Selfkey Coin is the native cryptocurrency of Selfkey, a blockchain-based identity platform. Selfkey technology offers a platform for individuals, companies, exchanges, fintech startups, and banks to manage their identity data. The team has been working on decentralized identity with companies such as Standard Chartered Bank, Bitmax exchange, EQIBank, and GSR since 2014.
What is Selfkey (KEY)?
Selfkey (KEY) aims to revolutionize the KYC onboarding process and remains faithful to the culture of Self Sovereign Identity, where every individual should own and control their own identity.
On the other hand, the SelfKey wallet is a free, open-source, non-custodial wallet that allows users to securely store and transmit both their digital assets and digital identities. Users can interact in the SelfKey marketplace, apply for real-world bank accounts or company formations with “one click,” and make payments with KEY coin.
According to the platform, a traditional KYC process is costly and often not secure because data is stored in centralized databases. SelfKey utilizes a decentralized approach and cryptographic technologies to significantly reduce the cost of an identity interaction, enhance security, and improve customer experience.
In addition, during its token sale in January 2018, Selfkey reached the “Public Sale Max Cap” in 11 minutes, achieving a sale of 22 million dollars. The blockchain identity management market is expected to grow from 90.4 million dollars in 2018 to 2 billion dollars by 2023, with an annual growth rate of 84.5%.
The SelfKey Foundation has also received the Regulatory Sandbox License (RSL) from the Mauritius Investment Board. This RSL license allows SelfKey to develop identity products with a higher level of regulatory certainty, in line with its mission to allow individuals to truly own and control their digital identities. Being approved by the Mauritius BOI reaffirms the project’s potential. Mauritius is becoming an international hub for blockchain initiatives, known as the “Ethereum Island.”
Moreover, the SelfKey Marketplace, powered by the KEY token and priced in USD, offers access to various services with complete transparency regarding documentation requirements, cost, and total transaction time.
Additionally, since Selfkey operates natively, users’ information is stored on their own devices. Thus, in the event of an attack on Selfkey’s servers, user information is not compromised. The fact that the Selfkey wallet is completely open-source and free is also considered an important feature.
How to Buy Selfkey Coin?
Selfkey Coin can be quickly, reliably, and easily purchased through Binance, the largest cryptocurrency trading platform by market cap, via Binance.
Selfkey coin, listed on Binance on June 27, 2018, meets users in KEY/BTC and KEY/ETH trading pairs.
