ShardLab Unveils New Web App to Simplify Voucher Distribution as 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.

Web3 venture capital firm Hashed’s blockchain arm, ShardLab, has rolled out a new web application to simplify voucher distribution in the form of NFTs.

The application, which was successfully launched at Southeast Asia Blockchain Week 2024, simplifies the use of decentralized identity and voucher distribution by leveraging account abstraction (AA) and zero-knowledge proofs (ZK) technology.

According to ShardLab, the application can confirm user identity without sharing private information thanks to zk technology. It also allows users to receive and redeem vouchers in the form of non-fungible tokens (NFTs) via QR codes.

The launch came after attendees at the event were able to 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 said in a statement shared with Cointelegraph.

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.

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