34ML and Valify Solutions announced the launch of KNFRM, the first digital contracts platform in Egypt based on blockchain technology. The platform aims to enhance digital transformation in the field of electronic contracting by providing secure solutions that comply with legislative regulations.
KNFRM is a significant step towards digitizing the contracting process in Egypt, allowing companies to manage their contracts securely and seamlessly. By relying on blockchain technology, KNFRM reduces risks and ensures the highest levels of security and compliance with all laws. This includes Law No. 5 of 2022 regarding the regulation, development, and use of financial technology in non-banking financial activities. The platform mainly serves large financial institutions and small and medium-sized enterprises across Egypt.
The platform is a new addition to the suite of services offered by Valify, which includes digital contracts and electronic records. These services help clients carry out electronic contracting, storage, and retrieval through digital records with efficiency and complete security. They also contribute to reducing administrative burdens and costs associated with paper usage and significantly enhance operational efficiency.
KNFRM also reflects 34ML’s commitment to building secure, scalable digital products. Working closely with Valify, 34ML co-shaped the platform’s vision and led the end-to-end product and technology execution—from architecture to user experience to long-term scalability.
Commenting on this partnership Omar Abdel Wahed, CEO of Valify, said that KNFRM is the first of its kind in Egypt, aimed at providing innovative solutions for managing digital contracts using advanced blockchain technology, offering companies a secure and efficient environment for completing digital contractual transactions while ensuring full compliance with all applicable laws. He added that the platform plays an active role in achieving digital transformation in Egypt by improving operational efficiency and reducing the risks associated with paper-based transactions, thereby supporting the national economy and opening new horizons for expansion and growth in various sectors.
He also stated that KNFRM was the result of a close collaboration between Valify and 34ML, combining Valify’s technology and fintech expertise with 34ML’s strength in building secure and reliable digital platforms. Together, we delivered a solution that brings security, speed, and compliance to digital transactions across Egypt’s financial and commercial sectors.
Ashraf Mourad, co-founder of 34ML, also reflected on the partnership, saying “From day one, we have been working closely with Valify on KNFRM, driven by a clear vision and a bold ambition. Today, the platform has become Egypt’s first blockchain product for digital contracts, it’s a true moment of pride for us. Milestones like this remind us why we love what we do: building real solutions that help businesses grow and overcome real challenges.”
