NuID has launched the Nu Identity (NuID) Ecosystem to provide internet users with the ability to own and control their digital identity by using services built upon NuID’s foundational zero-knowledge authentication solution.
The Nu Identity Ecosystem is powered by Kii, a new utility token. The company is using LATOKEN as the launchpad for its IEO and will launch the token in partnership with The Kii Foundation.
Kii token holders will be the first to access the NuID ecosystem, which empowers users to choose what identifying data they want to share on the web, and to whom they share it.
Token holders can use Kii to register their authentication credentials on a public blockchain, issue data attestations, access future identity use cases within the ecosystem and more. This includes and is not limited to KYC and identity verification, credential issuance, healthcare records, digitized assets, education credentials, verified claims, and decentralized data storage.
“Such an ecosystem will provide users the ability to own, control, and permit the use of identity-related data efficiently and allow businesses to become ‘consumers’ of these identities and their associated metadata vs. the other way around. This in turn will increase the volume of more privacy-centric interactions on the web,” said Locke Brown, CEO and founder at NuID.
“We are flipping the data ownership dynamic, which benefits users and services. Companies don’t have to secure huge amounts of user data and users no longer have to share their sensitive, identifying information. In the next few years, vast amounts of personal data and credentials will be represented on a blockchain by a public identifier that reveals no user data, and cannot be backwards solved for the original secret,” adds Ibrahim Pataudi VP Business Development at NuID.