The Blockchain Digital Identity Foundation SelfKey continues to reach milestones and has begun to test the long-awaited SelfKey Identity Wallet with its community.
The SelfKey Identity Wallet is a desktop application that aims to solve current digital identity related problems, such as massive data breaches and tedious, unsecure and inefficient KYC processes by using blockchain technology, giving individuals the ability to create a reusable KYC profile only controlled by them and only shared with their consent.
Although the wallet is still in an alpha stage, testers will be able to create a SelfKey ID, a KYC profile that consists of two parts: attributes and documents.
Attributes are data points about a digital identity such as name, birthday, nationality, tax numbers, or email. Documents can be an ID card, driver's license, passport, utility bill, or bank statement, among others.
The wallet is secure by design, these attributes and documents are stored on the identity owner’s machine, and only shared with identity owner consent.
In addition, the wallet supports Ethereum-based tokens. Users can receive, manage and send ETH, KEY and any ERC-20 token and track their portfolio dollar value with the latest price information pulled in from CoinMarketCap API.
SelfKey is carrying out a controlled and phased distribution of the SelfKey Identity Wallet alpha version among its community to gather their feedback and improve the user experience for the product public release, which will include additional functionalities that are currently being tested internally.
The first testing group consists of 40 community members selected from a survey enabled two weeks ago. The application process remains open and SelfKey will keep adding community members to the testing group periodically.
“We are tremendously excited to start sharing the work done during these last months with our community. For us it is a very important step to know their opinion and it will serve us as a safe way to improve our product and make it more user-friendly. Although we are satisfied with the work done these last three months, this is only the beginning. We keep working very hard with our partners to integrate the SelfKey wallet with their platform, in addition to actively seeking new partnerships to increase the SelfKey Wallet and KEY token utility, and the value offered to our community as quickly as possible.” said SelfKey Founder Edmund Lowell.
SelfKey has been very active since it raised more than US$ 21m in its Token Sale. The company has provided its working product, a KYC onboarding web app, to a number of Token Sales, including Airswap, Aditus, Gatcoin, HoToKen, Invox Finance and CoinJanitor, among others.
It has also announced partnerships with relevant blockchain players such as Kyber Network, Polymath and LEXIT, and non-blockchain companies such as the investment immigration agent and corporate services provider NTL Trust and two Caribbean international banks, which are going to offer their services in the SelfKey Marketplace.
The marketplace is a functionality that is currently being tested internally, which will allow users to apply and go through an instant KYC process for a wide range of products and services, including, but not limited to, cryptocurrency exchange accounts, bank accounts, immigration by investment programs and company incorporation.
A demo of the Marketplace is available at the SelfKey official site to discover the potential that SelfKey has and the goals they plan to achieve.
Founded by industry leader, Edmund Lowell, and backed by a team of over 70 individuals, SelfKey is a blockchain-based digital identity system that puts individuals and companies in control of their personal data. Users can also access a broad range of products and services such as citizenship and residency by investment, company incorporation, fintech products, among others.