Blockchain-based secure payments and identity verification platform Nuggets has joined the Payments Awards 2018 Hall of Fame, alongside Starling Bank, HSBC, NatWest and Just Eat having been named as the winner of the Consumer Anti-Fraud Security Solution of the Year at last night’s annual Payments Awards.
The awards which saw close to 150 of the biggest names in payments and fintech shortlisted across 24 categories, by independent judges from EY, Lloyds Banking Group, Barclays UK, KPMG and more were held last night at the London Marriott Hotel in Grosvenor Square.
Nuggets who were finalists in three categories, including Best Use of Biometrics and Blockchain Initiative of the Year were delighted to have scooped the title for Best Consumer Anti-Fraud Security Solution of the Year, for a platform that was designed specifically for consumers to protect themselves against the rapidly proliferating phenomenon of data breaches.
A solution to the failing asymmetry between merchants and consumers, where merchants collect and retain sensitive customer data in centralised databases, it leverages blockchain, biometrics and zero-knowledge storage technology to create a highly-secure vault that only the individual can access, so as to level the playing field. Payments can be made without the merchant ever needing to gain access to the customer’s details.
“We’re thrilled to have won such a prestigious award,” said Alastair Johnson, Founder and CEO of Nuggets. “Given the calibre of some of the contenders, we feel that the selection speaks volumes to the industry’s interest in Nuggets’ potential. Being put on par with vastly bigger companies like RBS and HSBC by independent experts is a testament to the need for a radical new payments infrastructure.”
The award win marks yet another addition to Nuggets’ recent success streak, having also been recognised at the MoneyAge awards.
Nuggets’ award-winning technology is currently being adopted by QFPay, the Chinese payments processor used by e-commerce heavyweights AliPay and WeChat, which, combined, boast a user base of 1.2 billion users.
On top of this, it has also teamed up with Storiqa, an innovator in the blockchain e-commerce space, and received backing from the Mayor of London, the City of London and the UK’s Department for International Trade.
The platform is available for download on both Android and iOS.