Valley Venture Mentors software startup Cambridge Blockchain opens office in Paris
Massachusetts software startup Cambridge Blockchain recently opened a new office – in Paris. While most of the firm’s sales to date have been in Europe, CEO Matthew Commons says they have every intention on maintaining a presence in the Bay State. Cambridge Blockchain’s platform allows financial institutions to meet the strictest new data privacy rules, eliminate redundant identity compliance checks and improve the customer experience. Blockchain – which is essentially a shared databased protected and secured by cryptology and blockchain technology – can store validation information about a person’s identity. A user can use the application as a secure way to do something like access government services or pay taxes. If an individual wanted to apply for a loan, the lender would send a data request to the user, and the user can simply grant access without filling out or completing new slews of paperwork.