Review on Selfkey by francis fernandez
Selfkey: a tool for data, asset and document security
Selfkey is a platform that allows the development of identification systems based on the security offered by blockchain technology; since their transactions are recorded in the ledger in an immutable way.
Selfkey creates a digital economic system that monetizes identification data by offering this blockchain service to companies, institutions, financial entities and individuals as a solution to their security and privacy problems, through the KYC mechanism.
Token:
The token used by the platform is identified with the symbol KEY. This token is used as a payment value in exchange for receiving the services of the chain: requesting virtual products, adding companies, making exchanges, among other functions.
KEY is an ERC-20 token because it operates on the Ethereum chain. In addition, it allows executing the terms and conditions established in the smart contracts created on the Selfkey platform.
Cryptocurrency can be stored in Selfkey's native wallet completely free of charge and with the security of your identity and funds in an open source, decentralized and non-custodial application.
The main feature Selfkey offers is low cost data identity security thanks to the use of decentralized cryptographic resources.
Utilities:
• It is a window that allows access to foreign markets without barriers.
• It serves to maintain the privacy of the identification.
• Serves to save and manage documents and crypto assets.
• Allows to notarize documents
• Allows the configuration of business and personal accounts.
Pros
- It is a useful tool to create secure identification systems
- Allows the commercialization of identity data through cryptocurrencies
- It is a decentralized operating platform
- Gives the user control of their funds, data and valuable information
Cons
- The cryptocurrency has a volatile value.
