THEKEY is a decentralized blockchain based platform that offers an ecosystem tool for identity verification using blockchain technology and national database.
|Description||THEKEY is a decentralized blockchain based platform that offers an ecosystem tool for identity verification using blockchain technology and national database.|
|White Paper URL||https://www.thekey.vip/disclaimers|
|Token Platform||ETH (ERC20)|
Why Invest in ICOs?
Are you looking for a safe investment opportunity? Have you tried investing in an ICO before? If not, we suggest, make a rational move. Invest in ICO and make some quick profits. The world has recently witnessed a new trend where hundreds of ICOs have erupted out and successfully launched their campaigns. Investors all around the world have participated enthusiastically and some of the ICOs have been proved to be quite successful. The journey of emerging ICOs has not stopped yet. You too can profit by putting your money in a well-deserving ICO.
Be Care with Your Investment
Wait, before you decide to invest in any ICO, let us warn you that investing in an ICO can also go wrong. Because the world is full of scammers and there could be some bad ICOs too. Therefore there is a risk that you end up investing in a bad ICO that runs away by taking all of your hard-earned money. It is pertinent to do a detailed research before you decide to invest your money in any ICO. You can try visiting various ICO forums to know most favorite ICOs for investment purpose. You can also check the official website of the ICO in which you wish to invest. If it touches your heart, you’re good to go, otherwise, leave it and look for some other ICO.
Having said that, let us present you our today’s review that we have done on an ICO known as “THEKEY”. Now let’s come to our subject matter;
THEKEY is a decentralized blockchain based platform that offers an ecosystem tool for identity verification using blockchain technology and national database. The platform intends to develop blockchain based multi-dimensional identification tool using PII (personally identifiable information) that is authorized exclusively by governmental authorities. THEKEY claims to provide three undisputed advantages that give it an edge over other existing IDVs. These advantages include lower cost, more authenticated results, and enhanced user experience.
THEKEY is a decentralized ERC20 token based platform that introduces innovation in the field of identity verification. The platform plans to combine the national database with blockchain to develop a highly intelligent IDV (identity verification) tool that is more reliable, have low cost, and gives tremendous experience to its users. The key point is that all the supporting data is not only comprehensive, reliable and accurate but it is collected in real time as well. In addition, the data is pre-validated by public institutions as well as government agencies.
How Does THEKEY Work?
The platform intends to introduce BDMI which is a combination of two technologies that are Blockchain and Data Collection Module. So, instead of deploying centralized database for identity verification solutions, The ICO plans to set up a DMI system within the information and contact centers of municipal and provincial governments to avoid duplication of work in data collection, data processing, and authentication. The BDMI framework has three layers including protocol, application and operating interface. The protocol layer of the BDMI is based on blockchain, applicable on BDMI technical selection and is supposed to serve as a tool responsible for data authority, safety level, and flow processing.
Earn THEKEY Tokens
Like all other ICOs, THEKEY also held its launching ceremony last year. As per the available information on the official website of the ICO, the token sale of the ICO has already been concluded. Therefore investors who wish to earn THEKEY tokens need to exchange them for other supported cryptocurrencies. The ICO is likely to support all major cryptocurrencies.
Buy THEKEY Tokens with E-wallets
THEKEY is an ERC20 token based platform. ERC20 is also commonly known as Ethereum. As we all know ethereum is a cryptocurrency and cryptocurrencies need to be stored in electronic wallets. Therefore, people who wish to buy THEKEY tokens need to have their e-wallet account ready with them before they decide to buy THEKEY tokens.
THE ICO Distribution
Usually, ICO presents a lot of information about their distribution. Unfortunately, we are not been able to collect more information in this regard. Because the ICO has no-where posted all such relevant details. Reputable ICOs are supposed to present the information such as their fundraising target, a little information about funding cap, the starting price of the token and the hard capping if any. The ICO also has not shared any information concerning the usage of funds and its allocation. However, the ICO has declared on its official webpage that they have already achieved their target funding and the token sale has been closed now.
Since we couldn’t find any information regarding ICO’s distribution, therefore, we also failed to find supporting information about bonuses. We explored THEKEY official website, we also read whitepaper but even then nothing appeared to be taken as a workable content. Still, we hope the company will sooner or later come up with all such information. However, it is very unlikely for an ICO to have not offered any bonuses for its early investors. We would like to suggest potential investors to keep your fingers crossed. The ICO may offer some exciting bonuses in its second offering if launched.
The ICO has following team members;
- Catherine is the CEO at THEKEY
- Ken Huang looks after Identity Verification & Blockchain and is the President of THEKEY
- Jian WANG is the CBO at THEKEY
- Guochun XU is the CTO at THEKEY
- ROGER LIM is one of the blockchain and cryptocurrency Investors of THEKEY
Think Twice Before You Invest In THEKEY
After a careful review of the ICO, we hereby conclude that, although THEKEY ICO has very appealing ideas that could trigger the game-changing impact in the field of data validation and identity verification, still we have some concerns in relation to the missing information on the official website of the ICO. At this time, when we couldn’t find enough supporting information to validate the claim made by the ICO, we issue a disclaimer of opinion. It is in the best interest of investors to undergo a detailed research on the ICO before putting their money in it.