collaborated with Fintech Valley Startup Market Connect to showcase their solutions to corporates.

Operational Insights

ThynkBlynk differentiates itself through its focus on data authenticity and reliability, leveraging blockchain technology to provide secure and verifiable data exchange solutions. Their commitment to compliance and security positions them favorably in the market.

Strategic Opportunities and Future Directions

ThynkBlynk aims to expand its global footprint by establishing ChainTrail as the default data reliability interchange worldwide. They plan to enhance their platform's capabilities to address evolving market needs and explore new applications of blockchain technology in data security.