More information about SELFKEY
About
SelfKey is a blockchain based self-sovereign identity system that allows individuals and companies to truly own, control and manage their digital identity, securely manage their cryptocurrency portfolio and instantly onboard onto financial, immigration and cryptocurrency services.
SelfKey brings a new identity management approach, a solution to the ongoing problems of vulnerable centralized identity management systems, tedious paper-based KYC processes and financial services accessibility.
Self-Hosted Data Storage
Secure identity assets and documents locally, avoiding the risk of massive data breaches.
Secure & Private Data Sharing
Share documents through a public/private key mechanism, so the identity owner can rest assured that shared data is only visible to third parties to whom they have given their consent.
Efficient KYC Processes
Data Minimization
Through a blockchain based verifiable claims protocol, identity owners can prove the specific ID attributes needed for a certain product or service without having to share the identity document itself.
One-Click Application
Make document intensive applications a breeze by proving your identity faster. Access a broad range of immigration, corporate, financial and cryptocurrency related services listed in our Marketplace with just a few clicks.
Secure Blockchain AssetsSecurely manage cryptocurrency assets, such as ETH, KEY and any ERC-20 Token.
The SelfKey Ecosystem
For Identity Owners
Take back control of your identity. Obtain greater privacy and security than in traditional databases which are vulnerable to hacks. Navigate KYC processes quickly and easily.
For Certifiers
SelfKey allows certifiers to swiftly grant and monetize certifications that are timebound and verifiable.
For Relying Parties
Save time and money with automated and internationally compliant KYC processes. Provide an excellent customer experience to identity owners by being able to onboard them in a fast & efficient manner.
The Community
The SelfKey Foundation and all its stakeholders envision a free world in which identity transactions are secure, private and decentralized. Where individuals truly own their own identity.
The SelfKey Foundation has been established for the advancement of human rights and fundamental freedoms related to data and digital identity.
Our team comprises of experts in the fields of Blockchain, Technology, Finance, Legal, Marketing and Design.
Our partners range from the most promising Fintech and Blockchain start-ups, to established and consolidated tier-1 global firms.
The KEY Token
The KEY token is an Ethereum ERC-20 compliant cryptographic token used for access rights and proof of reputation within the SelfKey Network. The KEY token is a trust mechanism that allows participants to exchange value within the SelfKey Ecosystem.
Trust & Reputation
Trust and reputation are the basic pillars of any identity system and mechanisms should be in place to incentivize good practices and behaviour, and avoid identity fraud, false attestations or misuse of identity data. Using Smart contracts technology, the KEY Token enables such mechanisms to eliminate any potential threat that could jeopardize confidence deposited by participants in the SelfKey Identity System.
Proof Of Reputational Stake
Identity Owners are required to place KEY tokens in a locked smart contract, also known as “staking”, to access the network.
The smart contract, automatically releases the staked tokens, once the identity owner decides to leave the SelfKey Ecosystem.
Staking KEY acts as a Sybil-attack prevention mechanism. Sybil attacks occur when a bad actor, creates a number of identities, whether false or stolen, to gain influence in the Ecosystem.
Any bad actor trying to game the network is required to stake a certain amount of KEY for each identity created. Furthermore, once a verifier detects the identity fraud, this bad actor will face a loss, as he will be unable to recover the staked tokens.
Bonded Notaries
Lawyers, notaries, accountants, solicitors, consulates, bank managers, governmental authorities or utility companies, among others, are eligible to be certifiers in the SelfKey Ecosystem.
To be a certifier, an eligible person is required to place certain amount of KEY in a locked smart contract, in the same way as how notaries work in the real world, where a notary has to post a surety bond with the government.
If the certifier makes an incorrect attestation, he would lose the tokens locked in the contract in favour of the relying party who has relied on the proven incorrect attestation.
Bonded notaries allows to give certain weight and value to the attestations, as well as to incentivize good practices and compensate any harm caused to the relying parties.
Furthermore, certifiers provide services under certain terms and conditions established by the SelfKey Foundation. If their behaviour or performance is not according to the terms and conditions agreed, they are at risk to lose their staked tokens.
Once a certifier decides to stop providing services in the ecosystem, his KEY tokens will be automatically returned.
Trust Framework
Identity Owners trust relying parties sharing their data and identity documents in order to access their products and services. The KEY Token is used as a mechanism to incentivize relying parties to act in accordance with this trust framework.
Relying parties are required to place KEY in a locked smart contract to offer their services within the SelfKey Marketplace.
