SelfKey and Uncloak Team Up To Handle KYC and Cybersecurity

The self-sovereign digital identity foundation SelfKey and the cyber security firm Uncloak have allied to work together and share their expertise in their respective specialties.

Uncloak, developed by UK IT security experts, is the world’s first blockchain-powered cyber threat solution putting businesses one step ahead of hackers. Currently running its ICO, Uncloak won a pitch competition at Ian Balina’s Crypto World Tour event in London earlier this month and will be having an AMA with the Top 10 Crypto Influencers the week of May 21.

Unlike any other solution on the market catered for small and large businesses, Uncloak runs on the EOS™ blockchain and uses cutting-edge Artificial Intelligence to scan both the public internet and dark web, coupled with a vast network of cybersecurity experts globally to investigate and recognize both existing and new cyber threats as they develop.

SelfKey provides a blockchain-based identity wallet that empowers individuals to control their identity data and documents at all times and instantly onboard onto cryptocurrency, financial, corporate, and immigration services. In addition, SelfKey founder, KYC-Chain Ltd., provides a compliance software for service providers to streamline KYC processes, making them faster and more efficient.

With SelfKey, users’ identities are stored locally in their devices and are only shared with their consent, avoiding potential massive data breaches. With KYC-Chain, Service providers are capable of onboarding customers easily while providing an outstanding customer experience and being compliant with the highest KYC/AML & CTF standards.

On the one hand, SelfKey has chosen Uncloak to conduct regular security audits in the SelfKey Identity Wallet. Edmund Lowell, Founder of SelfKey & KYC-Chain, states:

At SelfKey, data security is our top priority, this is why we work with several top-notch cybersecurity firms to regularly audit the SelfKey Wallet development and ensure that we provide a robust application free of bugs. We have chosen Uncloak, due to their experience in IT security, working with renowned companies. We are very satisfied with this partnership and we hope it will be the beginning of a lasting business relationship.

On the other hand, Uncloak will use SelfKey & KYC-Chain compliance software to conduct Bank Grade KYC processes to identify and screen both individuals and legal entities on their upcoming Token Sale, meeting the most demanding KYC/AML & CTF requirements.

To have Uncloak chosen by SelfKey is a testament to the innovative cyber security solutions that we run for businesses, and it is an absolute privilege to work with a best in class identity management provider in the capacity of  not only a customer but a supplier of innovative blockchain powered solutions.

SelfKey and Uncloak are two of the most exciting and innovative blockchain solutions in the industry.

SelfKey aims to make massive data breaches, such as those from Equifax and Facebook, a thing of the past, while allowing individuals and businesses to complete KYC processes instantly, with a Digital Identity Wallet, a re-usable KYC and a decentralized OAuth solution. Several exchanges, fintech and blockchain startups, immigration agents, corporate service providers and banks have already announced that they will use SelfKey’s digital ID solution.

In addition, just three months after completing its token sale, SelfKey has already launched a closed alpha of its Identity Wallet. Most of the application core functionalities have been tested by community members and have obtained excellent feedback. They are currently adding new features to the application with the aim of distributing a beta version among a thousand community members in the coming weeks.

About Uncloak

Formed by IT security experts and currently running its ICO, Uncloak is building an advanced cybersecurity management solution that places an emphasis upon the strength of the wider community to contribute to finding vulnerabilities through a blockchain-based mechanism unlike any available solution on the market.

Earlier this month Uncloak won a pitch competition at Ian Balina’s Crypto World Tour event in London, and they will be having an AMA with the Top 10 Crypto Influencers the week commencing May 21.

Uncloak uses an Artificial Intelligence (AI) based analytical tool for the intuitive, automated, and seamless performance of security checks that will make the highest cyber security standards available on a mass scale at a lower cost and with simple user end interaction.

Uncloak already has a working security vulnerability scanning demo product catered for testing an organisation’s computing infrastructure, and it is holding a token sale to enable the release of its first commercial application.

For more information about Uncloak visit their website or join their Telegram Channel to keep keep up to date with their latest news.

About SelfKey

Founded by industry leader Edmund Lowell and backed by a team of over 60 individuals, SelfKey is a blockchain-based digital identity system that puts individuals and companies in control of their personal data and gives them instant access to a broad range of products and services such as citizenship and residency by investment, company incorporation, bank accounts, fintech products, and cryptocurrency exchanges, among others.

For more information about SelfKey and their mission, visit the Selfkey website or join the SelfKey Telegram community.

Related: The Cambridge Analytica Effect And the Protection of Personal Data

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