On-chain Redemption of Phygital NFTs
Ermis is an on-chain redemption protocol which enables the redemption of phygital NFTs and the secure exchange of encrypted personal information to facilitate the safe transfer of its physical counterpart. Users exchange data with vendors on-chain while retaining full custody of their personal information and vendors are relieved of the associated risks and costs of having to store customer information safely. It opens up many exciting new opportunities for artists, galleries and art collectors around the world.
Redeem
Once a buyer has purchased a Phygital NFT, it can continue to be traded on the marketplace until someone wants to redeem it for the physical item.
Encrypt
During the Redemption process, the buyer provides the necessary information required for delivery of the physical item. This information is encrypted and stored on-chain.
Deliver
Only the vendor can decrypt the information provided on-chain by the buyer. The vendor then proceeds to ship the item to the buyer and provides tracking information.
Bridging the Digital and Physical Worlds
The Ermis protocol seamlessly connects the physical world to the digital Web3 space, leveraging blockchain technology for decentralized access. User privacy is protected by enabling on-chain exchange of encrypted information to facilitate decentralized exchange of sensitive data during physical goods transactions.
Physical artworks can have a digital counterpart as an NFT (Phygital NFT) and access the global reach and decentralized marketplaces of Web3. Ermis enables the secure exchange of personal information for physical item delivery after redeeming the Phygital NFT.
Trustless Exchange of Information On-Chain
Ermis Protocol is a lightweight protocol which utilizes blockchain technology to encrypt and store sensitive information on-chain. Ermis eliminates the need for a centralized third party to facilitate an exchange of information, leaving the customer in full control with whom they share their information.
By utilizing Ermis, customers can rest at ease knowing that their sensitive information is not being sold or shared for marketing purposes, or being stored in multiple unknown locations. Vendors can also rest assured by avoiding the need to store customer information and the potential risks associated with data breaches and removing the costs of compliance, storage and security.
