There is already an extensive answer from one of the Selfkey team regarding this.
Good afternoon. After reading your project, I get the impression that you want to offer a product that is already on the market and they are already being used, I'm talking about projects like Civic and Stratis Identities. Tell me what is the difference from them?
Hi Igor, thank you for your message
I honestly think that there is no similar product in the market.
Civic's current product is focused in authentication (phone number and email), which is not an international KYC standard, whereas ours is.
There is no identity wallet in the market which allows you to access to your identity documents stored in your device, notarize them and apply for and buy residency and citizenship by investment, company incorporation, bank accounts, digital wallets, etc. (check out all services that will be available at launch at
http://alpha.selfkey.org/marketplace).
There is no token, with which you can buy these products and services.
There is no identity system in the market that can provide for linked identities and multilevel verification, and offer services to aid company management, such as stock transfer ledger services.
There is no identity wallet with which you can access to your ID documents and store any ERC-20 token, and instantly send them to participate in token sales.
The SelfKey platform also provides eNotary, eSign, customized KYC templates, sanction screening, company registry lookup, company laws and kyc laws lookup. I want to remark that this technology is live, tested and implemented in start ups, renowned banks and even used for token sales whitelist processes.
Currently, there is no product in the market that allows for data minimization.
I want to highlight that SelfKey's approach is transparent. The user does not store any data or documents on SelfKey servers or the Blockchain. These are stored on the user's personal device. There is no centralized database.
Also, our token economy is substantially different from that of other identity management projects.
A user will pay tokens for the attestation of his identity. In the same way that you go to the notary with your physical document to certify it.
The user will pay tokens to onboard in a product or service. In the same way that you currently pay a registered agent for the incorporation of your company.
The relying parties will allocate a portion of the tokens received to reward certifiers, who have verified the identity of the customer that has been successfully onboarded.
This allows for a transactional economy feasible in the long-term, where all parties involved are incentivized to use the KEY token.