How we put the blockchain to work for you.

Why is the blockchain so important? Why does it offer a transformational moment across so many industries? And why should we as consumers be so over-the-moon happy because of what it means for the security of our online IDs?

The answer lies in how the blockchain works.

The problem with databases

It all starts and ends with data. The encoding of thought and purpose into strings of 1s and 0s initiated and super-charged our digital age. But it also created a problem that only continues to get worse as we as a culture and as an economy continue to discover more effective, efficient ways to do things digitally. Especially problematic is the thing that has made the world’s most successful technology companies so successful: their ability to personalize the experience for their customers largely results from their ability to house giant centralized databases of customer information.

Here’s the problem: Your sensitive personal information is stored in these databases. And they’re vulnerable. They’re vulnerable because most modern databases can be compromised as we’ve seen over and over again in the data breaches of Yahoo!, Equifax, and so many more.

Enter the blockchain.

A new way forward.

While current, centralized data storage platforms are vulnerable, the blockchain presents a unique opportunity for solving the problem with databases.

The blockchain is totally unlike a single, proprietary silo of data — housed in a local server, in the cloud, wherever. It can’t be controlled by anyone and doesn’t have a single point of failure. Periodically, it checks itself, making sure that each transaction (block) executed since the previous check is valid. There are no centralized repositories of data to hack; everything is distributed across the network. What we’ve done is add biometrics to the verification step, so a transaction is only truly possible when combined with that thing that only you uniquely own: your fingerprint. (Technically, any biometric element can be the verification in this process. Eg. facial recognition or retina scan or something entirely different but unique to you.)

Thanks to this important innovation, you’ll be able to create a Nuggets profile with your personal information and your payment data — and store it all on the blockchain. And when you want to use that information to make a purchase online, you’ll verify it by providing your biometrics.

The blockchain ensures that your nuggets of information are never controlled, removed, or destroyed by anyone else. In this new world, we solve the problem of centralized, proprietary databases by giving you back your data. It’s yours. You should own it. You should control it. And we do this via the technologies of decentralization.

In the new world where Nuggets is the e-commerce payment of choice, you never have to worry about getting hacked, about having your data sold to the highest bidder, or having the details of your personal life analyzed and mined for new business opportunities.

With Nuggets, it’s safe to go shopping again.

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