SelfKey (KEY) Review
An independent analysis on SelfKey (KEY)
Digital identity ownership and management on the blockchain
Summary
SelfKey is a Hong Kong based company that has created an integrated platform for the management and use of personal identification. The platform utilizes the blockchain to store necessary information which can then be used for an array of different interconnected services such as Citizenship, financial services transactions and much more.
Company overview
SelfKey has been in the ideation phase of the venture dating back to 2013 when the team began to create various solutions for identity verification and management. Since this time, SelfKey has released multiple consumer and B2B offerings in a bid to create an integrated identity system which can also act as a marketplace.
The team at SelfKey term the protocol developed as ‘Self-Sovereign Identity‘ (SSID).
Commercial & Technical Strategy
SelfKey seeks to implement a significant amount of functionality by Q4 2018. We anticipate that some of the most disruptive aspects of the venture include those which are linked to applications of government issued services such as passports, residency services and more.
Referring to the information found in the whitepaper, there are multiple releases of each functionality from Alpha to Beta and finally commercial.
2018 Q1
•SelfKey Desktop Alpha
•Token Sale and Crypto marketplace
•KEY used for notarization
2018 Q2
•Support for cyrptocurrency transactions
•Integration with crypto asset providers
•Fully Electronic claims
2018 Q3
•SelfKey Alpha launch
•Government and Utility partnerships
•Integration with Trusts Foundations, Residences and Passports
2018 Q4
•SelfKey SDK
•Fiat alternative for service
Roadmap
The roadmap is quite extensive and includes a high-level overview of the implementation strategy for 2019.
Token Use
The KEY tokens that are issued have several use cases within the SelfKey ecosystem.
•the token can be used for the application of services such as citizenship and residency
•KEY can be utilized for company incorporation and business services
•the tokens are also used for the verification of new services and KYC application for new token sales