Launch Of Identity Wallet Announced By SelfKey
After the most successful token sale in history occurred last month, powered by KYC – the last months have sold a total of roughly $21.7 Million worth of KEY Tokens. The sale only took eleven minutes, the system is now releasing its long time coming first product, the Identity Wallet. The product is their flagship, expected to be one of the biggest breakthrough products the management industry has ever seen.
The wallet by SelfKey is said to be private highly secure application for use on desktops. The purpose is to solve the problems that have been coming up with identity breaches, which are as of now tedious based on papers at KYC process, which in turn makes oversharing occur.
We are happy to announce that the SelfKey Identity Wallet Beta will be launched to the public on Thursday 28th June. Full details here >> https://t.co/5vq0PyxyTx
— SelfKey (@SelfKey) June 21, 2018
The new wallet uses self-hosting with data storage, which is keeping the power of the identity in the hands of the user, so it can be used with KYC. This gives owners the ability to leverage their personal identities to gain access to products and services. The wallet also runs on blockchain to further ensure security is tight and claims that it gives users the ability to prove their specific ID can be used for verification without giving their actual documents away.
As of next week, on Thursday, anyone who wants to use the features can build their own ID for the SelfKey Marketplace.
The market places is being released to the public in the following months to give instant access to the broad range of financial, cryptography services that are divided into more than ten vertical market places, each being released over time. SelfKey has a demo available for use right now.
During the previous months, many of the people on the marketplaces have been released, two in the Carribean, the global immigration service firm NTL Trust and various blockchain companies as well like Polymath, Kyber, and LEXIT.
The native token for SelfKey, KEY can be used to purchase goods and services on the marketplace – all done though proof-of-stake. This has been conceived of to stop bad actors while encouraging good practices, making the proof-of-reputation mechanism within the ecosystem.
Along with that, SelfKey’s wallet bet can be used to store cryptocurrency, receive it and exchange it for ETH, KEY and other ERC-20 Tokens. The cryptocurrency wallet isn’t actually tied to the SelfKey ID, this helps keep the user’s identity hidden.
The founder of the company also said this about the beta launch:
“After months of hard work, we are excited to launch the SelfKey Identity Wallet Beta and share our progress with the world. The launch of the wallet represents the kick-off of an application that we are building to disrupt the identity management industry. We are working on building an end-to-end identity ecosystem which does not only solve long-lasting problems that we are facing and suffering every day, it also opens a myriad of opportunities for our users to apply for wealth generating and protection services.
Our ultimate purpose as a Foundation is empowering individuals and organizations with the right tools to truly own and control their identity to find more freedom and privacy. This launch represents our commitment to achieve this purpose in the shortest possible time.”
For anyone who is interested in the SelfKey wallet Beta for Desktop, they can download on their website for Windows and Mac desktop devices coming next week on June 28th.
SelfKey is founded by one of the leaders of the industry, Edmund Lowell, backed by a team of more than sixty people. It’s based on the blockchain technology that is running across the world. There is a broad product and services range for the company. They can help with everything from bank accounts to token sales, cryptocurrency exchanges, and other ventures as well.
For more information about SelfKey and their mission, visit Selfkey.org or join in with the SelfKey Telegram community at https://t.me/selfkeyfoundation