The Kii Foundation supports the identity utility token Kii and the future KiiChain, a decentralized ledger optimized for upholding identity-related data. The Kii Foundation does not seek to control Kii, only to foster Kii’s advancements and the broader decentralized identity ecosystem it underpins.
Kii will underpin the Nu Identity Ecosystem based on NuID's live zero knowledge trustless authentication protocol. The ecosystem enables user-owned portable and verifiable identity built on NuID's zero knowledge trustless authentication protocol. Kii is an ERC20 token and will later migrate to be the native token for the KiiChain, an identity optimized persistence ledger for public reference parameters and attestation data.
The Problem With Digital Identity: Identity on the web today is broken because authentication is broken. The current identity model is both centralized and fragmented: centralized by services each holding large silos of user identity data and fragmented with users having to separately create identity profiles across every service they interact with. When a silo is compromised, all of the users within are compromised and each credential theft resulting from a silo’s security breach enables the next security breach, mass credential theft, and an inevitable perpetual cycle. The current state of authentication and digital identity prohibits users from having ownership and control over their own identity online.
NuID's Solution: Trusted digital identity requires a rock solid core for authentication. NuID is building a new paradigm of digital identity through trustless authentication for services and a portable, device-agnostic identity model for all users of the web. Individuals will represent their identities with their zero-knowledge authentication credentials, stored on a public blockchain; services will deploy the NuID trustless authentication solution. The interplay between individuals and services will grow a robust Nu Identity Ecosystem which will make the internet more secure, return data ownership to individuals, and release everyone from the limitations of the current model of authentication. Kii is the transactional utility token at the root of the Nu Identity Ecosystem. Demand for Kii is determined by the services that use it to register NuID authentication credentials for their users & from future identity use cases within the NuID ecosystem.