28 August, 2017 – SINGAPORE –
Ammbr Foundation Pte Ltd, a Singaporean foundation focussed on building the first global distributed Wireless Mesh Network, and SendX Pte Ltd, a Singaporean blockchain applications and payments company, have entered into a strategic partnership. Both companies will deploy a common Self-Sovereign Digital Identity (SSDI) programme for payments, starting with Singapore and extending globally. This will address the many urgent concerns today around vulnerability of data, privacy, robustness of KYC and money laundering.
Derick Smith, Founder and CEO of Ammbr has this to say. “We are all involved in building distributed and decentralized networks to bring multi-dimensional equity to people. Access to high speed, high quality Internet anywhere, and the right to transfer value safely, quickly and cost effectively, are two pillars for our future. Having control over your own identity and being able to take charge of your credentials and security is central to equity. Our secure, air-gapped SSDI product makes this possible. This partnership between two like-minded, innovative start-ups is indicative of our determination to bring about this shift towards self-sovereign identity”.
The Founders of Send X added the following.
“Identity is at the heart of payments. Everyone needs to offer credentials today to be able to transact. Self-Sovereign Digital Identity is a great way to make KYC and related processes more streamlined, more inclusive and more robust. At the same time, this is a great way for consumers to feel empowered and be a part of the process itself. This is very important as transactions happen increasingly through mobile devices. Our intent is that eventually every user of our services should be SSDI-enabled.”
About Ammbr Foundation:
The Ammbr Foundation is based in Singapore, with technology development partners in the United States, Ireland, Belgium, Switzerland and Hong Kong.
For more information about Ammbr, please visit www.ammbr.com.
About Send X Pte Ltd:
Sendx Pte Ltd is a global company of Singaporean origin. It runs SendX, the better way to transfer value worldwide, correcting the high costs, latencies and process overheads that accompany money movement today. It also operates a stored value facility(SVF) called SendX Singapore which uses a cryptographic token called SDX, running off the Stellar Consensus Protocol.
For more on SendX, please visit www.sendxsg.com
SendX Pte Ltd
140 Robinson Road, #04-01, Singapore 068907
Tel. +65 9235 3702