Blockchain
Exclusive Q&A with Alastair Johnson, CEO of Nuggets
Let’s start with your personal story. Our readers love to learn more about top entrepreneurs. Tell us about yourself. How have you become the person you are today?
AJ: I come from the North of the UK (The Midlands if you’re from further North). I learned respect and the value of teamwork at an early stage—a value I still apply to my work to this day. I went to Uni, developed my thinking, then after leaving got taken down a peg or two along the way. I started in tech during the last recession, which, as it turns out, is a handy training ground for the modern world. As an early adopter of the internet, I quickly rose to the challenge. I had my own tech business for a good number of years, and was fortunate enough to work with some of the best tech-heads in Skype and Microsoft. After bumping into the pain of privacy and security problems one too many times, I strived to find a better way.
I always liked the Jeff Bezos quote where he had to tell everyone what the internet was when he was starting Amazon. I know how he feels; it resembles the initial stages of blockchain.
You pride yourself on being a problem solver. Perhaps, Nuggets is a direct result of that trait. You have said that in other interviews. But could you share the details behind what led you to the idea behind Nuggets?
AJ: I had my personal and payment details used fraudulently and had to wait two weeks for a bit of plastic to turn up. After having to input my card number back into numerous services, I thought: “there has to be a better way than this.”
Always lead with the problem, not the tech or the product. Blockchain resolved many of the boxes that previous tech offerings hadn’t, allowing for a fundamental change in how personal data was stored, owned, and controlled. I was lucky to have a different perspective to those that had come before, and driven enough to set out on the journey that everyone else had shied away from.
The idea was great and the technology was ripe. But how hard was it to start and develop Nuggets? We would like to hear your struggles and victories?
AJ: I think one of the more recent examples is when it came time to self-quarantine amid the coronavirus outbreak. Coming to the realisation that I had been effectively self-isolating already, demonstrated how consumed I was by the work.
Nonetheless, it’s been an amazing journey of highs and lows. From having to explain, in the early days, what blockchain was and the potential it had (I feel you Jeff), to fantastic opportunities that I would have never been afforded if I wasn’t doing this. I’ve felt on top of the world and—sometimes—like I’ve been knocked off it, but I always end up with the need to do it all again the next day, with an almost evangelical zeal.
I now have a kinship of understanding and appreciation for anyone who has been a founder, big or small, and when you meet other founders, it’s like you’re talking the same language and an empathy that is hard to reach with others.
Nuggets’ motto is to “Take back control of your data”. Here are some novice’s doubts regarding the claim. First, wouldn’t it affect the data analytics thing that marketers and companies use a great deal at present?
AJ: You can still have behavioral data on the merchant or services side, which can bring benefits to both merchants and customers. We don’t believe, however, that you need to know my first dog’s name and my email to facilitate an order for socks. There’s still metadata available, but not the user’s personal data. Through reputation and provenance, greater value can be gained than ever before. The old model is broken—if the data breaches don’t teach you that, the regulator will.
Following on the previous question, second, is the data really safe when using Nuggets? Data has to be stored somewhere, the users’ devices, for example, which makes the data vulnerable. Isn’t it?
AJ: With Nuggets, the data is encrypted at the source, with a private key that only the user has access to—negating the use of usernames and passwords. The nuggets of information are encrypted individually, hashed on-chain, placed in decentralised storage, and atomised so only the private key holder can access and control them. We believe the future is going to be based around your identity—devices and products will simply act as an interface to the identity that travels with you. You will be your identity combined with multiple biometric verifications.
How have the users responded to this disruptive innovation? Could you tell us some stats about the customer reaction so far – both in terms of end-users and business providers?
AJ: We have had the most amazing response to Nuggets with tens of thousands of advocates. We’ve been approached by the top global banks, payment services, and merchants. And, to have the industry acknowledge the direction as well, has been amazing.
Nuggets has also won a number of high profile awards, including;
- The Blockchain Project of the Year at the FSTech Awards, beating HSBC and Commerzbank to the prize;
- The Best Innovation in Security Management award at the FDATA Open Finance Awards, after being recognized as the company that has done the most to protect consumer data.
- Shortlisted at the Europas Award for Hottest Tech Startup, and shortlisted for five awards categories at the Payments Awards — more nominations than any other company.
- They were one of only 10 out of 400 global businesses to make it into the final of UBS’s Future of Finance Challenge 2019, in the ‘Foundation Setting: Technology Enablement’ category.
- Finalist in the MoneyAge Awards for ‘Innovation in Consumer Finance’,
- Shortlisted for two payments awards alongside companies including HSBC and Mastercard for its use of biometrics and blockchain,
- Named winners of the Anti-Fraud or Security Solution of the Year 2018.
