Review on Selfkey by Robiul Islam

Name: Selfkey
Item: Selfkey
Rating: 4

November 16, 2018

Very few ICO projects have the level of real world partnership and adoption…

Very few ICO projects have the level of real world partnership and adoption that SelfKey is expected to have. 
There were higher bonus tiers before the public presale, but there is an anti-dumping policy in place (i.e. in order to qualify for the highest bonus tier, half of the tokens are locked up for 6 months). Therefore, we believe there should be enough unmet demand for this project to have good short-term potential assuming the current market environment holds.
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Pros

SelfKey is a decentralized identity system whereby users can instantly verify their identity to access a variety of products and services such as financial services, exchanges, token sales, passport/citizenship registration, and more. With SelfKey, the pain of KYC onboarding will be eliminated. Users only need to enter their information once, and their information can used for any products on the SelfKey marketplace. SelfKey’s products include (1) an identity wallet, (2) a marketplace with over 300 products and services including residency and citizenship by investment, company incorporation, bank account set up, etc., and (3) a protocol and API built for KYC.KYC Chain, the company behind SelfKey, has been used to power KYC onboarding for different companies since 2013. KYC Chain has gone through 3 startup accelerators: Digital Ventures (setup by Siam Commercial Bank in Thailand), Accenture Fintech Lab, and Supercharger.

Cons

KEY tokens will be used to power the SelfKey network in a number of ways. Each member of the ecosystem, such as users, certifiers, and relying parties, will need to stake a certain amount of KEY tokens in order to participate. KEY tokens are also used for payments on the SelfKey platform. Example of uses include paying for request attestations, receiving identity claims, and paying for marketplace listings. As KEY tokens are needed for staking and transact on the SelfKey platform, the more usage and transaction the platform has, the more valuable KEY tokens should be.