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ShardLab launches ZK-based tool for digital identity and NFT vouchers

shardlab-launches-zk-based-tool-for-digital-identity-and-nft-vouchers
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ShardLab launches ZK-based tool for digital identity and NFT vouchers

Blockchain developer ShardLab has rolled out a new web application aimed at simplifying voucher distribution in the form of NFTs.

ShardLab, a blockchain arm of web3 venture capital firm Hashed, has unveiled a web application leveraging account abstraction (AA) and zero-knowledge proofs (ZK) technology to simplify the use of decentralized identity and voucher distribution.

Leveraging zk technology, the application 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 was the result of a successful release at the Southeast Asia Blockchain Week 2024, where attendees could integrate NFT vouchers with the point-of-sale (POS) systems at over 60 restaurants and shops 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 says.

The firm noted that thanks to account abstraction and NFTs, ICONSIAM’s attendees could natively redeem their vouchers by scanning a QR code, automatically deducting the voucher amount from the bill, without facing traditional hurdles tied to smart contract usage.

“By integrating cutting-edge technologies like zero-knowledge proofs and account abstraction, we are paving the way for a future where blockchain is not only secure but also straightforward and convenient for everyday users,” said Hojin Kim, CEO of ShardLab.