Nuggets (NUG) ICO Review – ICO Token News
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. This is a consumer platform that everyone will use every day, to make trusted transactions with one simple, biometric verification. Those transactions go well beyond payments. Nuggets also enables secure login, ID verification and courier deliveries – with a many other applications and opportunities in the pipeline.
Solving the Privacy Crisis
These days, the average person has sensitive personal data – emails, payment card details, home addresses, and passwords – stored with over 100 online accounts. And that’s set to double in the next five years.
At the same time, there are almost daily reports of data hacks and breaches, often involving millions of sensitive customer records. Earlier this year, for example, credit monitoring firm Equifax made news around the globe after hackers stole the personal details of 143 million Americans – almost half the US population. These details included Social Security numbers and birth dates: invaluable information for identity fraud. Equifax admitted that 400,000 UK records had also been illegally accessed in the same incident.
This devastating breach is just one of the more high-profile cases in a trend that has been growing almost exponentially year on year. Digital security firm Gemalto reports that ‘Since 2013, over nine billion records have been lost, stolen or compromised.’ Gemalto also discovered that over 1.9 billion records have been compromised in the first half of 2017alone. (Source: Gemalto) Even the US Securities & Exchange Commission has had to admit that a hack from 2016 is still affecting its operations. (Source: NPR) “We’ve lost control of our personal data,” wrote the web’s inventor, Tim Berners-Lee in March 2017. And the fact is, none of the existing ‘solutions’ are any good.
In May 2017, Barclays CEO Ashok Vaswani acknowledged the growing “digital safety gap” between the innovations of cyber criminals and consumer security measures. But his advice to consumers – to change passwords regularly – is clearly inadequate.
Our 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
How Nuggets Works?
Instead of handling sensitive personal information to companies, to store in vulnerable databases, Nuggets encrypts personal information in zero knowledge storage in a blockchain. That zero knowledge storage is essential to Nuggets. The user is the only person who can access the encrypted data – so there is no ‘backdoor’ through which third parties could access users’ information. Compare this to most modern storage systems, where there is usually a root-level admin access, which could be compromised. This gives each user a personal cloud of data that no one can access – not even Nuggets itself. And the ‘nuggets’ of data you store take on genuine value through Nuggets Tokens, which you can accrue for use with product and services. The user’s Nuggets Tokens are recorded on a dashboard in the product. Nuggets ICO Tokens offer both a valuable reward for consumers, and a powerful commercial tool for merchants. Merchants can offer Nuggets Tokens as an incentive for purchasing products.
The blockchain in Nuggets is used to ensure that the underlying storage of the nuggets of information is not controlled and cannot be removed/destroyed by any one party. The blockchain also provides a platform for the Nuggets token. Nuggets are issuing an ERC-20/223 token on the Ethereum public blockchain network to power the underlying transactions. Ethereum has always been the platform of choice for Nuggets, although the data storage architecture is in place to evolve to future versions of Ethereum, or any other blockchain platform, as scalability improvements are made. To avoid undue load on the current public Ethereum network, data storage aspects of the Nuggets solution will initially be hosted in a private / consortium / sidechain / channel. Nodes will be distributed to a set of independent partners in the Nuggets ecosystem. Each node will hold a copy of the data, but that data will not be accessible to anyone but the user, thanks to the encryption. All users will have visibility / transparency of ledger integrity, and the side chain /channel will be pegged to the public Ethereum network. As the public blockchain becomes more scalable, and/or improved scalability options become available (e.g. Polkadot, Raiden channels or sharding), Nuggets will look to adopt these to provide a more trustless solution.
The ICO countdown has already begun! If you are also interested to invest in ICO then Nuggets can prove a beneficial option for you.
- ALASTAIR JOHNSON FOUNDER & CEOAlastair has spent over 25 years as an entrepreneur and innovator, almost entirely in digital innovation: taking big ideas and design through to delivery. With deep knowledge across technical, production and commercial areas, he has led global integrated product development and product marketing for brands like Microsoft, Skype, Office, Xbox, Hololens, Disney, TED and the BBC. He has created and led multi-disciplinary global teams in both start-ups and multinational corporations, both client and agency side.
