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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

NuID Launches Ecosystem Fuelled by Kii Token to Empower Users with the Right to Control Their Digital Identity

September 20, 2022 GMT
NuID CEO & Founder, Locke Brown (Photo: Business Wire)
NuID CEO & Founder, Locke Brown (Photo: Business Wire)
NuID CEO & Founder, Locke Brown (Photo: Business Wire)
NuID CEO & Founder, Locke Brown (Photo: Business Wire)
NuID CEO & Founder, Locke Brown (Photo: Business Wire)

GEORGE TOWN, Cayman Islands--(BUSINESS WIRE)--Sep 20, 2022--

NuID, a decentralized identity and authentication solution, today announced the launch of the Nu Identity (NuID) Ecosystem.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220919005148/en/

NuID CEO & Founder, Locke Brown (Photo: Business Wire)

The ecosystem will 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 public sale of which will commence today. 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.

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“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.

To learn more about NuID please visit: www.nuid.io

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Disclaimer:

The Tokens should not be identified or construed as a security or financial instrument of any kind and potential purchasers should only purchase Tokens for its utility and in such quantities as will actually be used by such purchasers in the foreseeable future.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220919005148/en/

CONTACT: Julia MetaPR

julia@metapr.agencySarah MetaPR

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KEYWORD: CARIBBEAN CAYMAN ISLANDS BRAZIL SOUTH AMERICA ARGENTINA

INDUSTRY KEYWORD: DATA MANAGEMENT SECURITY TECHNOLOGY BLOCKCHAIN SOFTWARE INTERNET

SOURCE: NuID

Copyright Business Wire 2022.

PUB: 09/20/2022 03:00 PM/DISC: 09/20/2022 03:03 PM

http://www.businesswire.com/news/home/20220919005148/en