SelfKey is a blockchain based self-sovereign identity ecosystem that empowers individuals and companies to find more freedom, privacy and wealth through the full ownership of their digital identity.
SelfKey enables an identity wallet, with which individuals and companies can control and manage their personal data, securely manage their cryptocurrency portfolio, transact with certifiers and relying parties and easily and painlessly onboard onto financial, immigration and cryptocurrency related services.
The SelfKey Identity Wallet is a solution to the ongoing problems of vulnerable centralized identity management systems, tedious paper-based KYC processes and financial services accessibility, and is capable to:
-Secure identity attributes and documents locally, avoiding risk of massive data breaches.
-Share documents through a public/private key mechanism, so the identity owner can rest assured that shared data is only visible to third parties to whom he has given his consent.
-Create individual’s digital identity and request reusable identity attestations to qualified certifiers that can be shared multiple times with multiple service providers, avoiding repetitive and tedious KYC onboarding processes.
-Access a broad range of immigration, corporate, financial and cryptocurrency related services listed in a Marketplace. Initially these services will include: Exchange platforms, ICOs, incorporation, bank accounts, residency and citizenship by investment.
-Securely manage cryptocurrency assets
SelfKey also enables a concept called "verified claims". This concept allows for a person to prove something is verified by a trusted party without having to reveal the information itself. For instance, a person can prove he is American, without revealing the passport or ID itself. By sharing the claim only (instead of the document) the entire process becomes much safer.
Blockchain technology allows for these verified claims to be shared in a decentralized manner, without a central issuing authority, who would likely store the data in a large database that can be hacked.
Verified claims are reusable attestations that can be used to onboard onto services without having to share your all the information repeatedly.
The SelfKey ecosystem is powered by its native token KEY. The KEY token is an ERC-20 based cryptographic token used as access rights and payment unit within the SelfKey Network. The KEY token is designed to enable self-sovereign digital identity and onboarding to financial and immigration services in a simple and secure manner.
- Staking certain amount of Tokens will be required to unlock marketplaces
- Staking certain amount of Tokens will be required to onboard to certain services
- Staking certain amount of Tokens could be used to ask for a priority services.
- Products and services will be either wholly or partially priced in Tokens.
- Staking tokens will be required to provide services within the network - in the same way notaries need to post a surety bond.
- Certifications shall be paid in tokens.
- Staking tokens will be required to offer services within the network. In cases where a service provider cannot buy tokens (such as a Bank or a Utility company), the Foundation will stake the tokens on their behalf.
- Part of the services shall be priced in tokens.
SelfKey envisions a free world in which identity transactions are secure, private, without a central issuing authority and paper documents, so that, finally, individuals truly own their own identity.