2024 is going to be a transformational year!

We hope you’re well and enjoying the holiday season. As is customary at this time of year, we’ll look back at some of the highlights from the past 12 months and give you a sneak peek of what’s to come in 2024.

It’s been an incredible year in terms of product development and traction. We’re working with the Bank of England to design a privacy-preserving identity layer for the potential Digital Pound. For more on this, check out the CoinDesk article here.

We participated in Phase 2 of The Bank and International Settlement’s and the Bank of England’s Project Rosalind alongside Amazon, Bank of Canada, Barclays, and Mastercard. We customised the Nuggets identity and payment wallet to enable retail use cases utilising CBDC, to carry out e-commerce payments all without sharing and storing PII data.

Our product enabled:

• Creating a CBDC account
• Making a retail payment with a verifiable receipt
• Making a CBDC micropayment
• The ability to freeze, unfreeze, and delete a CBDC account

Then in September, we announced our inclusion in the first cohort of the European Blockchain Sandbox.

We’re implementing trusted European cross-border payments using Nuggets. Combining Verified Self-Sovereign Decentralized Identity (SSDID), Verifiable Credentials, Selective Disclosure, Zero Knowledge Proofs, Auditable Nuggets, and Blockchain we’re able to facilitate secure, efficient, and compliant remittances between individuals, businesses, or Governments in different European countries. All whilst meeting the requirements for AML, CTF, KYC regulation, and eIDAS2.

For more information visit the European Commission’s website here.

Gartner

Throughout the year we’ve also been mentioned in no less than five Gartner reports! These included Gartner’s Hype Cycle for Digital Identity, 2023 and Gartner’s Market Guide for Identity Verification, 2023.

The Hype Cycle report highlighted ‘Decentralized Identity’, ‘Verifiable Credentials’ and ‘Identity Wallets’ as categories with benefit ratings of Transformational and High.

Gartner defines ‘Transformational’ as enabling “new ways of doing business across industries that will result in major shifts in industry dynamics”.

And ‘High’ as enabling “new ways of performing horizontal or vertical processes that will result in significantly increased revenue or cost savings for an enterprise.”

The Identity Verification Report report covers how digital identity must be “secure, simple and — ideally — portable” and Nuggets was featured alongside Microsoft and IBM.

Thought leadership

Our founders continued to be invited to events around the world, sharing their insight and knowledge across identity, privacy, and payments. Involved in panels and discussions from January through to December, highlights included:

• Money 2020 in Amsterdam, discussing all things UX and consumer protection
• Coinbase London Meetup, covering all things crypto, web3, and tech
• Trust:Live event hosted by LexisNexis, discussing trust and digital identity
• The Women of web3 Summit, all about making web3 work for women
• Two techUK panels (Digital ID in the Finance Sector & Diversity and Inclusion in Digital ID)
• The Avalanche Summit II, discussing AML compliance in DeFi
• The European Identity and Cloud Conference, discussing the importance of identity and privacy and Digital Assets at the OpenWallet Deepdive Workshop.

We also became a member of the Trust Over IP Foundation in July and shared our commercialisation journey with the members of the Ecosystem Foundry group just two weeks ago.

Awards

Over the past few years, we’ve received an incredible amount of awards and recognition for our platform, and we’re always immensely proud when a renowned third party validates our work. This year was no different, and it began back in January when we were awarded Gold for “Best Mobile Authentication Solution” at the Juniper Research Telco Innovation Awards.

Nuggets was also included in Sifted’s list of early-stage startups to watch around the globe, and we were highlighted as one of the key wallet services in the web3 identity stack by 1kx.

Seema was named among 7 influential women shaping the future of crypto and web3 by Cointelegraph and was also featured in the Microsoft Alumni Network.

What a year!

We’d like to take this opportunity to thank everyone we met, spoke to, and worked alongside throughout the last 12 months — and it doesn’t stop there!

2024 looks set to be another big year, as we have a whole host of great plans in the pipeline. Here’s a quick preview of just some of the things we have scheduled for Q1 that we can let you in on at this stage…

• The launch of a new Partner Program and Nuggets Developer Network
• A new workshop offering for businesses looking to explore the possibilities of DSSI within their organisations
• The launch of a new podcast series — “Nuggets of Information”

Enjoy the holiday season, and we hope you have a restful break, and we look forward to catching up with you again in the new year.