Explainer Video
Nuggets is an e-commerce payment and ID platform. It stores your personal and payment data securely in the blockchain, so you never have to share it with anyone – not even Nuggets. It was inspired by CEO Alastair Johnson’s experience of having his payment details used fraudulently – and the complicated, frustrating process that ensued. Nuggets solves this problem, using zero knowledge storage, encryption, privacy, security and trust, all combined with the decentralised immutable ledger.
For consumers, Nuggets is a single, secure sign-on for payment, login and ID verification, with no tracking or selling of your activity. Access is purely through biometrics to replace usernames and passwords.
For businesses, Nuggets will mean the end of vast, vulnerable databases of customer data, minimising the risk of regulatory issues. The Nuggets platform is agnostic, and will be available across e-commerce platforms and payment gateways.Campaign thought starters There are several ways we could promote the Nuggets product. These could be combined or used separately, depending on the opportunity.
Take back control of your dataNuggets gives anyone the power to take back control of their data. Instead of handing over payment and personal information to dozens of different companies, you can choose if and when to share data – and do so on your own terms.
For businesses, this removes the burden and risks of trying to manage and secure huge data silos. By atomising those silos, Nuggets can remove the biggest challenge facing companies today: cyber security.
Internet of valueNuggets puts real-world value on personal information. Right now, we all routinely give away highly valuable information to dozens of companies, just to use their services. Nuggets Tokens put a real value on that information, reflecting its enormous value for those companies.
The more you use the service, the more Nuggets Tokens you’ll earn to pay for products and services anywhere in the Nuggets ecosystem. Crucially, you’ll gain more Tokens if you choose to share elements of your data, like your email address for example. This creates a genuine “internet of value”.
Regulation and privacyThe system dynamically generates and shares encryption / decryption keys. The anonymity this provides, combined with zero knowledge storage and a privacy network, lays the foundation for GDPR compliance in a blockchain solution.
Massively reducing data silos means much lower risk of non-compliance with the upcoming General Data Protection Regulation (GDPR) and the Federal Trade Commission Act (15 U.S.C. §§41-58) (FTC Act).
E-commerceNuggets is the key to unlocking the vast potential of e-commerce – which is growing explosively across the globe. As an agnostic platform, Nuggets will be available across e-commerce platforms and payment gateways.
It can even be used in conjunction with existing payment platforms. Instead of entering an existing payment method, you could select “Nuggets” as an option. This creates an entirely new, blockchain-enabled platform for making simple e-commerce payments – without ever having to sacrifice control of your personal data.
Proof of good actor Nuggets verifies your identity when you sign up, in a one-time-only setup process. That establishes you as a trusted actor on the network. And every successful transaction you make after that adds to your trust profile.
Those transactions are stored transparently, without revealing the contents or context, using a privacy framework. Over time, this builds a profile that shows you’re a good actor in the network, and your payment methods are good. The retailer has to demonstrate they are a good actor in the network in the same way.
No more risk assessments and credit checksCurrently every payment is risk assessed as it goes through. But the trust network within Nuggets (described above), which provides proof of a good actor for each user, makes these assessments obsolete.
Data storage is broken. We can’t fix it – we have to replace it. The current model of data storage, which makes organisations responsible for ever-expanding databases of valuable personal records – is broken beyond repair. Despite the millions spent every year in the mushrooming cybersecurity market, breaches keep getting bigger and more frequent. This broken model cannot be repaired. We need a new model. Nuggets is that model.
Secure, private deliveriesNuggets also makes it possible to login, order and receive courier deliveries, without having to store or share personal information.
You don’t have to give your address: instead, we can send a GPS location to the courier company. When your package arrives, the courier pings your Nuggets app and you confirm your identity with your biometrics.
If you can’t take delivery in person, you can leave a unique QR code for the driver. They can use it to show they arrived, and tell you the next steps. Or you can use it to give them alternative arrangements.
Nuggets puts the consumer in control. You know exactly where the package is – not just where the courier says it is. Everything is transparent, and you can feed back to the supplier and courier in a transparent, yet private, manner. It’s private people logistics.
Self-sovereign identityBy putting power over data back into the hands of the people (instead of companies), Nuggets enables “self-sovereign identity” on a mass scale.
No more passwordsPasswords are another broken system. The most popular password is still 1234567. And many people stick to the same password for everything. How else can they manage dozens, or even hundreds, of different accounts? Passwords are incredible vulnerable to social engineering, phishing and malware attacks. They just don’t work.
Nuggets only uses biometrics to verify your ID. So you can forget all about passwords – and usernames. You can log in, pay or verify your identity securely, privately and in moments through the app, using your biometrics.
Manual biometric confirmationPassword managers don’t solve the password problem. Right now, autofill requests from your web browser can take personal information from a password manager automatically, if you’ve given permission or not turned off that function.
The manual confirmation in Nuggets puts a stop to this issue. Not only do you need a manual confirmation, that confirmation also has to be biometric. That effectively introduces a powerful human “air gap” into the security process.
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Topic: [ANN] NUGGETS 《》 Payment and ID Without Sharing Personal Data (Read 2157 times)