LONDON--(BUSINESS WIRE)--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 personal data, today commenced the pre-sale phase of its digital token offering. The company also today released details about Nuggets and the Nuggets Token in a white paper available at https://nuggets.tokenhub.com.
“Nuggets is a groundbreaking tool which, quite simply, enables users to take back control of their personal data,” said Founder and CEO Alastair Johnson. “We believe it is a truly revolutionary application of blockchain technology that will help both businesses and consumers engage with their data in a simpler and safer way.”
Nuggets combines the security of blockchain encryption with biometric verification with the intention of rendering passwords effectively obsolete and giving users a secure ‘personal cloud’ of data in zero-knowledge storage. The platform is designed so that no third parties, including Nuggets, can access the user’s personal information. Transactions are encrypted within an immutable ledger with inherent trust principles to validate trust in both consumers and businesses.
Data security is in a critical state with both small scale and massive hacks and data breaches having compromised billions of personal records in 2017 alone, sometimes in a single incident. Nuggets, using the revolutionary power of blockchain technology, offers to solve this data security crisis with a safer and more reliable service. 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 aims to enabled “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 gained significant digital innovation experience as former global directors at Skype and Microsoft where they utilized their deep knowledge across technical production, large-scale commercialization and product development.
Seema Khinda Johnson, co-founder and COO, said: “Combining biometrics with the blockchain completely alters the way transactions are completed. Consumers will be able to use Nuggets as an option without having to remember user names and passwords, and businesses will be able to reduce regulatory issues by being spared the task of managing millions of consumer records. It is a true win-win for all parties.”
With an experienced 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.
In terms of total supply of Nuggets Tokens, Nuggets will issue 10 billion Nuggets Tokens at launch, with 3.5 billion sold during the pre-sale and public sale. Open to both US and non-US residents, pre-sale buyers are now able to purchase Nuggets Tokens at a 20 percent discount with a $25,000 minimum investment. 17.5 percent of all Nuggets Tokens will be available in the pre-sale with another 17.5 percent sold in the public sale, which is scheduled to start on November 14, 2017.
The proceeds from the token sale are intended to fund continued platform development, partnerships, launch and commercialization of Nuggets amongst other general corporate purporses.
The Nuggets 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.
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.
About The Argon Group
The Argon Group (the "Group") is an investment bank with a focus on digital finance - the emerging cryptocurrency and token-based capital markets. The Group provides financial advisory, placement, and technology services to companies seeking to raise equity, debt, and non-dilutive capital. The Group develops technical placement solutions, including digital tokens powered by advanced smart contracts, which Argon Group operates through a digital asset placement platform TokenHub.com. For more information, please email firstname.lastname@example.org, follow @theargongroup, visit www.argongroup.com.
Nothing herein constitutes an offer to sell, or the solicitation of an offer to buy, any tokens. Nuggets will publish a white paper, which you should read carefully and understand fully, including any updates. Every potential token purchaser will be required to undergo an on-boarding process that includes identity verification and certain other documentation, which you should read carefully and understand fully because you will be legal bound. Please make sure to consult with appropriate advisors and others.