Selfkey Coin, the proprietary cryptocurrency of the blockchain-based Selfkey identity platform, is establishing new paradigms for managing identity data for individuals and organizations. Working with entities like Standard Chartered Bank and Bitmax exchange since 2014, Selfkey is redefining the KYC (Know Your Customer) process, adhering to the Self Sovereign Identity concept of individual ownership and control over one’s identity.
Selfkey’s Unique Wallet and Marketplace
The Selfkey wallet, an open-source, non-custodial wallet, enables users to securely manage both their digital assets and identities. The wallet facilitates access to the SelfKey marketplace where users can instantly apply for various services, including bank accounts and company incorporations, using KEY coin. Selfkey’s decentralized approach and the use of cryptographic technology aim to cut costs, boost security, and enhance the user experience over traditional KYC processes.
Highlighting its rapid success, Selfkey’s token sale in January 2018 reached its maximum cap within 11 minutes, raising 22 million dollars. The blockchain identity management market is set to flourish from 90.4 million dollars in 2018 to an estimated 2 billion dollars by 2023, showcasing a significant growth trajectory.
Regulatory Achievements and Secure Operations
The SelfKey Foundation has secured the Regulatory Sandbox License from the Mauritius Investment Board, a key milestone that aligns with its vision for digital identity ownership. Mauritius’s recognition of Selfkey underscores the project’s promise in a nation rapidly becoming a blockchain epicenter. Additionally, the SelfKey Marketplace demonstrates a commitment to transparency and user empowerment, while the native operation of users’ data ensures security against server breaches.
For those interested in investing in Selfkey, the coin is available on Binance, the largest crypto exchange by market cap, where it was listed on June 27, 2018. Investors can trade Selfkey coin against Bitcoin and Ethereum on this platform.