ShardLab Launches Innovative AA and ZK-Based Application for Digital Identity and Voucher Distribution

Thailand, Bangkok, July 9, 2024, Chainwire

ShardLab, the innovation arm of leading global venture capital firm Web3 Hashed, announces the launch of its Account Abstraction (AA) and Zero Knowledge (ZK) based web application. This application introduces a transformative way to leverage Decentralized Identity (DiD) and seamless voucher distribution.

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-based 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 seamlessly integrating NFT vouchers into the point-of-sale (POS) systems of over 60 restaurants and stores at ICONSIAM. Participants could easily redeem their vouchers by scanning a QR code that automatically deducted the voucher amount from their 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 app:

– Digital Identity Verification: Using zero-knowledge proofs (“ZKP”), the app allows users to confirm their identity without sharing private information, increasing privacy and security.

– Payment with Web3 digital voucher: Users can receive and redeem NFT-generated QR code coupons directly through the app. They can be easily managed and used at participating locations, simplifying the transaction process.

The application also includes an account abstraction (“AA”), making it user-friendly and accessible to a wide audience. Account abstraction simplifies the cryptocurrency wallet experience by allowing users to interact with blockchain applications with the ease of traditional digital wallets.

“The launch of this app marks a significant milestone in our journey towards widespread 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 combine blockchain technology with real-world applications. This new application is proof of blockchain’s potential to revolutionize industries by enhancing security, efficiency, and user experience.

About ShardLab

ShardLab is dedicated to supporting mass adoption of Web3 technologies in Southeast Asia. As the innovation arm of Hashed, ShardLab builds ecosystems and collaborations that deliver innovative disruption using Web3 technologies, 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 decentralized and blockchain technologies. By participating as major technical contributors, Hashed is accelerating the mass adoption of blockchain, transforming the global economy and the structure of the Internet.

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