New Crypto Again, What is the Trending Selfkey (KEY) Crypto Coin
Rancakmedia.com – Selfkey (KEY) is one of the latest trending crypto coins on CoinMarketCap. In less than a week, when other crypto assets experienced a decline, this crypto asset was able to increase up to 30%.
Selfkey (KEY) is a platform that enables users to protect and maintain complete control over their identity in an era when identity theft is on the rise.
To find out about Selfkey's capabilities, we have put together an article for the benefit of readers and crypto lovers in this article.
What is Coin Selfkey (KEY)?
SelfKey is a blockchain-based identity management platform that enables users to store, secure and manage their sensitive data in a single location.
Identity theft is a growing concern in the United States, as the prevalence of this fraudulent activity has increased in recent years. SelfKey offers a safe and secure ecosystem for storing personal data and establishing a digital identity.
Additionally, the system hosts a marketplace for various financial services and products, enabling users and businesses to create decentralized bank accounts.
The aim is to streamline the Know Your Customer verification process by enabling users to confirm their digital identity with one click. Simultaneously, the system safeguards user identity and safeguards sensitive data and information. Apart from the Key token, the SelfKey wallet and marketplace are the two main components.
SelfKey Foundation is an organization that manages Selfkey (KEY) in collaboration with various stakeholders and investors, ensuring the sustainability of the ecosystem. They organize it according to the principle of self-sovereign identity. In other words, the core theme for network users is limiting risk by storing and managing sensitive data themselves.
SelfKey Coin Founder and History
SelfKey was founded and launched in 2017 by its sister company, KYC Chain. Edmund Lowell is the co-founder of KYC Chain and also the founder of SelfKey. The project is based in Mauritius and the team is quite extensive. Edmund Lowell and the team are currently working to find new members who will work on further development of the SelfKey identity management protocol.
The idea behind this project is to simplify the KYC process and protect the digital identities of individuals and companies. SelfKey has partnered with some of the leading names in the blockchain sector, such as Polymath and Kyber Network.