Nuggets makes Internet of Things move

Blockchain e-commerce payments and ID platform, Nuggets, has announced a partnership with Internet of Things infrastructure company CPChain.

The two will work together to enable secure identity and payments from IoT consumers and merchants. “Nuggets is a consumer blockchain platform with the power to revolutionise payment, privacy and security under the background of GDPR in Europe. Together, we’ll build a more efficient, secure and private platform to exchange data, especially IoT data,” says Wayne Tian, Oversea Operation and PR Manager, CPChain.

The announcement closely follows the news that former Visa Managing Director Kevin Jenkins is now responsible for establishing Nuggets in Europe and for business development.

Jenkins, who has also held a leadership role at Mastercard, comments: “The current model of businesses holding personal information is broken. It needs fundamental change, study after study shows that customers are frustrated by the payments journey: the many steps they have to take, and the security fears.”

“For decades, the payments industry has been trying to achieve a balance between security and convenience. What impresses me so much about Nuggets is that it manages to optimise both. I’m convinced that every stakeholder in the payments ecosystem, from customers to retailers, will embrace Nuggets. I’m incredibly excited to be part of a genuine revolution.”

PayTech partnerships

The company has lined up a number of other partnerships in recent months, including agreements with Storiqa, a marketplace for buying and selling goods with cryptocurrencies, and QFPay, the Chinese payment provider that serves 800 million WeChat users and 400 million Alipay users.