After many months of hard work and testing, the SelfKey Foundation is excited to announce the public launch of their long-awaited SelfKey Identity Wallet Beta.
SelfKey is a platform built on the blockchain which empowers individuals to take control of their own digital identities and personal data. With the launch of their flagship product, they provide users with the capacity to manage their cryptocurrency portfolio as well as their ID assets.
SelfKey Wallet and KYC Feature
The Identity Wallet is available for download as a secure, entirely private desktop app from Thursday, June 28, 2018.
Anticipated to completely shake up the identity management industry, the Identity Wallet ensures that users are completely self-sovereign with regards to their data identity storage, providing them with the kind of security against data breaches that only blockchain can provide.
Their reusable KYC feature allows users to create a 2-part profile, in which personal documents (driver’s license, passport, utility bill, etc.) are stored to prove components of the user’s digital identity (name, address, tax ID numbers, etc.). Users will be able to set up the digital face of their identity, using an official passport or driver’s license photo, or even a selfie.
Best of all, all data and documents are stored locally, in the user’s private device. They can never be accessed or even shared without the user’s consent—a welcome upgrade from the way data has traditionally been managed.
In addition to its KYC and identity storage features, the Wallet also functions as a standard wallet — users can create and manage different Ethereum addresses and send, receive, and store ETH and KEY, as well as any ERC-20 tokens.
Notably, the SelfKey ID is not tied to the Wallet, so users can make anonymous transactions
SelfKey Marketplace and KEY Token
Another benefit the Identity Wallet will provide is access to the upcoming SelfKey Marketplace.
Once their SelfKey ID is set up, users will be able to use that ID to instantly apply for a myriad of services online, streamlining onboarding processes that have heretofore been done manually.
The Marketplace is still a few months coming, but once it is released it will offer a wide range of cryptocurrency, financial, and immigration services.
To access the marketplace SelfKey users will need to stake KEY tokens, SelfKey’s native PoS token, which will in turn go on to power the SelfKey ecosystem, incentivizing good behavior and enabling users to establish good reputations in the community.
SelfKey’s enormous potential for revolutionizing the digital identity space has been recognized across the board – evident in how $21.7 million worth of KEY tokens sold out in 11 minutes during their ICO. The resounding success of their token sale has led to a plethora of exciting partnerships with high-profile companies, including Kyber Network, a cryptocurrency exchange service, and Polymath, a blockchain securities platform.
Most recently, one of the world’s biggest cryptocurrency exchanges Binance has listed SelfKey’s KEY token. This will alert a huge amount of potential users to the platform, allowing interest to grow and really get the ball rolling, which should ultimately result in KEY increasing in value.
With this much great energy and expertise going into SelfKey’s development, there’s sure to be some key months coming up. And with the wallet release — one of SelfKey’s defining milestones — and Marketplace well on its way to being launched, SelfKey is definitely revving up for the rest of 2018.
Be one of the first to download the Identity Wallet here.