Nuggets ICO Review
Nuggets Life ICO (Nuggets Life) is a payment platform project with the function of user identification when paying for purchases in the field of electronic commerce. The storage of personal data in the blockroom excludes the risk of their leakage into the hands of third parties.
Companies and service providers will no longer have to spend large resources on protecting the personal information of their customers stored on centralized servers. Customers will be able to use the services of the network and make payments without worrying about privacy and security.
Goals and Project Team
Nuggets is a platform based on blockbuster technology, designed for the general public, capable of revolutionizing the system of payment, confidentiality and security in the field of e-commerce.
The project is aimed at solving the biggest problem for business on the Internet – ensuring the security of personal data. The name of the Nuggets system in English means “nugget”. The creator of the project, Alastair Johnson, chose it not accidentally. By this he wanted to emphasize that personal data of users will be reliably and carefully stored in the system, like “nuggets” in the bowels of the Earth.
The project is developed by the team, which includes, among others:
- Alastair Johnson (founder and CEO, for more than 25 years, engaged in entrepreneurship and innovative ideas in the field of digital innovation, has deep knowledge in technical, production and commercial areas, previously headed the global integrated development and marketing of products for Microsoft, Skype, Office, Xbox, Hololens, Disney, TED and BBC).
- Hinda Johnson (co-founder, has more than 18 years of strategic teamwork experience in large-scale commercial projects, has previously ensured the successful release of a number of products in many regions of the world for Skype and Microsoft).
- Adi Ben-Ari (Chief Technical Officer with 20 years of experience in the development and implementation of technology solutions, worked in telecommunications and fintech, a blockbuster expert, formerly co-founder of Applied Blockchain).
- Joshua J. Bow (senior development strategy consultant, responsible for developing new partnerships and technical advice, in 2014 founded Blackcoin, the world’s first crypto currency based on the PoS algorithm.
- Robert Seok (CFO with more than 18 years of experience, specializes in working with media and technical companies, has worked for such large organizations as KPMG, UBS, BT and Virgin Media).
What Problems Nuggets Intends to Solve
The creators of the project argue that their development is able to solve the following critical problems concerning consumers, manufacturers of products and service providers in the field of electronic commerce:
- threats of hacker attacks on databases;
- risk of abuse by companies of their customers’ personal data;
- Theft of funds from bank cards;
- risk of leakage of user identification information.
The authors of the project intend to:
- raise the level of trust between consumers and retailers;
- eliminate the need to remember users passwords from dozens of used sites;
- ensure the confidentiality of personal information, etc.
Advantages of Nuggets for Customers
The key benefits of using the platform include:
- the ability to use your favorite services without risk of trusting your personal data to third-party services;
- providing a high level of confidentiality and security due to block technology and data encryption algorithm;
- secure payments using centralized methods, including bank cards, as well as in the crypto currency;
- a single biometric identification system, replacing a lot of passwords and logins in various services;
- true Internet value (the more a client uses the Nuggets services, the more platform tokens he earns and then can spend them on paying for goods and services on the Internet);
- no risk of phishing, malicious attacks and other threats;
- the possibility of earning tokens with participation in the referral program;
- cross-platform system makes it available on Android, iOS, as well as on desktop and multiplatform operating systems.
Advantages of Nuggets for Companies
The use of current extensive and vulnerable customer databases reduces the level of trust in e-commerce and increases reputational risks. According to the authors of the platform Nuggets Life, their offspring can significantly reduce the losses from hacker attacks, false positives and fraudulent payments.
For the business industry on the Internet, the system offers maximum opportunities due to the convenience and security of block technology:
- reduction in the risk of fraud (in 2016 in the US, losses from fraudulent actions of intruders with bank cards and identity cards exceeded $ 16 billion);
- reducing the risk of false positives (in 2015 in the US, the losses from this problem amounted to more than $ 118 billion);
- reducing the risk of fraudulent payments (they account for up to 42% of losses from fraud with Internet payments);
- accessibility of payment with the help of fiat and digital money;
- single entry for customers using biometric technologies;
- no risk in checking the client’s credit history;
- secure transactions;
- determining the demand for certain products and services based on the analysis of anonymous behavioral data of clients;
- organization of a fast, convenient and reliable system of courier deliveries (the client confirms his identity with the help of biometric data).
Users will be able to receive platform tokens for registration, use, payments and identity verification using Nuggets Life technologies, and if they decide to share their information with other members of the network. The received coins will be used to pay for goods and services from merchants in the Nuggets ecosystem without the risk of personal information leakage.
The launch of the alpha version of the platform is expected in the I quarter of 2018 in the UK, and then in the US. In the future, the developers intend to explore the opportunities and prospects for establishing trade and financial partnerships in other markets of the world.
In the third quarter of 2018, it is planned to integrate the initial system of user identification and payment systems for key markets.
In the first quarter of 2019, developers intend to implement a single biometric system of user identification.
In the second quarter of 2019, the launch of near-field communication technology (NFC) is planned.
In the first quarter of 2020, a virtual payment card system will be launched.
Period and Conditions of ICO
Official site: nuggets.life
Telegram group: https://t.me/nuggetsblockchain
Public sale of tokens will begin on May 1, 2018. After launching the platform, developers will focus on creating an online effect among retailers and users and attracting more participants to the system. The total number of tokens NUG (standard ERC-20) platform will be 10 billion. For sale during the presale and the main stage will be allocated 3.5 billion coins.
Distribution of NUG tokens:
- for sale – 35%;
- for rewards and bonus programs – 30%;
- for a long-term reserve (at least 1 year) – 15%;
- for the development team – 15%;
- for legal, regulatory and other expenses – 5%.
Terms of preseeding and the basic period of the crowdsdale:
- accepted currencies – BTC, ETH and USD;
- the minimum amount of investments when paying in USD is $ 25,000 ($ 10,000 in the main period);
- the minimum amount of investment when paying in BTC or ETH – is absent;
- bonus – 20%;
- hard cap – $ 30 million;
- course – 1 NUG = $ 0.0069 ($ 0.0086 in the main period).
The Nuggets Life project is suitable for those who are interested in the inviolability of their personal information and often make purchases on the Internet. In this case, the blocking capabilities of the confidentiality plan implemented in this platform will be an excellent choice for them.
This platform is a good choice for e-commerce representatives who want to raise their level of trust in themselves and increase sales, attracting customers with safe, easy and quick access to their goods and services.
As for investment attractiveness, the token of this project is unlikely to take a leadership position in the crypto currency market. On the official website, not only is there no information about the intentions of its creators to bring the NUG token to the exchanges, but even discussion of this is prohibited!
This step, they are trying to abandon the impact on the value of the token by speculating in the market and prevent the possibility of earning it outside the Nuggets Life ecosystem. Their goals, of course, can be understood, but they are unlikely to please investors. The rest of the project looks impressive and attractive.