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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Nuggets Partners With XYO to Keep e-Commerce Delivery Addresses Private

February 22, 2019

LONDON & SAN DIEGO--(BUSINESS WIRE)--Feb 22, 2019--, the blockchain-powered e-commerce and ID platform that removes the need for sharing personal or payment data with merchants, has today announced a partnership with , 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 e-commerce 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 minimizing 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.”

About Nuggets

Nuggets is an e-commerce payments and ID platform. It stores your personal and payment data securely in the blockchain, so you can make simple e-commerce payments and other transactions, without having to share your personal data with anyone – not even Nuggets. For more information please visit: https://nuggets.life/.

About XYO

Since 2012, we’ve developed trusted IoT technology that connects the digital world with the physical one. In 2018, we unveiled the XYO Network, the world’s first geospatial blockchain network backed with cryptography. With more than 1 million location-verifying beacons around the planet, our technology rivals the GPS network, and radically transforms the world’s leading industries. Partners include mapping giant Esri, FedEx Research Institute, Re/Max Mexico and Spaceflight Industries. XYO Advisors come from leading organizations including National Geographic and the World Economic Forum. For more information, visit us at www.xy.company and www.xyo.network.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190222005061/en/

CONTACT: XYO Media Contact

Larry Smalheiser

Head of Communications

XYO

larry@xyo.network

KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT INTERNET NETWORKS SECURITY MOBILE/WIRELESS RETAIL

SOURCE: XYO

Copyright Business Wire 2019.

PUB: 02/22/2019 09:00 AM/DISC: 02/22/2019 09:01 AM

http://www.businesswire.com/news/home/20190222005061/en