THELOGICALINDIAN - n-a
Digital identification is a axial angle of activity in the 21st century. Growth abstracts for the character analysis (IDV) industry adumbrate a 14 billion dollar bazaar appraisal by 2021, with technologies like fingerprint scans and facial acceptance bound acceptable commonplace. In our accustomed lives, we charge consistently verify our character to backpack out accepted tasks such as authoritative payments, demography flights or application bloom insurance. Still, the technology is abounding with faults; issues of abstracts aegis and character annexation amount consumers billions of dollars per year. Creating a absolutely secure, acceptable identification arrangement sounds like an impossibility at this stage, but with blockchain technology, THEKEY ICO has set out to do aloof that.
THEKEY is a additional generation, onchain character analysis band-aid that uses claimed abstracts accurate by the Chinese government for absolute apple applications. The basal Blockchain based Dynamic Multi-Dimension Identification (BDMI) technology is an onchain addendum of an absolute IDV activity led by THEKEY CEO Catherine Li. Built on the NEO platform, THEYKEY ICO is yet addition allotment of the arising NEO Smart Economy to hit the market.
Within THEKEY Ecosystem, there are three parties:
(1) Validators who action the character analysis appeal and accomplish the IDV result
(2) Service Providers who admit IDV appeal
(3) Individual Users
Users, who are barter of the Service Providers, charge accommodate accord to Validators to
process anniversary IDV request. The accomplished action is facilitated by THEKEY Badge (TKY), an NEP-5 token. To allegorize how the ecosystem functions:
An Individual User pays a bloom affliction provider TKY to abide a bloom allowance claim. The account provider pays TKY to Validators to acquirement their IDV service. Any new abstracts that Validators aggregate from the acquiescence utilizes TKY to the barter abstracts with added Validators (for which they charge additionally pay Individual User to do) and any new abstracts from the Individual User (such as medical almanac updates) is adored to the User with TKY. Below is a diagram from the whitepaper as an illustration:
TKY derives amount from the action of abstracts disclosure, validation and barter that occurs aural the system. Individual Users will authority TKY to pay Service Providers whenever character analysis is necessary. Service Providers accrue the badge from users and are incentivized to authority and absorb TKY to validate the character of their customers, while Validators are adored for their role in processing those requests and will additionally use TKY to barter advice and atone Users for new advice that is fed into the ecosystem. In this manner, anniversary affair aural the ecosystem has an allurement to accrue and absorb TKY.
Founder and CEO, Catherine (Xueli) Li’s ability rests at the circle amid computer science, abstracts analytics and healthcare. She is a accountant physician angry healthcare abstracts systems manager. She’s formed with IMS Healthcare, best afresh as a chief manager, for about a decade. As of two years ago, she has been CEO of Ebaonet Healthcare Information Technology, the aggregation which implemented the offchain IDV tech belvedere that became THEKEY.
On December 21st (today’s date of publishing), VP Chief Blockchain Expert at Huawei, Ken Huang, is now confined as President of THEKEY. With a solid articulation amid the activity and the better telecom accessories architect in the world, the activity stands to accretion awfully from Ken’s ability and connections.
CBO, Jian Wang, has been on the frontline of the Chinese government’s development of blockchain technology for over three years. He is a aboriginal bearing developer of the Linux based accessible antecedent Hyperledger and additionally developed 12 dApps over the accomplished three years for burghal and bigoted governments in Nanjing and Jiangsu. Jian is arch the development of the BDMI technology.
Guochun Xu is THEKEY’s CTO, amenable for artefact planning and development. He spent 10 years with China Unicom as a artisan and has 8 years acquaintance in abstruse management. He’s already auspiciously led the aggregation amenable for the offchain deployment of THEKEY’s IDV technology.
Blockchain projects that set out to arch already absolute offchain technologies with onchain platforms tend to action added able all-embracing prospects. With THEKEY, the IDV tech ambit are a backpack over of Ebaonet Healthcare Information Technology’s aboriginal efforts to apparatus an internet based IDV belvedere based on Dynamic Multi-dimension Identification Technology. THEKEY ICO is an onchain adaptation of the aforementioned technology, accumulation the avant-garde attributes of the IDV belvedere with the security, scalability and bounden appearance of the onchain protocol.
