NUVO Wallet addresses the significant challenge of financial and healthcare exclusion in rural India, particularly for the 447 million women who lack access to digital services. Recognizing that over 54% of women in this demographic do not own a smartphone, NUVO has developed a low-cost, patent-pending solution called NUVO SmartCards. These SmartCards provide digital enablement to the "last mile," offering a practical and affordable alternative to smartphones for managing essential personal data, thus bridging the digital divide and enabling access to critical services.
The platform promotes digital empowerment through a robust trust framework built on blockchain technology. Using a consent-based data exchange protocol, NUVO provides individuals with a personalized digital wallet to securely manage their identity, academic, work, financial, and health data. This system utilizes blockchain-verifiable credentials to ensure data integrity, authenticity, and immutability. By giving users complete ownership and control over their personal data, NUVO's self-sovereign identity approach enhances privacy and security.
For healthcare, the wallet links with the Ayushman Bharat Health Account (ABHA-ID), enabling individuals to securely store and share their medical records with service providers. Similarly, for financial inclusion, the platform allows individuals to build verifiable credit histories, skills, and asset ownership records, which can be used to access loans and other financial services. This system helps to build trust and stronger relationships between individuals and service providers by providing a verifiable record of their history, all while safeguarding privacy and dignity.
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