SelfKey is a blockchain-based platform that provides a self-sovereign identity system. It is designed to empower individuals and organizations to take back ownership of their identity data.

The SelfKey Identity Wallet forms the core of the SelfKey system. It is a free identity solution that allows users to securely store and manage private information like secret keys for SelfKey IDs and credentials. The wallet operates locally, meaning user data is stored on the user’s device, not on SelfKey’s servers. This ensures that even if SelfKey’s servers are hacked, user data remains unaffected.

SelfKey IDs form the basis of a user’s identity in the SelfKey system. Users can easily save all the information required for a KYC process in their wallet. This ID can be used to open a business abroad through the Incorporations Marketplace.

The SelfKey Marketplace provides access to a variety of services with full transparency on documentation requirements, cost, and total processing time. It is powered by the KEY token, the native cryptocurrency of the SelfKey ecosystem.

In addition to the Identity Wallet and Marketplace, SelfKey also offers a range of other services. These include the SelfKey ID App, which allows users to complete their SelfKey ID, and the Incorporations Marketplace, which allows users to start a new business, open a new bank account, or get documents notarized.

SelfKey’s approach to self-sovereign identity management is based on the principles of user sovereignty and privacy. By providing users with the tools to control their own identity data, SelfKey empowers users to take back control of their digital identity from Big Tech.

Main Features

SelfKey Identity Wallet

This is a free identity solution that allows users to securely store and manage their private information. The wallet operates locally, meaning user data is stored on the user’s device, not on SelfKey’s servers. This ensures that even if SelfKey’s servers are hacked, user data remains unaffected.

SelfKey Marketplace

The marketplace provides access to a variety of services with full transparency on documentation requirements, cost, and total processing time. It is powered by the KEY token, the native cryptocurrency of the SelfKey ecosystem.

Decentralized Apps

SelfKey offers a robust decentralized identity management solution for your DAPP. It works to enhance compliance while maintaining users’ privacy.

Login with SelfKey

This feature is an alternative to centralized data harvesting services such as ‘Login with Facebook’. It enables convenient consent, data sharing, and secure access to integrated partner platforms with just one click.

KYC-Chain

This feature gives you the ability to slowly migrate to future technologies, providing you with a bridge from where the world is today - to where the world is going tomorrow. It could be the last compliance system you’ll ever have to integrate.

Compliant Today, with a Technology Bridge to Tomorrow

SelfKey Network enables several technologies that will soon be demanded by regulators and customers alike. SelfKey enables both the sharing of today’s requirements (such as questions, documents, and data) but also verified credentials - cryptographically certain attestations which are legally binding and machine-readable.

Use cases and benefits of SelfKey’s Identity Tokens

The platform is built around the concept of tokenization, which is the process of converting sensitive data into non-sensitive equivalents, known as tokens. This process enhances data protection by reducing the risk associated with storing or transmitting sensitive information.

SelfKey’s protocol revolves around two tokens: KEY and SELF. KEY is a utility token that serves as a method of exchange for services within the SelfKey Protocol. It enables users to lock their credentials more securely and empowers members to govern the SelfKey DAO. The SELF token, on the other hand, is used to facilitate tracking of an individual’s locked credentials and their duration. SELF tokens serve as a metric for reputation measurement, strengthening legitimate credentials and helping identify illegitimate ones.

By locking KEY tokens on their credentials, users can mint SELF tokens. Locking credentials is a way for individuals to demonstrate confidence in the accuracy of their data, which in turn increases the validity of their credentials. This process prevents data breaches, identity theft, and unlawful attempts by malicious bots to infiltrate private online accounts and systems.

Another use case of SelfKey’s identity tokens is in the governance of the SelfKey DAO. The KEY token empowers members to govern the SelfKey DAO, providing a decentralized and democratic way of managing the platform. This allows users to have a say in the direction and development of the platform, fostering a sense of ownership and community.

SelfKey’s identity tokens also play a crucial role in reputation measurement. As users lock valid credentials, they accumulate reputation in the form of SELF tokens. This reputation system helps to strengthen legitimate credentials and identify illegitimate ones, enhancing the overall integrity and security of the platform.

SelfKey’s identity tokens also provide a way for users to monitor their locked credentials and reputation. This transparency empowers users to take charge of their digital identity and increase privacy protection.

Their identity tokens facilitate the exchange of services within the SelfKey Protocol. The KEY token can be used as a method of exchange for services, enabling users to access various features and services within the platform.

SelfKey’s identity tokens play a crucial role in the platform’s “identity mining” process. This process involves users locking valid credentials to mint SELF tokens, which in turn enhances platform security. This innovative approach to security leverages the power of blockchain technology to provide a secure and user-friendly solution for managing digital identities.

Highlights

• SelfKey’s identity tokens, KEY and SELF, form the core of its self-sovereign identity system, enhancing data protection and user privacy.
• KEY tokens serve as a method of exchange within the SelfKey Protocol, enabling users to access various services and securely lock their credentials.
• SELF tokens facilitate the tracking of an individual’s locked credentials and their duration, serving as a metric for reputation measurement within the platform.
• SelfKey’s identity tokens play a crucial role in enhancing digital security, preventing data breaches and identity theft by allowing users to lock their credentials.
• The tokens also empower users to participate in the governance of the SelfKey DAO, fostering a sense of ownership and community within the platform.
• Through a process known as “identity mining”, users can lock valid credentials to mint SELF tokens, which in turn enhances the overall security and integrity of the platform.