London, United Kingdom–(Newsfile Corp. – November 19, 2021) – KwikTrust is proud to introduce the SuperNFT, the new global standard in non-fungible tokens (“NFTs”) that raises the bar for security, trust and reliability. The SuperNFT is capable of opening new asset classes across finance, deeds of ownership, and intellectual property storage. SuperNFT solves the three core problems inherent with current NFTs; identity, provenance, and security.
Today, NFTs have severe limitations which curtail growth in the sector tied to limitations in proof of ownership, lack of a clear audit trail, and centralized data storage. Broader adoption is stifled due to a lack of trust in blockchain technology. The SuperNFT seeks to build trust and open adoption for all.
KwikTrust is a next-generation blockchain e-validation platform that provides provenance and legal protection. The KwikTrust protocol enables validated identity, provenance and e-signatures to be locked and minted into non-fungible tokens. A unique feature of the protocol is the ability to process a wide array of media and file formats. Verification and signature can be provided in both private and public ecosystems. The protocol runs on the native KwikTrust token (KTX) for utility. The identity, content and e-signature-linked SuperNFT enables users to securely transfer and delegate ownership of assets. In addition, the SuperNFT also provides a legally binding, trusted and reliable mechanism for authenticating files.
The patent application has been filed for the KwikTrust protocol, systems and methods for producing a SuperNFT.
In terms of creation, SuperNFTs are minted on the KwikTrust platform utilizing the KwikTrust protocol composing a modular stack including IPFS, Hyperledger and an identity chain. The modular stack works with blockchain protocols to mint SuperNFTs, with the technology being blockchain agnostic.
All validated files that are locked together with the owner’s identity and embedded into the SuperNFT are managed by a decentralized storage system on an inter-planetary file system, to remove a central point of failure – creating a global decentralized database of ownership. If the SuperNFT is lost or stolen, provenance is established and ownership is restored; subject to reissue and legal due diligence.
When asked about the SuperNFT, Simon Read, CEO of KwikTrust, said, “NFTs still have a long way to go to reach mainstream adoption and they are still very much in their infancy, limited mainly to digital artworks and other collectibles. I think in the future the NFT market will open up into other asset classes; fractional ownership, intellectual property, stores of value, proof of ownership of physical assets, and financial instruments. However, we still need legislation to catch up, and established market leaders to be visionary and undertake pilots.”
Christina Ashley, CMO of KwikTrust, weighed in and said, “What’s incredible about the SuperNFT isn’t just the technology, it’s the wider implications of this NFT and their impact. The SuperNFT opens the doors to new asset classes across a variety of sectors and paves the way for greater adoption of NFTs as a whole.”
KwikTrust is the next generation e-validation platform, and the home of the Super-NFT, providing increased file security and creating secure transferable assets. The platform’s goal is to become the new global standard for signing and securing files, and transferring assets.
Conceived in 2019 and developed by graduates of the Oxford Blockchain programme, KwikTrust has an experienced and capable leadership team combined with an equally experienced advisory board, many of whom have a proven track record in building, scaling and exiting technology startups. KwikTrust partners include IBM, Capital Enterprise, Founder Institute, IDEALondon, CUDO, and Sum & Substance.
For more information, please contact:
Christina Ashley, KwikTrust Chief Marketing Officer
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104396
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