What is SelfKey?
SelfKey is a personal identification system created by Ethereum's Blockchain technology in the digital age, with the aim of creating digital data for individuals to be more secure, and can help individuals manage and control their own information. And in order to use such personal data in the financial services integrated in the project, it is expected to use such data to access more than 250 integrated products and services.
What is the project trying to achieve?
SelfKey brings decentralization to personal data management by allowing users to store their ID attributes and related documents on their own devices, not on SelfKey's servers or on Blockchain. Users can then decide what, when and with whom their personal data is shared securely. No one will have access to your personal information without your consent. This is what SelfKey calls a “self-sovereign identity” (SSID).
SelfKey is a system built on an open platform that includes the following main components:
- SelfKey Foundation: is a non-profit organization that runs the system
Identity Wallet (allows users to request confirmation of a document certificate) and Marketplace Electronic Exchange (allows users to purchase products and services)
- JSON-LD Protocol: Used to connect to third-party format services that comply with KYC laws and regulations.
- Token “KEY”: Is the main coin of the SelfKey ecosystem, used to exchange value and information in an efficient, digital, autonomous way.
What is unique selling point?
Using the SelfKey system makes the whole KYC verification process much simpler and easier. Specifically, it allows validators and identity holders to handle transactions containing sensitive data in a more secure, private manner.
The system comes with an Identity Wallet that provides users with secure access to their ID properties and documents. Not only that, the wallet also allows verification and notarization of personal documents through qualified certificates. Other important attributes of this storage module include:
- Easily manage one's crypto portfolio
- Receive, store and send ETH or any ERC-20 token with the click of a button.
In addition, SelfKey has its own marketplace with over 300 products and services offered. Some of the listed services that can be provided to users include:
- Buy a second passport
- Establishing a business or a start-up joint venture
- Open a new bank account
- Trade cryptocurrencies or participate in a token sale event.
Through the use of its sharing protocols, this SelfKey allows users to exchange their personal documents with certified notaries to receive certificates of identity and to reuse certificates. form. All of this can be done quite simply through the use of one's cell phone or any other handheld device.
Finally, since all one's data and documents are stored locally and not in a centralized server, users can be sure that no third-party agents have access to their information. his believe.
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