June 2022 – The Kii Foundation has announced their launch of the identity utility token Kii in partnership with NuID, a tech company developing authentication & digital identity solutions. Kii, which is slated to launch this June, will be the transactional token at the root of NuID’s initiative to develop the decentralized Nu Identity Ecosystem.
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The Kii Foundation was formed to aid with development efforts like advocating for Kii and its use in the Nu Identity Ecosystem, organizing a roadmap toward sustainable growth, and supporting the technologies and applications that depend on it.
NuID is a technology partner of The Kii Foundation, and is best known for pioneering a trustless authentication solution for enterprises and developers. Their solution utilizes zero knowledge proofs and distributed ledger technology, preventing the need for applications or platforms to store user passwords server-side. When deployed, this protocol eliminates the risk of mass credential breaches.
NuID has built upon their existing authentication solution to launch development of the Nu Identity Ecosystem along with the identity-optimized KiiChain, which will be underpinned by Kii. The ecosystem will include participation from services and individuals alike, providing portable, secure management and verification of online identities. Individuals will represent their identities with their zero-knowledge authentication credentials, stored on a public blockchain; services will deploy the NuID trustless authentication solution.
Individuals will be able to participate in the ecosystem by owning Kii, as Kii will pay the cost of registering credentials, issuing data attestations on a blockchain, and enabling future identity use-cases. As individuals verify their identities, and more enterprises deploy the authentication solution, this NuID-enabled identity ecosystem will grow.
Kii is launching this June, and the Nu Identity Ecosystem & KiiChain are in development. You can find Kii launch details or request to pre-purchase at https://kiichain.org.
The existing NuID trustless authentication solution is live and available for custom and self-deployments. The authentication solution will be switched to being paid for in Kii rather than USD in the near future, following the token launch.
Find NuID at their website and learn more about Kii and The Kii Foundation here. US residents and those in other Excluded Jurisdictions are excluded from participating in the global presale of Kii.
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