THEKEY: ICO Review

Today, the focus is shifting more to the online world that compared to the real world. We never know about the innovations that are about to pop right up. With each passing day, there is an evolution in the blockchain world and it is continuous. Well, not to strangle the fact that it is bringing along with it a lot of conveniences. Being a proud part of such platform helps in regulating and going alongside for the longest time now. The outreach of these technologies is growing and will continue to do so until the goal of providing ease to everyone is achieved. One such enhancement comes with THEKEY which aims at developing identity verification.

Introduction

THEKEY generally works as an identity verification tool by making efficient use of blockchain technology and big data. It looks ahead to create a platform that will help in emerging a PII i.e. personally identifiable information. This information will be authorized completely by the government employees.

The basic workflow is somewhat like this: THEKEY will first acquire the personally identifiable information from the authorities present in the government sector. Then, further, it will go along its way to put up this information on the blockchain world. This will reduce the chances of any kind of alteration to take place. Also, there is no way that one could edit the given data as they come directly from the major government sources.

As for now, THEKEY is running all its major projects in China. According to the current statistics, the company behind THEKEY has already waved a success path. It has so far, successfully collected the identities of 210 million people in more than 66 cities. Isn't that so amazing to hear?

How does it work?

The Blockchain Based Dynamic Multi-Dimension Identification is basically divided into two sections: DMI and Blockchain.

THEKEY makes sure that by any chance it is not possible to create a centralized solution. That is why it organizes the DMI platform under the Information provision.

This can drag us to thinking about the advantage out of it. Well, the deployment helps in getting rid of data duplication and authorization issues.

Secondly, the primary modules for the users are brought up to make the search process a lot easier.

If we now focus on the second branch i.e. the blockchain, it will help in bringing out the nodes architecture. The data is mostly stored in the nodes and these nodes are responsible for the transactions taking place. Blockchain plays the smart game and uses a cryptic algorithm for guaranteeing data security and safety.

Advantages of THEKEY

The three core and major advantages it aims to offer to its people are:

Trustworthy and Dependable Results: The data provided is gathered in very easy, inclusive, and in a precise manner. As mentioned already, all the data are already validated by the government agencies in advance.

Minimal Cost: THEKEY is doing all it can to reduce the cost related to the service. It intends to take all the advantage of the data that are available. This will reduce duplication, processing, and unnecessary authorization. As a result of this, there will be no extra and needless hidden cost involved for the same.

An Experience like never before: Apart from convenience, what users mostly look for is the experience they had when they used the service. That is what draws them more close to the services and the need for them to use it over again. THEKEY can read minds and surely does know the strategy. Thus, it ends up providing an experience to the users like ever.

Features

The platform of THEKEY is unique and provides the maximum benefits to its users. For the current situation, THEKEY provides the users with the facility to make use of their identity verification services in mobile payment system involving social insurance. With the help of the system, the customers will be able to receive any sort of payment from their concerned areas like from health insurance, or their pension.

Here are the running features of THEKEY

• So far, a total of 23 copyrights have been taken into account. This includes 15 patents which are totally and efficiently taken care by the SIPO of China.

• For the mobile payments system, there is an immense use of First-generation IDV process in the major two sectors of China. The next launching step of THEKEY is to establish itself in at least a total of 41 cities and taking in its shelter over 130 million people.

• It has the identity of more than 210 million people residing in a lot of cities which will be invigilated by the government officials. This is the building block of THEKEY where it looks to connect the data sources directly with the government.

• Six labs have also been set up all together along with the government agencies, banks, and insurance places to influence the THEKEY ecosystem.

Team

The team is led by Catherine who is the working CEO of THEKEY. She is known for the accomplishment that she has achieved and also for the title of "the best entrepreneur" that she received in the present year.

Another expert in the team is Ken HUANG and is serving here to look for the cybersecurity system. Jian WANG is the designated CBO of THEKEY and has excessive knowledge of big data.

These successful hands behind THEKEY have made it attain the enormous heights.

The Token Sale

The Pre-ICO for THEKEY is most likely to take place somewhere amidst the month of October and December 2017. The company is pretty forward in accepting all kinds of currencies and is taking up BTC, ETH, and NEO for the ongoing token sale. At the time of Pre-ICO, users will be able to take advantage of 50% bonuses as well.

The primary token sale is set to occur in the month of February 2018. However, the specific dates for the same have not come up yet.

In the token sale, the total supply of the tokens will be 10 million. Over 10 million RMB (Chinese currency) has already been successfully raised.

Conclusion

If we look at it with a positive vision, it is so far one of the best innovations that the blockchain world has come up with. Any investment made in this project is worth the money because of the tight privileges of security that it offers. The verification process remains intact and controlled by the government, thus, sparing us from "all" the extra thoughts of data loss and security. Well, there is still a lot of time and it will definitely be a boon for anyone who turns up for this brilliant innovation.

To know more visit:

Website: https://www.thekey.vip/

Authored By: Etheran

My Btalk name: https://bitcointalk.org/index.php?action=profile;u=1108165