Nuggets, a consumer Blockchain platform aiming to transform the world of online payment, privacy and security by enabling consumers to take back control of their data, has announced its plan to hold a token sale to raise capital for ongoing product development and the planned 2018 commercial launch of the Nuggets platform.
Nuggets combines the unrivalled security of Blockchain encryption with biometric verification to render passwords effectively obsolete and give users a secure ‘personal cloud’ of data in zero-knowledge storage. Not even Nuggets can access this data. Transactions are encrypted using an immutable ledger with inherent trust principles to validate trust in both consumers and businesses.
Users decide if and when they want to share ‘nuggets’ of their data. These nuggets also have value. The more you use the service, the more Nuggets Tokens you’ll accrue to pay for products and services. You’ll also gain Tokens if you choose to share data – finally putting a real value on your personal information. In this way, Nuggets enables “self-sovereign identity” on a mass scale, returning control of private data to consumers. It also frees businesses from the burden of storing and protecting millions of vulnerable customer records.
Nuggets founders Alastair Johnson and Seema Khinda Johnson are former global directors at Skype and Microsoft with significant digital innovation experience and deep knowledge across technical production, large-scale commercialization and product development. With a best-in-class Blockchain development team in place, Nuggets has been selected by the UK Financial Conduct Authority (FCA) for Project Innovate, and is now testing in the regulatory sandbox. Nuggets is also a finalist in the BBVA Open Talent 2017 Global Trends competition.
“Nuggets will transform the way we buy, login and verify our identities online,” said founder and CEO Alastair Johnson. “It’s a revolutionary application of Blockchain technology and the key to a safer and simpler future – for consumers and businesses alike.
“Once you’re validated with Nuggets, you can make payments, login and verify your identity without having to give up control of your personal data – or bother with passwords. You can use the services you love, without having to hand over data to be stored in vast, vulnerable corporate silos. And if you need to update your details, you just do it once – in Nuggets.”
Data security is in a critical state. Both small scale and massive hacks and data breaches have compromised hundreds of millions of personal records in 2016 alone. Nuggets offers to solve this crisis using the revolutionary power of Blockchain technology.
Instead of having to enter personal and payment data to individual services, consumers will be able to select the Nuggets option and use their biometrics to complete a transaction in moments. Meanwhile, businesses will be spared the task of securing and managing millions of consumer records, hugely reducing the risk of regulatory issues and losses from fraud and false positives.
Seema Khinda Johnson, co-founder and COO of Nuggets, said:
“Imagine a world where you never have to remember another username or password, or answer lists of security questions. By combining biometrics with the Blockchain, the Nuggets platform enables services such as secure payments, login, and ID verification, with a host of other applications in the pipeline.”
The Nuggets token’s presale is scheduled for 24th October 2017 and the public token sale is expected to commence on 14th November 2017.
The offering is being managed by Argon Investment Management LLC, a unit of the Argon Group, a Los Angeles-based investment bank specializing in the field of cryptocurrencies and the ICO market.
More details about Nuggets and the token will be presented in the Nuggets white paper, which is expected to be released on or about 10th October at https://nuggets.tokenhub.com
Nuggets is a consumer Blockchain platform that will give users a single biometric tool for payment, login and identity verification, without sharing or storing private data. 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.
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