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ShardLab Launches Innovative AA and zk based App for Digital Identity and Voucher Distribution

External - Press Release

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ShardLab Launches Innovative AA and zk based App for Digital Identity and Voucher Distribution

Thailand, Bangkok, July 9th, 2024, Chainwire


ShardLab, the innovation arm of the leading global Web3 venture capital firm Hashed, is announcing the launch of its web application powered by account abstraction(AA) and zero-knowledge (zk) technology. This app introduces a transformative way to utilize decentralized identity (DiD) and distribute vouchers seamlessly.

Building on the success of the Southeast Asia Blockchain Week (SEABW) 2024, where ShardLab showcased the potential of NFTs for practical applications, this new app extends the utility of blockchain technology into everyday use. During the event, attendees experienced firsthand the convenience of blockchain-powered transactions with NFT vouchers at ICONSIAM, demonstrating the efficiency and security these technologies bring to real-world retail environments.

The user experience was further enhanced by the smooth integration of the NFT vouchers with the point-of-sale (POS) systems at over 60 restaurants and shops at ICONSIAM. Attendees could easily redeem their vouchers by scanning a QR code, which automatically deducted the voucher amount from the bill. This implementation demonstrated the practicality and efficiency of blockchain technology in a real-world retail environment.

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Features of the official SEABW Application:

- Digital Identity Verification: Leveraging zero-knowledge proofs (“ZKP”), the app allows users to confirm their identity without sharing private information, enhancing privacy and security.

- Web3 Digital Voucher Payment: Users can receive and redeem vouchers in QR code minted in NFT, directly through the app, which are easily managed and used at participating venues, simplifying the transaction process.

The app also incorporates account abstraction (“AA”), making it user-friendly and accessible to a broad audience. Account abstraction simplifies the crypto wallet experience, allowing users to interact with blockchain applications with the ease of traditional digital wallets.

"The launch of this application marks a significant milestone in our journey towards mainstream blockchain adoption," said Hojin Kim, CEO of ShardLab. "By integrating cutting-edge technologies like zero-knowledge proofs and account abstraction, we are paving the way for a future where blockchain is not only secure but also straightforward and convenient for everyday users."

ShardLab continues to lead the development of innovative solutions that bridge the gap between blockchain technology and real-world applications. This new app is a testament to the potential of blockchain to revolutionize industries by enhancing security, efficiency, and user experience.

About ShardLab

ShardLab is dedicated to fostering mass adoption of Web3 technologies in Southeast Asia. As an innovation arm of Hashed, ShardLab builds ecosystems and collaborations that bring innovative disruptions using Web3 technology, making it accessible and empowering communities in this dynamic digital frontier.

About Hashed

Hashed, a team of blockchain experts and builders based in multiple global locations, invests in and supports the development of decentralized and blockchain technologies. By participating as core technical contributors, Hashed accelerates the mass adoption of blockchain, transforming the global economy and the internet's fabric.




Contact

Mr T
info@shardlab.com

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