Nuggets-Payment and ID without sharing personal data

INTRODUCTION

Nuggets is a consumer blockchain platform with the power to revolutionise payment, privacy and security. It puts personal data back in control of individuals, enabling ‘self-sovereign identity’ on a mass scale. And it solves the biggest single headache for businesses: data security.

Nuggets was inspired by its Founder’s personal 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 immutable ledger that’s decentralised. This creates an entirely new, blockchain-enabled platform for making simple e-commerce payments without having to sacrifice control of their personal data.

THEIR VISION: TAKE BACK CONTROL OF YOUR DATA

With Nuggets, anyone can take back control of their data. Instead of handing over payment and personal information, each individual can choose if and when to share data – and do so only on their own terms. Nuggets returns power to the people. And it also liberates companies from the burden of trying to manage and secure huge data silos. By atomising those silos, it can remove the biggest challenge facing companies today: cyber security.

CONSUMER BENEFITS

1. No uncontrolled storing or sharing your data – but still use the services you love.

2. Privacy and security assured by leveraging the blockchain and data encryption.

3. Payment with existing methods and crypto currency – including credit and debit cards.

4. Single sign-on, without tracking and selling your activity.

5. Biometric access: simple and secure.

6. No passwords, no social engineering, No hijacking Phone Accounts.

BUSINESS BENEFITS

1. Reduce fraud – $16 billion has been lost to card and identity fraud in the US.

2. Reduce false positives – $118 billion has been lost or passed up in the US through false positives.

3. Reduce fraudulent charge backs – These currently make up 42% of retail fraud losses.

4. More transactions – Thanks to greater peace of mind from trusted and verified transactions.

5. Minimise regulatory exposure – Massively reducing data silos means less risk of non-compliance

with upcoming General Data Protection Regulation (GDPR) and the Federal Trade Commission Act.

6. Customize experiences using anonymous behavioural data – offer the services users want,

without compromising their privacy and security.

TOKEN SALE FUNDING

Nuggets intends to set aside 30% of all Nuggets Tokens as incentives, and for use in the ecosystem. Nuggets intends to keep 15% of Nuggets Tokens as long-term reserves with a one-year lock up, and 15% for Nuggets employees with a two-year lock up, and 50% vesting after one year. Nuggets intends to reserve another 5% of the Nuggets Tokens for legal, regulatory, and miscellaneous costs leading up to the platform launch in each market. Some early retail adopters may receive Nuggets Tokens, to pay some fees and to capitalise on the network effect as the ecosystem grows. Nuggets will control such distribution to protect the economics of the ecosystem. Nuggets will also release a proportion of Nuggets “Team Tokens” to existing employees and consultants and as and when new members join the team.

For more information about Nuggets company access the link whitepaper and Nuggets.