(PRESS RELEASE – Thailand, Bangkok, July 9, 2024)
FragmentLabHashed, the innovation arm of leading global venture capital firm Web3, announces the launch of its web application powered by Account Abstraction (AA) and Zero Knowledge (ZK) technology. This application presents a transformative way to utilize Decentralized Identity (DiD) and seamlessly distribute coupons.
Building on the success of Southeast Asia Blockchain Week (SEABW) 2024, where ShardLab showcased the potential of nfts for practical applications, this new application extends the utility of blockchain technology to everyday use. During the event, attendees experienced first-hand 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 seamless integration of nft vouchers with point-of-sale (POS) systems across ICONSIAM’s 60+ restaurants and stores. Guests 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, improving privacy and security.
– Payment with Web3 Digital Voucher: Users can receive and redeem QR code vouchers minted in nfts directly through the app, which are easily managed and used at participating locations, 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 app marks an important milestone on our path to mainstream blockchain adoption,” said Hojin Kim, CEO of ShardLab. “By integrating cutting-edge technologies such as zero-knowledge proofs and account abstraction, we are paving the way for a future where blockchain is not only secure, but also simple 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 application is a testament to blockchain’s potential to revolutionize industries by improving security, efficiency, and user experience.
About ShardLab
ShardLab is dedicated to fostering mass adoption of Web3 technologies in Southeast Asia. As the innovation arm of Hashed, ShardLab creates ecosystems and collaborations that create groundbreaking disruptions using Web3 technology, making it accessible and empowering communities in this dynamic digital frontier.
About Hashed
Hashed, a team of blockchain experts and developers based in multiple locations around the world, invests in and supports the development of blockchain and decentralized technologies. By participating as core technical contributors, Hashed accelerates the mass adoption of blockchain, transforming the global economy and the structure of the Internet.
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