SelfKey

What is SelfKey?

SelfKey is a fast-growing blockchain DAO developing digital identity solutions. The DAO empowers individuals and corporations to take back ownership of their identity data.

---

Recent Video Interview

Main points of the interview:

• Edmund Lowell, founder of SelfKey, discussed his journey from law aspirations to digital identity solutions.
• The importance of individuals owning their data amidst increasing digitalization.
• SelfKey developed a decentralized identity wallet enabling secure data storage and transaction.
• SelfKey’s marketplace facilitating private, user-driven sign-ups for financial services.

---

Advancing Individual Freedoms & Rights

SelfKey is building a blockchain-based identity system that allows identity owners to truly own, control, and manage their digital identity. At the very heart of this individual freedom lies control over personal identity data. However, this information is stored in centralized databases, prone to data breaches and security hacks. As technology digitizes the world, outdated paper-driven systems cannot be relied upon. Blockchains allow the construction of a more private, secure, and transparent identity system that respects individual freedoms.

What is Self-Sovereign Identity?

Data is one of the most valuable assets in a digital world. Self-Sovereign identity puts you back in control of your personal data for more privacy and protection. Did you know that your data can be purchased without your permission? Your location, browsing history, purchase history, and financial habits can be bought by the highest bidder. Current identity management solutions can do little to protect you; they are vulnerable to data breaches and hacks. Take back the ownership of your personal data by using the SelfKey Wallet.

DAO Mission

SelfKey is a DAO developing innovation in digital identity management, empowering individuals (and corporations) to truly own, control, and manage their personal data. With data breaches happening every week, the DAO’s mission is to change how the world manages and processes identity transactions using blockchain technology. This will create a safer world where personal data and privacy are protected.

Digital Sovereignty on Web3/Metaverse

• Your SelfKey ID is non-custodial and Web 3.0/Metaverse ready. You are in full control of your data, documents, and digital assets.
• Become censorship-proof. Only you can delete your identity & assets, not Big Tech.
• Securely store and manage your digital identity, KYC documents, and other digital assets including NFTs.
• Unlock Access to web 3.0 platforms and DeFi marketplaces.
• A secure wallet for your KYC data and other assets.
• In a world first, keep your sensitive KYC data secure in your wallet and enjoy one-click verification for Web 3.0 Platforms, DeFi exchanges, Bank accounts, and more.

Use your SelfKey ID to build an empire in the real world, too. Start a new business, open a new bank account, or get documents notarized through the SelfKey Marketplace. Powered by the KEY token, the SelfKey Marketplace provides access to a variety of services with full transparency on documentation requirements, cost, and total processing time.

Why SelfKey?

SelfKey stands out as the leader in self-sovereign identity management for several key reasons. Firstly, users' data is stored locally, meaning it remains on their device rather than centralized servers, enhancing security and privacy. Secondly, the SelfKey Wallet is offered free of charge, making it accessible to a wide range of individuals seeking to take control of their digital identity. Additionally, the platform prioritizes the security of users' digital identities, employing robust measures to safeguard sensitive information. Moreover, SelfKey provides access to the Legal Wallet Service (LWS) and the Marketplace, offering a comprehensive suite of tools and services to further empower users in managing their identities. In understanding the concept of self-sovereign identity, SelfKey emphasizes the importance of individuals reclaiming ownership and control over their personal data, providing a secure and transparent solution to address this pressing need.

Project Development

SelfKey recognizes the critical importance of digital security within decentralized systems, acknowledging the unique challenges they pose. These challenges encompass preserving data integrity, upholding consensus integrity, mitigating network threats, safeguarding digital assets, and fostering trust among participants.

To address the risk of Sybil attacks, SelfKey advocates for robust preventive measures. This includes implementing strong identity verification mechanisms, Sybil resistance mechanisms such as proof-of-individuality locking protocols, and reputation systems. SelfKey also emphasizes the significance of consensus algorithms and randomized node selection in thwarting Sybil attacks. Additionally, network monitoring and analysis, community engagement, and regular auditing are vital components of a comprehensive defense strategy.

Despite the complexity of preventing Sybil attacks entirely, SelfKey emphasizes the importance of collective vigilance and community engagement in safeguarding the security and balance of decentralized systems. Through the integration of advanced AI technologies and active community participation, SelfKey endeavors to create a digital environment that prioritizes both security and convenience, ensuring a safer digital future for all.

SelfKey Price Analysis

As of November 24 2024 SelfKey has a marketcap of $22M. This is {{percentagefromath}} from its all time high of $0.04331005. In terms of its tokenomics, there's a total supply of 6B with 100% currently outstanding. Keep in mind SelfKey has a fully diluted value of $22M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.