- Most Influential Women in Payments 2020 (not me, Seema)
- 10 best Payments Startups globally in Efma-Capgemini’s Financial NewTech Challenge 2020.
We usually focus on industry news related to gaming, betting and gambling. In what ways do you think Nuggets can be a game-changer for the gaming and gambling industry?
AJ: Like finance, the gaming industry is one of the most regulated in the world. Applying the same principles of identity verification, KYC, proof of age, verified payments with reputation and provenance, along with privacy and security, we are sure to make a resounding difference.
Just to clarify, what kind of technological adjustments do existing gambling, betting and igaming platforms have to make to incorporate Nuggets. Is it going to be seamless and quick?
AJ: Onboarding, Access, Payment, and Verification can be quickly executed through SDK, APIs, and micro service container models that make integration modular and easy.
We are going through a global business turmoil caused by the Corona outbreak. Once things get back to normal, how do you foresee the situation for block chain technology? Will a new beginning help block chain technology to gain more access and popularity? We would love to hear your views.
AJ: During times of upheaval, disruptors prevail. New technology has been proven time and time again to leapfrog the broken past in order to create a better future. Blockchain will be a part of that, along with other technologies—maybe even a sprinkle of 5G thrown into the mix.
About two years ago, you wrote an article that said “Europe has unbridled potential to become one of the leaders in fintech”? Has Europe lived up to your expectations? Do you still subscribe to this view or is there any change in estimate?
AJ: I still think the UK and Europe have some of the best potentials. This map of challenger banks by country globally shows that in 2016 the UK had 40 challenger banks. India, with the next biggest number, only had 8. This gives you a good idea of the potential in Europe compared to the rest of the world.
Blockchain
JuicyBet Launches Its Innovative GambleFi Platform
JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.
What is GambleFi?
GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.
How JuicyBet works
JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.
All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.
However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.
- First, the tokens provide access to betting.
- Second, token holders get their share of the platform’s profit.
- Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
- And finally, DAO participants can also perform the role of oracles for bets and earn rewards.
In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.
In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.
JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.
Blockchain
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.
Blockchain
After Crossing 100,000 Active Users, Hypeloot.com Announces The Launch of Its Utility Token $HPLT
Hypeloot was established in 2022 and has processed over 50 million bets for over 100.000 Users worldwide, being one of the fastest growing Cryptocurrency casinos, releasing new game modes almost every week and a recent surge in growth which is likely to accelerate.
Hypeloot Originals cross 50 million bets mark
With new game mode additions, the number of daily bets and also bets placed per user is increasing by the day. Hypeloot adds some of the most popular Casino games but is also not afraid to add an innovative touch to the platform by developing new games that are gaining a lot of popularity, for example, the Plinko game with a 100.000X multiplier, making it the first-ever Plinko game with this high of a multiplier which is not only something innovative for the Gambling industry but also a great marketing tool as users always try to chase high multipliers.
Hypeloot .com profit share with $HPLT holders
All $HPLT holders will indirectly profit from the rampant Hypeloot .com growth and its already increasing profitability via daily buyback & burn events. Hypeloot profits will automatically go towards purchasing $HPLT tokens on the open market and burning them right after – on a daily basis!
The Hypeloot $HPLT Token
The $HPLT Presale will start the 1st of February at 15:00 UTC directly on presale.Hypeloot .com, the presale is split into different stages in which the first investors get the cheapest possible price and are also eligible for the Hype NFTs which will be tradable right on token launch. 40% Of the total supply will go towards Presale contributors, rest is split between liquidity, marketing, team, airdrops and more. All Team tokens will be locked and vested on a transparent level.
Fueling The Hypeloot Ecosystem
Hypeloot is one of the only Crypto casinos offering Fiat payment gateways and all major payment providers making it easy for every user. On top of that, Hypeloot also currently offers all major Cryptocurrencies for deposits and withdrawals. All Games are 100% provably fair with an open and transparent guide on how to check each roll, the EOS and Chainlink Blockchain hashes are being used to generate 100% randomness.
Hype NFTs
Hype NFTs are the official NFTs of Hypeloot .com ($HPLT), it will initially only be available to presale contributors, on launch, these NFTs can then be traded, bought, sold and used on Hypeloot .com for free bets, staking pools, increased rakeback and much more. These NFTs are strictly limited and will not be minted more than the given supply.
Hypeloot .com Numbers and Outlook
Hypeloot has generated over $1 Million in revenue in 2023, given that regular slot and live casino games will be added soon, it is expected to have a significant surge in the coming weeks as this is anticipated by a lot of current users, this new addition also open the door to a lot of new user acquisition as well as higher profit per user given all the new game modes.
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