Introducing Nexera ID – a smart wallet that will usher in a new era of blockchain adoption with a focus on privacy, security and self-storage

Utrecht, The Netherlands, 14 December 2022, Chainwire

AllianceBlockThe DeFi infrastructure hub that builds seamless gateways between decentralized and traditional finance has today unveiled another innovative solution – Nexera ID. Nexera ID is a breakthrough solution that uses a programmable smart wallet that promotes privacy, security and self-defense.

Nexera ID is a next-generation digital wallet designed to securely store your digital assets and identity information within a specific type of digital token called MetaNFT. Users can set up custom rules for transactions with their digital assets, when sharing personal information, and specify rules for wallet operations, including recovery options.

Built on top of the Nexera protocol, Nexera ID uses “soul-bound” MetaNFTs and inherits its flexibility and security to create a versatile, secure, self-sufficient smart wallet with advanced recovery features. Balances, credentials and rules are stored as attributes in a changeable and composable NFT standard that protects users’ privacy and creates a digital passport that makes it easier for both users and institutions to use or build solutions that will promote a new era of Web 3.0 adoption .

Nexera ID can be integrated with custodial, semi-custodial and non-custodial wallets and from existing social Web 2.0-based login platforms for easier on-boarding towards Web 3.0. The vast majority of web users already have at least one Web 2.0 identity, with Nexera ID the barrier to entry will be much lower while leveraging these existing identities as verifiable credentials and authentication methods. Users can set up multiple authentication methods and add multiple verifiable credentials—such as social media accounts, email addresses, phone numbers, hardware-based authentication tools, KYC reports, and more—and create privacy-preserving zero-knowledge credentials (ZKP) for authentication.

Users can also set up custom rules and restrictions for wallet, assets and identity information. Users can set transaction limits globally or per asset, set up multi-factor authentication, alerts and automated wallet locking. With verifiable credentials and authentication methods, users can specify that transactions should be verified via multiple methods. With recovery options available in the smart wallet, even when users’ mnemonics or hardware wallets are stolen, they can immediately pause all transactions and approvals on the wallet.

Being able to combine all these features into one simple and accessible solution for consumers is unprecedented, putting Nexera ID at the forefront of self-driving technology. Nexera ID is the first programmable smart wallet of its kind, and marks a revolutionary step forward for the industry.

Institutions and businesses can take advantage of Nexera’s ID integration with Know-Your-Transaction (KYT), Know-Your-Business (KYB) and Know-Your-Customer (KYC) verifications to authenticate and verify the user’s identity without sharing personal identifiable information through the use of ZKPs. These are enabled through an open source trustless identity verification (TIDV) technology, which interfaces with several KYC providers for user verification.

Builders and projects will be able to reduce time to market for their products and enable extensive scalability options, while being part of an ecosystem that enables easy cross-pollination of users, liquidity and information. This flexibility means developers can quickly adapt to the ever-changing landscape of blockchain, especially when it comes to regulation and compliance. Nexera ID is available to builders or developers via our SDK to integrate into their products, giving this access to everyone in the industry allows the benefits of security, privacy and self-storage to be standardized at greater speed and scale.

AllianceBlock co-founder and CEO, Rachid Ajaja, said: “Nexera ID solves some of the biggest challenges in space today around self-sovereignty, self-storage and privacy. This solution allows users, projects and institutions to have programmable smart wallets with multi-factor authentication and customize recovery rules in case of hack, lost private keys or mnemonics. Builders and developers can easily integrate Nexera ID to create interoperable solutions that make it easy to use their platforms and solutions. With Nexera ID, we are ushering in the next era of self-sovereignty, self-storage, security for digital assets and protection of users’ privacy. The launch of Nexera ID built on top of the Nexera protocol marks our biggest step forward in giving power back to users to protect their assets and privacy, and towards our larger mission to bridge the gap between decentralized and traditional finance.”

To promote greater adoption of DeFi, it is increasingly important to make Web 3.0 onboarding easier and simpler with secure, self-managing solutions that preserve user privacy. Nexera ID’s key features together give users full custody of their assets and identity, enable them to act with full sovereignty without relying on centralized intermediaries and allow them to set and comply with rules to be fully self-regulated. This combination sets the standard and raises the bar for self-custodial solutions for assets and decentralized identity, and when integrated by users and developers, will usher in a new era of blockchain adoption.

About AllianceBlock

AllianceBlock builds a bridge between decentralized finance and traditional finance, by remedying issues that exist in both spheres and linking them more closely together. AllianceBlock sees the future of finance as an integrated system where the best of two worlds can work together to increase capital flows and technological innovation.

Building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities worldwide with the tools they need for seamless access to the DeFi space.

Consult

Dan Edelstein
[email protected]