THEKEY’s IDV pilot activity application government abstracts is already operating in two Chinese cities. Customers use the arrangement to accept alimony payments and healthcare allowance reimbursements. Efforts are underway to calibration the deployment of the IDV activity in dozens added cities, with the ambition to accommodate the absolute offchain basement with the onchain agreement after in 2024 back the artefact is ready. The acknowledged ascent of the offchain artefact speaks to the able attributes of the business model.
As for added applications above the government, China Unicom and China Minsheng Bank accept active affiliation agreements with THEKEY to advance the technology for KYC. According to a contempo AMA with Catherine Li, there are added partnerships in the works as well. More partnerships beyond assorted sectors increases the anticipation of the product’s all-embracing success, as its account is activated beyond the market.
The basal abstraction of THEKEY is akin with several added character analysis players like Civic and Selfkey. Crucially, however, THEKEY has a ballast on the Chinese market. It’s broadly accepted that the Chinese government protects acquaintance tech companies from adopted competition, and for this reason, we see Civic and Selfkey as presenting little claiming to THEKEY in the Chinese bazaar
Collaboration with authoritative bodies can be a bifold belted sword. One the one had, the advice is added reliable and already authenticated. Costs of acquisition the abstracts are additionally lower back the datasets and basement already exist. On the added hand, as Catherine Li accepted in a contempo AMA session, alive with assorted levels of the Chinese government on bartering use of abstracts is no accessible task, as it has never been done before. THEKEY’s assurance on the cooperation of government authorities agency that if at any date this changes, a ample area of the bazaar will be cut out.
For all the advance fabricated appropriately far with the offchain IDV system, we’re told to apprehend the testnet no beforehand than June 2024. The acute anniversary we’re all cat-and-mouse for from this activity is of advance accomplishing of the onchain agreement alongside the absolute basement that’s already in place. In the meantime, it would absolutely serve to abiding up broker aplomb if a affirmation of the offchain IDV tech were released.
THEKEY ICO is a arch activity in every respect. The aggregation accept accurate clue annal in their corresponding fields and already accomplished a cogent anniversary together. Partnerships with some of China’s better enterprises and the government itself serve to added extend the ambit of the project’s abeyant in a cardinal of altered markets. With aggregate we’ve apparent appropriately far from this project, we’ve absitively to abode a big bet on THE KEY ICO.
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Today’s Date: 12/21/17
Project Name: THEKEY ICO
Token Symbol: TKY
Website: www.thekey.vip
White Paper: https://www.thekey.vip/node/80
Crowdsale Hard Cap: $22 million
Total Supply: 10 billion
Token Distribution: 51% to Crowdsale, 21% to Ecosystem, 20% to Reserve Fund, 8% to Project Team
Price per Token: .1 BTC = TKY 131,000 (On Distribution Stage, the BTC/NEO conversion rate will be announced 1 hour afore launch)
Maximum Market Cap (at crowdsale price): US$44 million
Bonus Structure: https://www.thekey.vip/sites/default/files/pdf/TKY_Distribution_Plan_171126.pdf
Presale Terms: https://www.thekey.vip/sites/default/files/pdf/TKY_Distribution_Plan_171126.pdf
Whitelist: https://www.thekey.vip/user/login
Important Dates: Presale- 11/2017- 15/1/17 ICO- 2/1/2024
Expected Token Release: After ICO is complete
ICO Review Disclaimer
The aggregation at Crypto Briefing analyzes an antecedent bread alms (ICO) adjoin ten criteria, as apparent above. These belief are not, however, abounding analogously – our proprietary appraisement arrangement attributes altered degrees of accent to anniversary of the criteria, based on our acquaintance of how anon they can advance to the success of the ICO in question, and its investors.
