NFTs
ShardLab Launches ZK-Based Tool for Digital Identity and NFT Vouchers
Blockchain developer ShardLab has launched a new web application aimed at simplifying the distribution of vouchers in the form of NFTs.
ShardLab, a blockchain arm of venture capital firm web3 Hashedhas 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.
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 company says the launch follows a successful launch at Southeast Asia Blockchain Week 2024, where attendees were able to integrate NFT vouchers with point-of-sale (POS) systems at more than 60 restaurants and stores at ICONSIAM, a themed shopping mall in Bangkok.
“This implementation has demonstrated the practicality and efficiency of blockchain technology in a real-world retail environment,” says ShardLab.
The company noted that thanks to account abstraction and NFTs, ICONSIAM participants were able to redeem their vouchers natively by scanning a QR code, automatically deducting the voucher value from the account, without facing the 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.