Review on SelfKey Wallet by Fanuel PORPORTY
Selfkey is trying to solve a tedious, but a universal problem of tedious KYC processes.
An open-source digital ID wallet where users can manage and securely access their identity attributes and documents from their own personal device(s). All of the documents relating to users' identity attributes will be stored locally in their devices, ensuring security, privacy and total control over their data. Additionally, the wallet also allows for the verification and notarization of personal documents via qualified certifiers.
A major feature of Selfkey's wallet is that users can seamlessly and efficiently access a variety of products and services – through Selfkey’s marketplace – much more quickly since the Selfkey wallet is a universal digital ID.
Pros
- Selfkey’s native token is called KEY (stands for Key-to-Encrypt-Yourself), an ERC 20 token built on the Ethererum blockchain. KEY is a utility token that serves as the main currency on the Selfkey network.
- Selfkey is developed at the back of KYC Chain, an established KYC solutions provider that already has the infrastructure, experience, and expertise in the KYC business.
- Selfkey has an extensive list of partners that will be the service providers building an application or using the KYC functionalities of the Selfkey ID. This is proof of traction of their development which is key to their success.
- Selfkey has currently identified 22 market categories in its marketplace. When completed, users will have access to a wide range of services using their digital ID.
Cons
- There are many competitors that are trying to solve the same problems as that has been around longer than Selfkey, such as Civic. However, the rate of development of competitors is progressing slowly and Selfkey has the advantage of being backed by a real business.
