







One of the most highly anticipated and hyped ICOs (with some controversy) of recent times has been THEKey, a team hoping to develop an identification verification tool (IDV) with blockchain-based dynamic multi-dimension identification (BDMI) through usage of government-authorized personally identifiable information (PII), which will all be based on NEO’s smart economy platform.





Blockchain News Korea was able to have an exclusive sit-down interview with Catherine Li, Founder & CEO of THEKey on Thursday.





Li said, “We want to take responsibility for verifying the identities of 1.3 billion Chinese citizens.”





THEKey is a rapidly growing IDV solution team with full support from local Chinese authorities. They have been granted exclusive license from the government to gain access to national citizen big data in hopes of creating a blockchain-based system for IDV.





“THEKey is now in the midst of creating a second-generation IDV solution which is a different verification system compared to currently existing ones,” said Li.





“By using THEKey’s BDMI technology, we can create a far more trustworthy and cost-effective way of handling personal identity verification compared to what is being used these days, as from the user’s perspective he or she will not have to install a separate app nor will have to provide any extra personal information,” added Li.

















THEKey has been named “The Most Commercial Valuable Project of the Year 2017” by the All-China Women’s Federation and Li was named “The Most Outstanding Woman Entrepreneur in China.”





“We currently have been given access to the personal data for 66 cities within China and 210 million Chinese citizens. This is government-approved data that provides a solid foundation for the start of our blockchain system and we plan to gain access to the data of 500 million Chinese citizens in the near future,” remarked Li.





THEKey’s IDV solution is currently being test piloted in two cities in China. Local residents in these cities can apply for social security benefits and health care insurance reimbursements through THEKey’s IDV solution on their mobile phones.





“In addition to the two test pilot cities, 41 Chinese cities are in the process of implementing THEKey’s IDV solution and thus more than 130 million Chinese citizens will be able to reap the benefits,” said Li.





The areas in which IDV can be applied to are endless, including but not limited to hospitals, government offices, financial institutions, and other general public and private companies.





“We are planning to roll out THEKey in several different countries and we would like to start with South Korea,” announced Li.





She seemed to show great affection for South Korea.





“I think the growth potential of the Korean market is very strong and in the blockchain industry in particular, Korea has become a very important market as there are many businesses that can be done here.”





“We would like for THEKey to make inroads here and for people to become fans of THEKey.”





THEKey’s BDMI Testnet is aiming to launch in June of this year and the Mainnet by the end of the year.





[Blockchain News Korea Albert Kim]

[Twitter: @BlockNewsKorea]



