SelfKey puts you in control of your data
The idea behind SelfKey is simple: users should be at the center of their identity management process, a concept known as Self-Sovereign IDentity (SSID). We can escape from the legacy systems of paper-based documents and move into a digital identity with privacy, security, transparency and individual rights. With over 4 billion records exposed in hundreds of data breaches already in 2019, it’s clear that identity management is broken.
Building a rich identity ecosystem
SelfKey is building the solution: an open-source identity management system comprising several key components:
- The SelfKey Identity Wallet – This is where your journey begins. Here you can store your tokens, manage your identification documents, access the SelfKey Marketplace and create your SelfKey ID.
- The SelfKey Marketplace – Here you will find an ever expanding array of services including corporate banking, incorporation, personal banking, cryptocurrency exchanges (and soon: notaries, passports, translations)
- The KEY token – SelfKey’s native ERC20 utility token is the lifeblood of the ecosystem. It is used to pay for services in the Marketplace and is deeply ingrained in all future product development
- The SelfKey Extension – Partner sites integrate the SelfKey Extension in order to allow one-click login and registration – providing unparalleled speed and convenience.
Thanks for this growing identity ecosystem, the SelfKey community can increasingly protect personal information from hacks and data breaches. As importantly SelfKey users enjoy more privacy and control over their data, empowering not just individuals but corporations as well.
A curious and passionate community
At SelfKey we are incredibly lucky to have one of the most engaged and passionate communities in the crypto space. On Telegram, Reddit, and Social Media thousands of individuals and corporations come together to discuss the progress SelfKey is making in identity management.
Join us on our voyage
We’re constantly pushing boundaries and voyaging into new frontiers. That is why we refer to the SelfKey community as Astronauts – because we’re on journey to discover something better. To see progress we’ve made in recent years, make sure to check out our voyage reports.
How does SelfKey work?
A new user simply downloads the SelfKey Wallet on a Windows, MAC or Linux device. Identity data is only stored locally, on the device – giving you complete control over your data.
When the user downloads the SelfKey wallet, it is empty. The first thing that a user needs to store in this container is a public/private key pair (also known as a SelfKey). This SelfKey is the user’s digital “pen” that can be used to apply a unique digital signature. Because the private key is known only to the identity owner, whenever this digital signature is applied, it serves to authenticate and validate the owner’s identity to requesting parties confidentially and securely (without having to appear in person).
SelfKey has enormous benefits beyond a traditional username and password. Each SelfKey is unique to its owner. Where a username/password combination is stored in a third party’s database, a SelfKey user would never share their private key – this would always remain a secret to the user.
At this stage, no one–not even the SelfKey foundation–knows that this is the user’s container, or that the SelfKey number even exists. No other entity issued it, and it was created solely by the user. This is exactly what it means to be self-sovereign.
In order for SelfKey users to take advantage of the products and services available in the SelfKey marketplace, they will first need to create a SelfKey ID. This is a collection of attributes (e.g. name, date of birth, emai, etc.) which – once collected – can be reused for each provider listed in the marketplace.
Minimizing the amount of data which needs to be shared is safer both for the identity provider and the relying party. The identity owner does not share information which might be unnecessary or sensitive data – and the recipient doesn’t need to store it. This helps with both security and compliance with jurisdictional privacy law requirements.
The image below illustrates this point quite well:
Still curious? Here’s where to learn more:
Selfkey (KEY) is a cryptocurrency token and operates on the Ethereum platform. Selfkey has a current supply of 5,999,999,954 KEY with 2,868,184,470 KEY in circulation. The last known price of Selfkey is $0.001797 USDand is down 1.50% over the last 24 hours. It is currently trading on 15 active market(s) with $136,628 USDtraded over the last 24 hours.
(Data as of 9 Aug, 2019, CoinMarketCap.com)
SelfKey is building a blockchain-based identity system that allows identity owners to truly own, control and manage their digital identity. At the very heart of this individual freedom, lies control over our personal identity data. However, this information is stored in centralized databases, prone to data breaches and security hacks. As technology digitizes the world, outdated paper-drive systems cannot be relied upon. Blockchains allow us to build a more private, secure, and transparent identity system that respects our individual freedoms.
The first all-in-one desktop solution to manage your digital identity and your Ethereum Tokens. Download the SelfKey Identity Wallet Beta and take the first steps towards truly owning your identity.