Describe the company
Nuggets is an e-commerce payments 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. That means no more data breaches – because companies don’t have to store your data. So you can make payments and use services without worrying about your privacy or security.
How are you different?
Nuggets is unique. There are other services offering payment, or identity – but only Nuggets combines the two with zero knowledge storage, encryption, privacy, security and trust, all combined with the immutable ledger that’s decentralised – and lets you forget about passwords. These are the top ten things that make us special:
1. Never have to share or store your data again
2. E-commerce payments and ID in one
3. Protect your data with the ultimate security of the blockchain
4. No more data breaches
5. No usernames. No passwords.
6. No endless updating. Update details once, in Nuggets.
7. Earn Nuggets Tokens to use with any participating merchant
8. Pay, log in, and verify your identity with your biometrics
9. No need for risk assessment and credit checks
10. Pay with existing payment methods or cryptocurrency
Why will you do well?
Right now there’s a perfect storm around privacy and security – and an ideal opportunity:
Data security is in a critical state. Hacks and data breaches compromised billions of personal records in 2017 alone. Sometimes in a single incident.
Fraud and ‘false positive’ card declines cost companies millions in lost revenue and passed up revenue.
Regulations are tougher than ever, with the upcoming introduction of General Data Protection Regulation (GDPR) and the US Federal Trade Commission Act (15 U.S.C. §§41-58), among others.
The average user has 100+ online accounts – and that’s set to double in five years.
We’ll all have biometrics on our smartphones by the end of 2018.
Technological advances. Ethereum blockchain, zero knowledge storage and the immutable ledger make a solution possible. Nuggets is that solution.
Where are you based?
We’re based in London, UK. But we also have team members in Cambodia and across the US. Nuggets is a global platform with a global team.
When was the company launched?
Officially, Nuggets launched on 5th October 2016. But we’ve been developing the concept since the beginning of 2015.
What have been your biggest wins to date?
There have been many high points already, but the biggest was when the UK Financial Conduct Authority selected Nuggets for its Project Innovate regulatory sandbox. That enabled us to test the first working version of the product with consumers in the summer of 2017. The enthusiasm from users was incredible!
Who are you trying to attract to your product?
Everyone! Nuggets is all about the everyday user and solving real problems facing people and business right now. It acts like an on ramp to the future of payments, security and privacy, while addressing the current issues.
Businesses really see the value of not having to store valuable personal information – along with reduced fraud, false positives, chargebacks and regulatory exposure. And consumers are the immediate beneficiaries.
What tips would you give to others looking to build their business?
Work hard, stay focussed on what you’re trying to solve, and take lots of advice. Don’t be put off when others can’t always see what you can see.
Tell us about your team
We have an amazing team – and it’s growing! What’s most important is that they believe in what we’re trying to do: this is not so much a job, it’s a vocation.
It’s a diverse team, in terms of both origins and abilities, all united behind the shared goal of making things better for everyday people like ourselves.
I love the fact that anyone can and will have an idea that can contribute to a better end result – including people beyond the company. Often, the person coming in with a challenging question or comment can inspire a better product – which makes them an advocate. In that way, I’d like to think that all potential users are part of our extended team. As they say, the whole is greater than the sum of the parts.
— Nuggets (@nuggetsPAYandID) January 29, 2018
What are your plans for the future?
We are keen to develop our reach with global partners, so we can bring Nuggets to a mass audience. I’m a bit selfish in this respect, as I’m especially keen to reach the sectors that cause me the most pain!
Telcos and banks have a ton of security, payment and communication problems that users like me have to deal with on a daily basis. I’m keen to get them integrated, so I can start using them. I’m also on a mission to get rid of usernames and passwords on all levels. If I have to add one more username and password to get into an account, I’m going to scream. #PasswordsRIP.
What are your favourite tech gadgets?
Currently it’s my Bose Noise canceling headphones. Being digital nomads, we need the ability to work anywhere. Putting those headphones on is like being in your own office for the duration, never mind what chaos is going on outside. I just need a set of goggles that do the same for my sight and I could truly be in the zone! Maybe there’s an idea worth looking at?
What tech gadgets do you wish you could use to help you?
I can’t wait for Nuggets to be fully rolled out and omnipresent. Then I can move through life frictionlessly, without worrying about my privacy or security Nuggets.life.
— ChipIn (@Chipin) January 25, 2018
Anything else you’d like to add/we should have asked?
The things that’s amazed me most about working in startups and blockchain is the community. The help people are willing to give you, when they see what you are trying to do and they believe in it. I think it’s important to ask who or what you’re grateful for, as those people and opportunities can turn the tide of a project.
How do people get in touch with you?
The easiest way to contact us is probably to join our fast-growing community on Telegram. We have a website at nuggets.life, and you can join our token pre-sale at nuggets.tokenhub.com. We’re on Twitter too.