By Spencer Kellogg | USA
The blockchain has ushered in the third generation of the internet and with it, an entirely new set of requirements to participate and function in a worldwide economy and distributed online ecosystem. One of the most promising new technologies in the blockchain space is a Chinese company called THEKEY (www.THEKEY.vip) who have situated themselves as a leader in bringing your personal verifiable identity onto the internet. A decentralized app, THEKEY is built on the Neo blockchain and will provide an ecosystem to verify the identity of citizens in China and around the world. This technology has the opportunity to affect a number of different industries including healthcare, banking & shopping. Boasting national awards, a multitude of copyrights and some of the top leadership in tech-heavy China, THEKEY is situating itself as one of the more interesting investment opportunities of 2018. For non-US citizens, their initial coin offering will complete later this month (Sign Up Here) and with a hard cap valued at only 22 million USD, THEKEY could provide a substantial financial return for savvy investors while fulfilling a much-needed upgrade to our new digital economy.
The founder and CEO of THEKEY is Catherine Li. Recognized in 2017 as one of “The Top 10 influential Chinese women of the year,” Li and identity verification specialist Ken Huang have already garnered over 16 million dollars in presale funding illustrating the need for such a tool. Just this week Li was interviewed on CNBC (CEO Catherine Li on CNBC) where she made a case for the importance of verification tools on the blockchain. Without an identity protocol, Li argues that smart contracts could be denied. Li also points to the antiquated system used to verify identity on the internet today. Every time you buy something or need to sign a transaction there is a cumbersome and long process that must be repeated by individual users. THEKEY aims to revolutionize that process by using biometric data such as your thumbprint, iris or facial recognition to access key personal statistics.
More than a simple pie-in-the-sky idea, THEKEY is already being trialed in over 45 cities throughout China. Their intimate relationship with the Chinese government includes various state agencies including the Ministry of Human Resources, The Ministry of Civil Affairs and The National Bureau of Statistics, all working together to build a national credit system to provide data and ease of access to Chinese citizens for purchasing and verifying services. Their first generation application has collected data on more than 210 million people throughout 60 cities and at the moment their platform is being used to verify Social Security payments and healthcare reimbursements. In the future THEKEY promises to verify pensions, book flights, purchase goods online, and access bank accounts all through a simple verification model based on your personal data. Furthermore, in 2017 THE KEY was awarded the Golden Chain Award (Golden Chain Award) for most outstanding blockchain technology solution in China and they have obtained 23 copyrights and 15 patents through the State Intellectual Property Agency of the People’s Republic of China.
THEKEY also boasts serious corporate backing including some of the largest telecom and insurance conglomerates in China. Their primary investors include China Unicom, Ping An, China RE and the NEO Council which should allow ample financial liquidity while the company implements its second generation IDV solution. Socially, their telegram (telegram/THEKEY) already has over 20,000 subscribers with more interested investors joining every day. THEKEY will offer a public crowdsale of 51% of their entire supply of 10,000,000 tokens and like other NEO apps (Red Pulse & DeepBrain Chain) the token’s native language will be supported by Neon Wallet. According to the distribution plan which can be found on their website, 1 Bitcoin will be worth 1,000,000 TKY tokens bringing an initial valuation per token to around .015 cents, similar to the token distribution of DeepBrain Chain which has gained x44 value in only a month of trading. After distribution, THEKEY will begin trading live on Coinnest while the team finalizes deals with Binance, Bittrex, Kucoin and more.
With Apple’s recent launch of its new facial recognition software on their iPhone X, the time for more sophisticated identity protocols is quickly becoming a mainstream cultural adoption. With major corporate partnerships and a working relationship with the PRC, THEKEY seems amply positioned to take advantage of this burgeoning space. If you can participate in the ICO, I believe this application to be a great investment and technological opportunity and if you can’t get into the ICO keep your eyes on the exchanges listed above for TKY being listed for trading at the end of Q1 2018.
*This is not investment advice and I suggest all readers do their own research before committing to the project*