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On May 18th, THEKEY was invited for a presence in the 21st China Beijing International High-Tech Expo, due to the significant progress made on blockchain technology innovation and application in the identity verification area. The exhibition of THEKEY MVP (minimum viable product), which is equivalent to testnet, attracted tremendous attention from the audience.
China Beijing International High-Tech Expo, held from May 17th to 20th, is a significant national annual conference on international scientific and technological exchanges and cooperation. This expo was co-hosted by Ministry of Science and Technology, State Intellectual Property Office, China Council for the Promotion of International Trade and The people’s Government of Beijing City.
The development of THEKEY MVP is based on the application scenario of “Smart Medical Insurance Pay” which requires a complicated IDV process. The core technology is BDMI, which is a decentralized ecosystem consisting of both Dynamic Multi-Dimension Identification (DMI) technology and blockchain technology. The ecosystem consists of three primary participants (the validator, the service provider and the individual user), smart contracts and TKY tokens. Since the launch, THEKEY MVP/Testnet has received tremendous positive recognition, from the government as well as the industrial KOLs involved in its internal and external review. Mr. Cai Qi, secretary of Beijing Municipal, Mr. Yousheng Xu, Vice Minister of The United Front Work Department of CPC Central Committee paid a visit to the exhibition booth and gave very high affirmation and praise to its product.
Mr. Yousheng Xu, Vice Minister of the United Front Work Department of CPC Central Committee on the Expo
The MVP of THEKEY has already made several extraordinary breakthroughs in the industry: 1) “undeniable” and “unalterable” online IDV results were generated for the first time in the world through BDMI technology which embraces 6 elements simultaneously to realize EA5 (e-authentication-5) level IDV services; 2)THEKEY adopted a 5-pillar private key management system that directly triggers smart contract signing and token circulation; 3) For the first time in the world, THEKEY were able to integrate IDV and digital wallets to form a real identity wallet (RIW).
As THEKEY is developing its cutting-edge solution in the area of identity verification, Catherine Li, Chairwoman and CEO of THEKEY received an exclusive interview by CGTN (China’s new international media organization launched by the national broadcaster CCTV) during the First Shanghai Cooperation Organization Forum on Women recently. As we may view from the trend, more and more female leaders who were involved in the blockchain industry sought to shake off the overly gendered prejudice in cryptocurrency and gain much recognition through their extraordinary talent and leadership. Catherine is just one of them. She mentioned during the interview that, nowadays women play a more and more important role in the society in all industries, including the technique driven ones. Comparably speaking, women are better at keeping balance of work and life at the same time.
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According to the roadmap of THEKEY, the mainnet of MVP is scheduled to be released at the end of this year.
THEKEY is a decentralized ecosystem of an identity verification tool using national big-data and blockchain. THEKEY project team is now developing an identification verification (IDV) tool with blockchain based dynamic multi-dimension identification (BDMI) by using Personally Identifiable Information (PII) which is exclusively authorized by government authorities. THEKEY token (TKY), is the only method to settle smart contracts signed between the participants in THEKEY Ecosystem. Now TKY is tradable on the exchange platforms, such as Bit-Z , KuCoin , LBANK.
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