Nuggets partners with XYO
Nuggets, the blockchain-powered ecommerce and ID platform that removes the need for sharing personal or payment data with merchants, has today announced a partnership with XYO, the technology bridging blockchain to the physical world. This partnership will simplify the entire retail purchase and delivery process and mark a major advance in e-commerce privacy.
The partnership means that Nuggets users – who can already make transactions without sharing personal or payment data with merchants – will not even need to share their delivery address with the courier or delivery company. It also enables retailers to deliver goods to the consumer at any location, not just a specific address. “Last-mile delivery” eats up more than half of all delivery costs, and retailers are keen to make it more efficient. The XYO network cryptographically verifies that the delivery has taken place. That event in the real world can trigger payment-on-delivery, restoring trust and re-aligning incentives between consumer and retailer.
Alastair Johnson, CEO and Founder of Nuggets, said: “This new partnership with XYO means we now provide users with a completely private end-to-end purchase and delivery process. They don’t need to share any personal information with any third parties at any point. This is the final piece in the puzzle of personal data privacy and security for ecommerce transactions.”
Thanks to this integration of the XYO platform, Nuggets users can share their location without inputting a particular address. Aggregators from the XYO network fetch answers from a decentralized set of devices and then, once consensus is reached on the right answer, feed these answers into a smart contract on the XYO network. The Nuggets platform then confirms acceptance by the correct recipient, avoiding the potential for chargebacks. This is verified via cryptographic proof of good actor, along with proof of delivery by the courier.
This system can be rolled out to work with the supply chain provenance of a genuine product, with non-fungible tokens providing proven transferable ownership.
The partnership also means delivery companies no longer need to store customer details, closing down another potential data leak. The advent of GDPR means this will be especially welcomed by companies looking to mitigate data breaches by minimising the volume of customer information they hold.
Arie Trouw, CEO and Co-Founder of XYO said: “We’re delighted to be working with Nuggets to bring true data privacy and security to the entire e-commerce purchase and delivery process. For too long, consumers have been forced to share personal data with companies at risk of data breach. Our partnership with Nuggets helps make that unnecessary, and keeps customer data where it should be: in the hands of the customer.”