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Blockchain developer ShardLab has launched a new web app aimed at simplifying the distribution of coupons in the form of nfts.
ShardLab, a blockchain arm of web3 venture capital firm Hashed, has unveiled a web application that leverages account abstraction (AA) technology and zero-knowledge (ZK) proofs to simplify the use of decentralized identity and voucher distribution.
By leveraging zk technology, the app can confirm user identity without sharing private information. It also allows users to receive and redeem vouchers in the form of non-fungible tokens (nfts) via QR codes, ShardLab explained.
The firm says the launch followed a successful launch at Southeast Asia Blockchain Week 2024, where attendees were able to integrate nft vouchers with point-of-sale (POS) systems at over 60 restaurants and stores at ICONSIAM, a themed shopping mall in Bangkok.
“This implementation demonstrated the practicality and efficiency of blockchain technology in a real-world retail environment,” ShardLab said.
The firm noted that thanks to account abstraction and nfts, ICONSIAM attendees would be able to natively redeem their vouchers by scanning a QR code, automatically deducting the voucher amount from the invoice, without facing traditional hurdles linked to the use of smart contracts.
“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,” said Hojin Kim, CEO of ShardLab.
