UAE Next IT Systems Partners US Blockchain Entity
UAE-based NEXT IT & Systems collaborates with US-based IDD Lab to use Blockchain Technology to revolutionise solutions for numerous industries. NEXT IT & Systems, a notable software development firm, has partnered with IDD Labs, a leading blockchain technology firm based in the United States, to create cutting-edge blockchain solutions aimed at improving identities across a variety of industries, including supply chain, KYC/AML, payments, and more.
IDD Labs, a software technology firm specialising in blockchain, was important in the establishment of the identity-based Accumulate network, which went live in November 2022 and is a hard fork of Factom, a blockchain network that has been operational since 2016.
Accumulate is the first blockchain built around decentralised digital identities, disrupting the blockchain landscape. Accumulate’s cutting-edge technology enables the creation of complex organisations and data structures via interconnected identities and human-readable URLs. The platform also delivers a revolutionary security architecture, allowing users to effortlessly rotate, backup, and recover keys while providing companies with comprehensive access controls for digital asset management. Accumulate opens the door to unprecedented possibilities across a variety of industrial verticals by exceeding the restrictions of typical smart contracts.
(With inputs from Shikha Singh)
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