Muscat – Technicians Ahmed al Marjeby and Mahmood al Lawati have created a platform, called Nashid, to mitigate the risk of identity theft.
Marjeby, co-founder and CEO of Nashid, previously founded two tech startups in e-commerce and blockchain technologies, while Lawati, co-founder and CTO, has previous experience building a real estate tech startup .
As a team, they have technical and business expertise with a combined experience of over 12 years in tech startups, which has helped them focus on creating digital identities for people used by companies to digital services.
In 2020, Marjeby discovered that her online identity had been hacked – one of 2.5 million others whose identities had been stolen on the internet. Since paper ID documents cannot be digitally verified, stolen identity data can be used to impersonate anyone for fraudulent purposes.
But opportunity often comes disguised as misfortune and defeat. Nashid took shape a year after Marjeby’s identity was hacked following a conversation about identity digitization he had with Lawati at a cafe in Azaiba.
They identified the missing “digital identity layer” as the problem of our time, where the use of paper ID documents creates manual workflows requiring in-person verifications. It is outdated, physically taxing and no longer suitable for use in the digital economy, the two claimed.
Speaking to Muscat Daily, Lawati said, “Nashid as a blockchain-powered digital identity platform that enables service providers to digitally verify new and existing customers.”
Nashid also creates secure and reusable, portable and verifiable digital identities. This mitigates the risk of identity fraud, automates businesses’ ability to verify users digitally, and removes the need for in-person identity verifications.
Additionally, Nashid develops and assigns verifiable digital identities to businesses and individuals. This allows a native digital solution to exist that can verify user and business identities, automate online identity checks, and mitigate all identity fraud and identity theft issues.
According to Lawati, Nashid is an out-of-the-box platform for businesses and a wallet app for end users. The enterprise element allows service providers – banks and finance companies, telecommunications service providers, healthcare, aviation, and oil and gas companies – to verify user identities with seamless integration to their existing business systems and processes.
The end-user wallet application will ensure that users have control and ownership of their identity information, and establish a clear model of “consent-based” data exchange, compliant with local regulations and privacy laws. the protection of personal data.
“Nashid participated in the pitch competition at COMEX in June 2022 and was chosen as one of the top 10 projects by a powerful investment committee. Later, it obtained a pre-seed investment under the program Techween from Oman Technology Fund,” Lawati said.
Nashid also won the Omani chapter of the 2022 Entrepreneurship World Cup (Idea Stage) organized by the Small and Medium Enterprises Development Authority. By winning the Omani Chapter, Nashid qualified for the upcoming Global Finals to compete against national winners from around the world for a spot in the Top 100. This is one of the most important and the most diverse, with more than 370,000 entrepreneurs from more than 200 countries.
On the future, Lawati said, “Together with Nashid, we hope to contribute to Oman’s efforts to become a digital first nation and achieve the roadmap towards Oman Vision 2040. This will be done by enabling a native digital experience and by becoming the identity layer. of the digital economy.