- SEEMA KHINDA JOHNSON CO FOUNDER & COOSeema has over 18 years’ strategic experience leading teams and delivering large-scale commercialization, products, campaigns and projects. She has successfully launched global products across many regions and cultures for brands like Skype and Microsoft, achieving major user engagement and acquisition.
- ADI BEN-ARI ACTING CTOAdi is respected within the blockchain development community with over 20 years’ hands-on experience designing, developing and leading technology solutions and teams. He has worked across the telco and fintech sectors. A blockchain expert, Adi is CEO of Applied Blockchain – a team of blockchain professionals focused on creating real-world applications that harness the unique properties of the blockchain. Together, they have delivered platform-agnostic products and privacy/security frameworks that deliver real business objectives.
- STEVE LAU SENIOR STRATEGIC ADVISORLeading Business Development & Growth in China. Eagles Fund Founder and Managing partner, Founder and Chairman for China Fortune Holdings Limited, Managing partner of DFJ Dragon Fund. Angel investor behind Beijing V2 Technology Limited.
- SEBASTIAN QUINN-WATSON STRATEGIC ADVISORSebastian is a leading business development, blockchain fundraiser and token sale advisor, focused on Asia and the US. He’s advised on a number of successful and market leading projects, such as Power Ledger, Bluzelle, Simple Token, CanYa, Viberate, and AirSwap. He also sits on the advisory boards of Power Ledger, CanYa and Bluzelle.
- MATTHEW GRAHAM STRATEGIC ADVISORFounder and CEO at Sino Global Capital. Entrepreneur and tech banker with six years of experience bridging international technology to China strategic partners.
- JOSHUA J. BOUW SENIOR STRATEGIC ADVISORJoshua develops new partnerships and advises on Nuggets’ technical strategy. An innovator of blockchain technology, he established Blackcoin – the world’s first 100% proof-of-stake currency – in 2014.
Joshua was the receiver of the first ever smart contract, as one of those involved in the BlackHalo and BitHalo smart contracting platform, one of the godfathers of proof-of-stake, Joshua is a popular speaker on alternative currencies, and has represented altcoins at OKCoin and Huobi events.
- STEVE CASTLE FCA FINANCIAL SERVICESWith 35 years’ experience in international financial services, Steve has held leadership level positions at a range companies. including LV= General Insurance (which he helped to grow five-fold, into the UK’s third-largest motor insurer) and RBS Insurance. His wide-ranging experience encompasses work in over 20 countries, and considerable experience of acquisitions and disposals, as well as integration. As an entrepreneur, Steve has also founded, developed and sold two financial services businesses of his own
- DIARMUID CONSIDINE PAYMENTS & FRAUDAn award-winning risk management leader with over 15 years’ experience in the telecomms and digital goods industries, Diarmuid has a deep understanding of daily operational issues in multinational companies like Skype, Microsoft and Mastercard. Internationally recognised as a leading expert on fraud and payments, he has served on the board, and as Chair of the European Advisory Board, at the Merchant Risk Council.
- MARK NICHOLS CUSTOMER EXPERIENCEMark is a customer-centric, strategic leader with deep delivery experience and a record of transformation and benefit realisation at a global scale. A board-level influencer, he has executed numerous performance improvement strategies and investible end-to-end customer experience initiatives across multiple channels, markets and languages. Mark has held numerous senior leadership roles in organisations including Telefonica, Skype, Microsoft and is currently the VP of Customer Experience at Virgin Mobile USA.
- ROBERT SEOK CFORob has been a finance professional for the past 18 years, specialising in media and tech. He has worked in many multinational organizations such as KPMG, UBS, BT, and Virgin Media, in roles ranging from commercial strategy to pricing. He has also helped a tech company successfully IPO on the AIM, in exceptionally challenging conditions.
- ANDREW AMADEO CMOAndrew has worked in advertising and marketing for 28 years – 18 of them at management level. He’s led and produced award-winning, innovative work for global brands like Nike, Unilever, P&G, Honda, InBev and Diageo. In recent years, has specialised in multi-channel, integrated consumer campaigns. As a former Creative Chief of Collet Dickinson Pearce, Mustoes and Grey London, he offers a wealth of knowledge, across marketing, creative and leadership perspectives.
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