TransCrypts

TransCrypt Solutions Inc., commonly known as TransCrypts, is a Canadian–American technology company that develops blockchain-based tools for data storage and verification. Founded in 2020, the company operates from San Francisco, United States, and Toronto, Canada.

History

TransCrypts was established on September 23, 2020, by Zain Zaidi and Ali Zaheer while Zaidi was an undergraduate student at San José State University. The company initially focused on creating immutable blockchain-based records for individuals.

In 2021, TransCrypts won the Silicon Valley Business Plan Competition and was accepted into the Techstars Filecoin Accelerator. That year, it also partnered with Doctors Without Borders to launch a blockchain-based medical record system in developing countries.

The company later raised a pre-seed round of $2.4 million in 2023, led by Mark Cuban, Protocol Labs, and other investors. In 2024, TransCrypts announced collaborations with Google and Nvidia on artificial intelligence projects.

In 2025, TransCrypts won the Consensus Hong Kong Pitch Fest and was selected for the Society for Human Resource Management (SHRM) Workplace Tech Accelerator

Products

• Employment and income credentials – Blockchain-based verification system for enterprises and employees.
• Medical records – A self-sovereign health records platform, piloted with humanitarian organizations.
• Background checks – A free blockchain-enabled background check service launched in 2025.

Recognition

• Winner, Silicon Valley Business Plan Competition (2021)
• Owl Prize, Rice University Business Plan Competition (2021)
• Second place, University of Toronto Startup Competition (2021)
• Winner, Consensus Hong Kong Pitch Fest (2025)
• Selection, SHRM Workplace Tech Accelerator (2025)
• CEO Zain Zaidi named to Globe and Mail Changemakers list (2025)

See also

• Blockchain in healthcare
• Self-sovereign identity

References

1. Silicon Valley Business Plan Competition – Past Winners. San José State University. https://www.sjsu.edu/svce/programs/svbpc/past-winners.php
2. Techstars and Protocol Labs Announce the Inaugural Class of the Filecoin Techstars Accelerator. BusinessWire. March 21, 2022. https://www.businesswire.com/news/home/20220321005756/en/
3. Rice University Business Plan Competition – Results. Rice University. https://rbpc.rice.edu/results
4. Doctors Without Borders is now using blockchain tech for medical record storage. Cointelegraph. https://cointelegraph.com/news/doctors-without-borders-is-now-using-blockchain-tech-for-medical-record-storage
5. TransCrypts raises $2.4 million in pre-seed round. BetaKit. https://betakit.com/backed-by-mark-cuban-led-2-4-million-round-transcrypts-uses-blockchain-to-help-ukrainian-refugees-access-health-records-securely/
6. Alumni-powered startup brings blockchain to Ukrainian refugees. University of Toronto. https://alumni.utoronto.ca/news/alumni-powered-startup-brings-blockchain-ukrainian-refugees
7. TransCrypts and Nvidia join forces to accelerate Castello AI. EIN Presswire. https://www.einpresswire.com/article/741156127/transcrypts-nvidia-join-forces-to-accelerate-castello-ai
8. TransCrypts wins PitchFest at Consensus Hong Kong. Finance Yahoo. https://finance.yahoo.com/news/transcrypts-wins-pitchfest-consensus-hong-234453132.html
9. Consensus Hong Kong 2025 Coverage. CoinDesk. https://www.coindesk.com/consensus-hong-kong-2025-coverage
10. Securing Truth in an AI-Driven World. SHRM. https://www.shrm.org/topics-tools/flagships/ai-hi/securing-truth-in-an-ai-driven-world
11. Meet the Startups Making Workplace Tech Work for Everyone. SHRM. https://www.shrm.org/labs/resources/meet-the-startups-making-workplace-tech-work-for-everyone
12. Zain Zaidi named a Changemaker for 2025. The Globe and Mail. https://www.theglobeandmail.com/business/rob-magazine/article-changemakers-20-canadian-business-leaders/
13. Startup Profile: This Isn’t Just My First Company, But My First Real Job. Techstars Blog. https://www.techstars.com/blog/startup-profile/this-isnt-just-my-first-company-but-my-first-real-job
14. San Francisco Inno: TransCrypts profile. San Francisco Business Journal. September 16, 2021. https://www.bizjournals.com/sanfrancisco/inno/stories/inno-insights/2021/09/16/zain-zaidi-transcrypts-bay-area-inno.html
15. TransCrypts launches JustScreen, the world’s first free background check service. Morningstar. https://www.morningstar.com/news/globe-newswire/9487571/transcrypts-launches-justscreen-the-worlds-first-free-background-check-service