SelfKey, a blockchain platform focused on self-sovereign identity, utilizes its native token, KEY, to fuel its ecosystem. While widespread adoption of KEY by companies remains nascent, the project boasts several collaborations and integrations, hinting at future potential.
Companies Using KEY:
• SelfKey Marketplace: KEY is the primary currency for accessing services on the SelfKey platform, including KYC/AML verification, cryptocurrency loans, and exchange listings. Individuals leverage KEY to interact with these services, offering a glimpse into potential corporate use cases.
• Payment Gateway: SelfKey plans to launch a payment gateway in 2024, enabling merchants to accept KEY as payment alongside other cryptocurrencies. This could lead to broader adoption by businesses, particularly those aligned with the decentralization ethos.
Companies Partnering with SelfKey:
• Cryptocurrency Exchanges: SelfKey collaborates with multiple cryptocurrency exchanges, including Bitkub, WhiteBIT, and Tokens.net. These partnerships allow users to trade KEY directly on these platforms, increasing its visibility and liquidity.
• Financial Services: Partnerships with Bank of Hodlers, Helio Lending, and ExMarkets expand SelfKey’s reach into the DeFi and crypto loan space. KEY holders can access loans and other financial services using the token as collateral.
• Technology Providers: Collaboration with ThreeFold, a peer-to-peer internet network, opens doors for integrating SelfKey’s identity solutions into decentralized communication infrastructure.
It’s important to note that the use of KEY for specific transactions within these partnerships isn’t always explicitly stated. However, the overall collaborations indicate growing interest in SelfKey’s technology and its potential to revolutionize identity management.
Further Developments:
• SelfKey’s DAO structure allows for community-driven governance, potentially attracting companies and developers seeking a collaborative environment.
• The upcoming SelfKey KYC Marketplace aims to connect organizations with verified identities, creating a potential demand for KEY within this platform.
Remember, this information is based on publicly available data and should not be considered financial advice