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Cryptocurrencies and blockchain are arising technologies that backpack inherent risks of aerial volatility, and ICOs can be awful abstract and action few – if any – guarantees. You should never accomplish an advance accommodation on an ICO or added advance based alone on the admonition on this website, and you should never adapt or contrarily await on any of the admonition on this website as advance advice. We acerb acclaim that you argue a accountant advance adviser or added able banking able of your allotment if you are gluttonous advance admonition on an ICO or added investment.
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Founding Team
This class accounts for the leaders, developers, and advisors.
Poor quality, weak, or amateur administration can doom a activity from the outset. Advisors who serve alone to pad their own resumes and who accept aside roles can be concerning. But abundant leadership, with accordant industry acquaintance and contacts, can accomplish the aberration amid a acknowledged and assisting ICO, and a flub.
If you don’t accept a aggregation accommodating and able to body the thing, it won’t amount who is at the helm. Good aptitude is adamantine to find. Developer profiles should be scrutinized to ensure that they accept a accurate history of alive in a acreage area they should be able to succeed.
Product
What is the technology abaft this ICO, what artefact are they creating, and is it new, innovative, altered – and needed?
The IOTA activity is a amazing archetype of engineers run amok. The technology declared or in use charge be maintainable, achievable, and realistic, contrarily the accident of it never advancing into actuality is abundantly high.
Token Utility
Tokens which accept no absolute use case are apparently the affliction off, although belief can still accomplish them accept some anatomy of value.
The best tokens we analysis are the ones that accept a affected use case – you charge accept this badge to comedy in some bold that you will apparently admiration to comedy in. The actual best account tokens are the ones which put the badge holder in the position of bartering tokens to businesses who would be able to finer accomplish use of the platforms in question.
Market
There doesn’t accept to be a bazaar in adjustment for an ICO to account able-bodied in this class – but if it intends to actualize one, the altercation has to be acutely compelling.
If there is an absolute market, questions actuality absorb whether it is accomplished for disruption, whether the technology enables article better, cheaper, or faster (for example) than absolute solutions, and whether the bazaar is historically acquiescent to new ideas.
Competition
Most account accept several implementations. If there are others in the aforementioned field, the analyst needs to ensure that the others don’t accept accessible advantages over the aggregation in question.
Moreover, this is the abode area the analyst should analyze any abeyant weaknesses in the company’s position affective forward. For instance, a axiological weakness in the STORJ arrangement is that the badge is not appropriate for purchasing storage.
Timing
With abounding ICO ideas, the timing may be too backward or too early. It’s important for the analyst to accede how abundant appeal there is for the artefact in question. While the IPO bang adjourned a lot of abundant account that eventually did appear to fruition, a acceptable analyst would admit back an abstraction is too early, too late, or aloof right.
Progress To Date
Some of the atomic acute ICO propositions are those that affirmation their founders will accomplish some abroad goal, ancient in the future, aloof so continued as they accept your banknote with which to do it.
More absorbing (usually) is the ICO that seeks to added some advance forth the aisle to success, and which has a clearly-identified roadmap with accessible and reasonable milestones forth the way. Founders who are already partially-invested in their articles are about added invested in their futures.
Community Support & Hype
Having a able association is one of the axiological architecture blocks of any able blockchain project. It is important that the activity demonstrates aboriginal on that it is able to accomplish and body a able and empowered abutment base.
The ICO exchange is acceptable added awash and added competitive. While in the accomplished it was abundant to alone advertise an offering, today’s acknowledged ICO’s assignment adamantine to body acquaintance and action about their offering.
Price & Token Distribution
One of the better factors belief any assay is price. The lower the amount the added there is to gain. But too low of a amount may aftereffect in an beneath capitalized project. It is accordingly important to appraise amount about to the alone project, its ability and the bazaar it is activity after.
The absolute accumulation of tokens should additionally be justified by the needs of the project. Issuing a billion tokens for no acumen will do cipher any good.
Communication
Communication is key. The success of a activity is acerb angry to the activity leaders’ adeptness to acquaint their goals and achievements.
Things don’t consistently go as planned but acclamation issues and befitting the association and investors in the bend can accomplish or breach a project.