If, for instance, a relying party misuses identity data provided by identity owners, it would lose tokens placed in the locked smart contract, which would represent an irrecoverable economic loss.
SelfKey brings a new identity management approach, a solution to the ongoing problems of vulnerable centralized identity management systems, tedious paper-based KYC processes and financial services accessibility.
Self-Hosted Data Storage
Secure identity assets and documents locally, avoiding the risk of massive data breaches.
Secure & Private Data Sharing
Share documents through a public/private key mechanism, so the identity owner can rest assured that shared data is only visible to third parties to whom they have given their consent.
Efficient KYC Processes
Data Minimization
Through a blockchain based verifiable claims protocol, identity owners can prove the specific ID attributes needed for a certain product or service without having to share the identity document itself.
One-Click Application
Make document intensive applications a breeze by proving your identity faster. Access a broad range of immigration, corporate, financial and cryptocurrency related services listed in our Marketplace with just a few clicks.
Secure Blockchain AssetsSecurely manage cryptocurrency assets, such as ETH, KEY and any ERC-20 Token.
The SelfKey Ecosystem
For Identity Owners
Take back control of your identity. Obtain greater privacy and security than in traditional databases which are vulnerable to hacks. Navigate KYC processes quickly and easily.
For Certifiers
SelfKey allows certifiers to swiftly grant and monetize certifications that are timebound and verifiable.
For Relying Parties
Save time and money with automated and internationally compliant KYC processes. Provide an excellent customer experience to identity owners by being able to onboard them in a fast & efficient manner.
The Community
The SelfKey Foundation and all its stakeholders envision a free world in which identity transactions are secure, private and decentralized. Where individuals truly own their own identity.
The SelfKey Foundation has been established for the advancement of human rights and fundamental freedoms related to data and digital identity.
Our team comprises of experts in the fields of Blockchain, Technology, Finance, Legal, Marketing and Design.
Our partners range from the most promising Fintech and Blockchain start-ups, to established and consolidated tier-1 global firms.
The KEY Token
The KEY token is an Ethereum ERC-20 compliant cryptographic token used for access rights and proof of reputation within the SelfKey Network. The KEY token is a trust mechanism that allows participants to exchange value within the SelfKey Ecosystem.
Trust & Reputation
Trust and reputation are the basic pillars of any identity system and mechanisms should be in place to incentivize good practices and behaviour, and avoid identity fraud, false attestations or misuse of identity data. Using Smart contracts technology, the KEY Token enables such mechanisms to eliminate any potential threat that could jeopardize confidence deposited by participants in the SelfKey Identity System.
Proof Of Reputational Stake
Identity Owners are required to place KEY tokens in a locked smart contract, also known as “staking”, to access the network.
The smart contract, automatically releases the staked tokens, once the identity owner decides to leave the SelfKey Ecosystem.
Staking KEY acts as a Sybil-attack prevention mechanism. Sybil attacks occur when a bad actor, creates a number of identities, whether false or stolen, to gain influence in the Ecosystem.
Any bad actor trying to game the network is required to stake a certain amount of KEY for each identity created. Furthermore, once a verifier detects the identity fraud, this bad actor will face a loss, as he will be unable to recover the staked tokens.
Bonded Notaries
Lawyers, notaries, accountants, solicitors, consulates, bank managers, governmental authorities or utility companies, among others, are eligible to be certifiers in the SelfKey Ecosystem.
To be a certifier, an eligible person is required to place certain amount of KEY in a locked smart contract, in the same way as how notaries work in the real world, where a notary has to post a surety bond with the government.
If the certifier makes an incorrect attestation, he would lose the tokens locked in the contract in favour of the relying party who has relied on the proven incorrect attestation.
Bonded notaries allows to give certain weight and value to the attestations, as well as to incentivize good practices and compensate any harm caused to the relying parties.
Furthermore, certifiers provide services under certain terms and conditions established by the SelfKey Foundation. If their behaviour or performance is not according to the terms and conditions agreed, they are at risk to lose their staked tokens.
Once a certifier decides to stop providing services in the ecosystem, his KEY tokens will be automatically returned.
Trust Framework
Identity Owners trust relying parties sharing their data and identity documents in order to access their products and services. The KEY Token is used as a mechanism to incentivize relying parties to act in accordance with this trust framework.
Relying parties are required to place KEY in a locked smart contract to offer their services within the SelfKey Marketplace.
If, for instance, a relying party misuses identity data provided by identity owners, it would lose tokens placed in the locked smart contract, which would represent an irrecoverable economic loss.
https://selfkey.org
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