LONDON, JUNE 7, 2022 /PRNewswire/ — NEST®, the world’s first digital blockchain identity solution, introduces the Self-Sovereign Distributed Identity (SSDID) – a first-of-its-kind, confidential digital identity protocol. Through encrypted ownership, crypto and NFT lovers are given complete control, confidentiality, and provenance over all their digital assets across the Web3 environment. The NEST® solution offers an individual encryption capacity to essentially solve the problems of digital asset provenance, authentication, and fraud.
As a next-generation blockchain infrastructure with confidential, distributed identity and cross-chain asset control, NEST® enables a practical Web3 economy while addressing industry challenges through distributed ledger technology (DLT) identity control protocols. From NFTs to data asset management, NEST® users can confidentially create, authenticate, secure, earn and exchange digital assets or content using their own, personalized NEST® Self-Sovereign Distributed Identity. This solution also allows unlimited Zero-Knowledge Proof transactions and exchanges on almost any mainstream network.
A novel KYC/ AML process done in a confidential and decentralized manner
Creating an SSDID with NEST® equips users with a personal, hyper-encrypted digital identity – one that is completely decentralized thanks to its bespoke layer-zero blockchain. Users may understand the concept of the SSDID as similar to the traditional KYC and AML processes. However, the SSDID is uniquely constructed in a confidential and decentralized manner, allowing for user-led confidential controls, without the sacrificing of any personal data to centralized repositories. NEST® further caters to users’ choice and network selection by letting each decide how, where, and for what their full or partial digital identity may be used or disclosed.
Charles Anderson, Founder & CEO of NEST®, notes: “A common public misconception is that blockchain and smart contracts today somehow offer ironclad security and protection to participants. The truth is, billions of dollars worth of NFTs can easily be stolen within just a few clicks. Security and protection, provenance, and authentication have not yet been made either automatic or inherent. In other words, true ownership and control of digital identities and assets, even before transaction participation, has not been solved. That’s why NEST® has been painstakingly created for many years – to provide the missing piece that users require even before approaching Web3 as a tangible environment for participation.”
The first non-custodial omni-wallet to confidentially confer legal and real-world ownership
NEST® is set to launch the first-of-its-kind mobile app in the third quarter of 2022. While only available through invitation at the moment, the NEST® app permits an all-in-one non-custodial omni-wallet, for users’ real-world identity authentication. It is the one-stop application for open Web3 and metaverse control. The app is designed to help users instantly unlock their Web3 journey, enabling them to mint, authenticate, secure, swap, and socialize via NEST® and confidentially through the SSDID protocol.
The NEST® app is a proprietary Web3 app that allows users to instantly mint or swap NFTs on mainstream blockchain networks, including Avalanche, Binance Chain, Ethereum, Klaytn, Polygon, and Solana. With hyper-low gas fees, users can further authenticate and register NFTs using the NEST® AI digital artwork database, which attributes legal provenance and ownership rights. It also allows for blockchain-powered social media censorship-free posts and end-to-end encrypted messaging and calls. The NEST® app provides device-side encryption with private key-pairs control for the ultimate security and protection of users’ assets.
Exceeding the digital identity industry standard
As an official associate member of the Decentralized Identity Foundation (DIF) – the industry standard for structuring digital identity – NEST® constantly strives to exceed the current industry and privacy standards by providing users with a unique platform to tangibly hold proof of real-world ownership across the digital space, without compromising their confidentiality.
With NEST®, decentralization no longer means anonymous or unsecured. Its leading Web3 infrastructure ensures every user has individually authenticated control of their cross-chain activities.
NEST® is the next-gen blockchain infrastructure that sets the global standard for confidential, distributed identity, and cross-chain asset control. We believe that every person should have the power to have autonomous, independent, confidential control of their data and assets. Our self-sovereign distributed identity (SSDID) protocol allows individuals to ‘make choices personal’. From dynamic NFTs and minting to Omni-network access, NEST® provides the required infrastructure that makes Web3 genuinely accessible.
Founded in 2017, NEST® has offices in the UK, Singapore, Hong Kong, and India. The company is leading the charge to bring truly distributed controls and broadly accessible Web3 solutions to the world.
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